Lawrence Cunningham: Dean of Long Term Investors

Lawrence Cunningham: Dean of Long Term Investors

Warren Buffett wouldn’t anoint just anyone to publish a compendium of his best essay material. He chose professor Lawrence Cunningham, one of America’s foremost experts on corporate governance – and Berkshire Hathaway. The Essays of Warren Buffett is now in its eighth edition, and following Markel’s 2024 annual meeting, Lawrence spoke with me about why Markel (NYSE: $MKL) and Berkshire Hathaway invest in cultivating tribes of long-term, quality shareholders, how a declining average holding period on US exchanges (from 7 years to 7 months) risks crippling long-term company plans, what might bring Markel’s valuation closer to Berkshire’s – whose P/E ratio is nearly 50% higher – the rebasing of ESG and how company boards and managers have gravitated to Lawrence’s views after moving away from them during “peak ESG,” the costs of social inflation to investors, and more.

Click here or on the image below to watch.

This article is for informational purposes only and is neither investment advice nor a solicitation to buy or sell securities. All investment involves inherent risks, including the total loss of principal, and past performance is not a guarantee of future results. Always conduct thorough research or consult with a financial expert before making any investment decisions. James owns shares of Markel and Berkshire Hathaway. BBAE has no position in any investment mentioned.