This conversation is part of our “Wisdom in Books” series and podcast.
In this interview, Larry Cunningham shares key insights from his book, The Essays of Warren Buffett: Lessons for Corporate America. Cunningham, a distinguished scholar on corporate governance and a trusted commentator on Buffett’s philosophy, reveals the essential wisdom distilled from decades of Buffett’s letters. By carefully curating and synthesizing Buffett's annual letters into coherent themes, Cunningham illuminates Buffett's timeless principles on investing, business management, and leadership.
Throughout the discussion, Cunningham emphasizes the underlying consistency of Buffett's investment philosophy—particularly his focus on intrinsic value, the critical distinction between price and value, and the unwavering importance of trust in corporate culture. He sheds light on the distinctive trust-based operational structure at Berkshire Hathaway, explaining how autonomy granted to subsidiary managers fosters exceptional performance and long-term value creation.
Cunningham also provides compelling insights into Buffett’s approach to modern issues such as ESG, shareholder activism, and corporate governance, highlighting Buffett's unconventional yet deeply principled stance. Experienced investors seeking to deepen their understanding of Buffett’s methods will find Cunningham’s analysis particularly valuable, offering clarity and perspective beyond superficial interpretations of Buffett’s widely publicized comments.
Insights you’ll gain in this conversation:
The Evolution and Importance of Buffett's Essays
Intrinsic Value: Price versus Value
Trust-Based Corporate Culture at Berkshire
Berkshire's Unique Governance Model
Buffett’s Approach to ESG and Corporate Responsibility
Identifying and Attracting Quality Shareholders
Buffett's Exceptional Communication Skills
Index Investing vs. Active Value Investing
Insights into Buffett’s Personal Investment Philosophy
Warren Buffett's Vision for Long-term Value Creation
Enjoy the conversation!
A small number of seats at our event of the year, Latticework 2025, will be made available soon to our Substack subscribers. Stay tuned!
Latticework 2025 will be held in New York City on October 7th. In fireside chats with audience participation, the summit will explore intelligent investing in a rapidly changing world. Keynote speakers include:
Chris Bloomstran, President of Semper Augustus Investments Group
Tom Gayner, CEO of Markel and Director of The Coca-Cola Company
Saurabh Madaan, Managing Member of Manveen Asset Management
Bob Robotti, President and CIO of Robotti & Company Advisors
Tom Russo, Managing Member of Gardner Russo & Quinn
Will Thomson, Managing Partner of Massif Capital
Christopher Tsai, President of Tsai Capital Corporation
Ed Wachenheim III, Chairman of Greenhaven Associates
