Todd Combs

Which means if you're investing in Berkshire Hathaway, he's actually not involved in the day-to-day stock picks anymore.

He's actually turned it over to Todd Combs.

But to me, this is a reflection of the fact that investors are being sensible, saying, hey, Warren Buffett's not going to be picking stocks, even in the background, very much more.

Do any of you own Berkshire Hathaway stock? If you do, you're paying for dinner for the rest of the semester because the share of Berkshire Hathaway costs like $225,000.

The bank thus far has been pleasantly surprised by the pace of which they have reached already, having set a plan to deploy $10 billion into startup companies over the decade, according to CNBC.

While most of the investments have yet to be disclosed, Todd Combs, who is in charge of making startup investments for the JP Morgan group after serving as an executive for Berkshire Hathaway, has dove right into the role and has provided new opportunities for the bank.

The focus into defense related startups is an industry JPMorgan Chase intends to remain within due to their early success.

Stock futures saw a slight rise as investors on Wall Street have hopped back into tech since the fierce sell-off a week ago.

We'll blow way past that $1.5 trillion.

I know Todd Combs is not here, but I see a bunch of his partners.

That $10 billion is direct investing in security resiliency.

It also opened up a lot of other issues.

... doing things differently

... mainly Todd Combs.

Oh, that's who it was.

Yeah.

We then brought in some hot shot, one of the top Goldman Sachs guys, three hedge fund type guys promoting, not intentionally, but basically giving their strategy, what they try to pull off.

Then Todd Combs, and I finished with Tom Combs and went further with Todd Combs, used to be Warren Buffett's right-hand guy at Berkshire Hathaway, and now works at J.P. Morgan, essentially investing their own money.

No outside investor, just J.P. Morgan's money.

So I got to kind of look behind the curtain.

It's been a good run with the index, to be sure, but...

Anyway, what I found...

And really interesting was Todd Combs, who's Mr., you know, active investor.

Buffett brought him in to help screen stocks, screen deals.

Uh, then I had an opportunity to go work at Berkshire Hathaway.

Uh, worked under Todd Combs and lear- and learned a lot from Todd.

Uh, complete change of pace, mainly looking at, uh, you know, kind of larger mega cap compounding type businesses.

Um, then wanted to go and live in Asia and, uh, look at more of the companies that got me excited when I was first working at the family office-backed fund at Brizo and, uh, went, went back and worked for Brizo, and then that's when I had the idea eventually to, uh, start my own fund, which I launched in May of Turton, and it's focused globally with a global mandate, but, um, really zooming in on the markets that I think where, uh, they're going through corporate governance reform cycles.

Of course, a long attention span will help you a lot if you're reasonably smart." That was Charlie Munger explaining his success.

In 2022, Todd Combs sat down with Munger for a conversation that has never been released publicly until now.

The conversation was part of the Singleton Prize for CEO Excellence, and we have permission from Todd and the Singleton Foundation to share it with you today.

This thing is such a gem.

Most people who listen haven't yet, and it helps more people find us.

Singleton wasn't the only manager that Munger admired.

When Todd Combs brought up Tom Murphy, Munger summed up his success in two sentences: "What Tom did was he delegated enormously, and if it was really important, he went and did it himself.

Very simple, and Henry was very simple." That sounds easy, but delegating enormously only works when you give power to the right people.

They are actively preparing the next generation.

The report highlights Todd Combs and Ted Weschler, the two investment managers brought in to eventually take over the massive equity portfolio.

And pay close attention to how they are training them.

They didn't just give them a few billion dollars to play at the stock market.

They, they manage a total of about $30 billion between them.

Ted Weschler and, and, and Todd Combs.

Two people you chose.

They've, they've been with us for about 10 years each.