Summary: <br> Announcer: <a href="https://www.temi.com/editor/t/xMhh-F1D_cMzO3I2IN2oFNam0yJrt0f3PtTL6zTUSfSBsKsj-rTIFy-XQiGvGZPJDzzcRB6HUvAhNrTj2epcRMVs1cM?loadFrom=DocumentDeeplink&ts=0.27">00:00</a> You’re<br> tuned in to the Investing for Beginners podcast. Finally, step by step premium<br> investment guidance for beginners led by Andrew Sather and Dave Ahern to decode<br> industry jargon, silence crippling confusion and help you overcome emotions by<br> looking at the numbers, your path to financial freedom starts now.<br> <br> <br> <br> Dave: <a href="https://www.temi.com/editor/t/xMhh-F1D_cMzO3I2IN2oFNam0yJrt0f3PtTL6zTUSfSBsKsj-rTIFy-XQiGvGZPJDzzcRB6HUvAhNrTj2epcRMVs1cM?loadFrom=DocumentDeeplink&ts=36.26">00:36</a> All<br> right folks, we’ll welcome to the Investing for Beginners podcast. This is episode<br> 119, tonight, Andrew and I are going to talk a little bit about the companies<br> that have helped Warren Buffet grow all of his wealth the most. And what we’re<br> going to focus on today is, you guessed it, insurance companies who, who<br> exciting. Fun. It is interesting, and it is fun. I promise you Andrew, and I<br> always bring the fun. So this will be interesting, and we’ll come at this from<br> a beginner’s aspects. So we’ll talk a little bit about what an insurance<br> company is, what they do, how they make money. Maybe a little bit of<br> accounting, not too much cause I don’t want to put you to sleep. And then we’ll<br> also talk a little bit about some valuation metrics. So we’ll go ahead and<br> start a little bit. Andrew, did you want to say hi?<br> <br> <br> <br> Andrew: <a href="https://www.temi.com/editor/t/xMhh-F1D_cMzO3I2IN2oFNam0yJrt0f3PtTL6zTUSfSBsKsj-rTIFy-XQiGvGZPJDzzcRB6HUvAhNrTj2epcRMVs1cM?loadFrom=DocumentDeeplink&ts=84.63">01:24</a> I<br> did want to say hi. I think this is a very interesting topic to me because, do<br> you think about Warren Buffet, what makes him so great? He’s, he’s a cool<br> people person, he’s probably a great manager, all of those things. But his<br> biggest strength is his ability to allocate capital. And so in a lot of<br> different businesses, you have CEOs who have to make those type of decisions<br> with their capital. You know, we’ve talked about that before. It’s like, do I<br> want to pay out a dividend? Do I want to buy back shares? I want to reinvest in<br> the business in Buffett’s case. And the way that they structured Berkshire,<br> they buy these businesses and then have the business buffets. So Buffett will<br> buy like Geico. So I think we’ll talk about that a little bit. They’re an<br> insurance company.<br> <br> <br> <br> Andrew: <a href="https://www.temi.com/editor/t/xMhh-F1D_cMzO3I2IN2oFNam0yJrt0f3PtTL6zTUSfSBsKsj-rTIFy-XQiGvGZP..."></a>
