#19 The Value Investor - Chris Bloomstran on Valuing Berkshire, Writing 100 page Letters & Thinking in Decades

Chris Bloomstran is best known for his incredibly detailed analysis of the valuation of Berkshire Hathaway. Not only is he an outstanding value investor, he is a highly accomplished analyst. His Semper Augustus annual letter runs at over 100 pages and in recent years, it has included an evaluation of Berkshire Hathaway – his analysis of the stock is the best I have read.

In this interview, we discuss his start in the business, his investment approach, why college investment funds make a great apprenticeship, why he writes such a detailed letter and Chris shares his analysis of the long term outlook for markets.

See the website for full show notes.

Behind the Balance Sheet is a fundamental investing podcast for serious investors. Each episode dives into how real‑world investors source ideas, build conviction and manage their portfolios.

You’ll hear frameworks for analysing industries, understanding business models, and thinking about risk, behaviour and incentives, so you can refine your own process rather than copy stock tips.

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