Announcer:                        00:00                     You’re
tuned in to the Investing for Beginners podcast. Finally, step by step premium
investment guidance for beginners led by Andrew Sather and Dave Ahern to decode
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Dave:                                    00:36                     All
right folks, we’ll welcome to the Investing for Beginners podcast. This is episode
119, tonight, Andrew and I are going to talk a little bit about the companies
that have helped Warren Buffet grow all of his wealth the most. And what we’re
going to focus on today is, you guessed it, insurance companies who, who
exciting. Fun. It is interesting, and it is fun. I promise you Andrew, and I
always bring the fun. So this will be interesting, and we’ll come at this from
a beginner’s aspects. So we’ll talk a little bit about what an insurance
company is, what they do, how they make money. Maybe a little bit of
accounting, not too much cause I don’t want to put you to sleep. And then we’ll
also talk a little bit about some valuation metrics. So we’ll go ahead and
start a little bit. Andrew, did you want to say hi?

Andrew:                              01:24                     I
did want to say hi. I think this is a very interesting topic to me because, do
you think about Warren Buffet, what makes him so great? He’s, he’s a cool
people person, he’s probably a great manager, all of those things. But his
biggest strength is his ability to allocate capital. And so in a lot of
different businesses, you have CEOs who have to make those type of decisions
with their capital. You know, we’ve talked about that before. It’s like, do I
want to pay out a dividend? Do I want to buy back shares? I want to reinvest in
the business in Buffett’s case. And the way that they structured Berkshire,
they buy these businesses and then have the business buffets. So Buffett will
buy like Geico. So I think we’ll talk about that a little bit. They’re an
insurance company.

Andrew: