David Rosenthal: belief

Transcript context

…Which in retrospect feels like such a fraught strategy because not only are you losing out on the benefit of all the upside of actually being a shareholder in your vehicle, Berkshire Hathaway, you now want to spend a lot of time and dive deep with this person and he's an insider. And now you personally own shares in his company, so you can't actually get a lot of the information that you want to talk about with them, because it's too sensitive, because you're a shareholder in a super meaningless way. This decision is confounding. Completely confounding. But he does invite Bill to join the Graham Group, which is by now the Buffet group, his group of cronies. At the next meeting, which I think is in Vancouver, one of the sessions they're all kicking around their favorite stock ideas, and Bill Ruane from the Sequoia fund throws out Kodak as a name he's thinking about. Bill Gates immediately responds, Kodak is toast. I love it.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.