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He’s not trying to be misleading. I think that he just finds it easy, and while he clearly knows that he has a huge edge, he probably sometimes forgets that what he is able to do very easily is very hard for most other people.
What math does Buffett do that is not possible for typical college educated people to do? Correct me if wrong but he’s combining a highly thoughtful qualitative analysis (imho the true hard part) with a look at balance sheet and earnings multiple.
I did not say that it isn’t possible.
But you did say it was hard. Can you explain why? AFAIK, he does not do a cash flow model with exponential discounting, which could be considered hard.
He mainly stresses that there are no called strikes. You keep looking until you truly think you understand something. Until something is obvious to you. Munger focuses on overcoming biases and the importance of incentives. Brains aren't the hard part. Discipline is.
And they both talk how when you find it you need to bet BiG. And also good stocks are rare. Very rare. 10 card punch out or whatever Buffett always says
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