The Dutch Investors #27 | Buffett and Munger Unscripted | Interview w/ author Alex Morris on investing and timeless lessons
Mar 27, 2025
Alex Morris, founder of TSOH Investment Research and author of Buffett and Munger Unscripted, shares how studying Buffett and Munger became a book project. He talks about his path from buy-side analyst to managing family assets. Conversation covers organizing decades of Berkshire meetings by topic, surprising counterintuitive examples, and why incentives and business quality matter in investing.
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Early Obsession With Berkshire
- Alex Morris first became obsessed with Berkshire after reading The Essays of Warren Buffett and attending his first Omaha meeting in 2007.
- He returned multiple times because the meeting revealed insights you can't fully get from transcripts alone.
Investing Is Studying Business Evolution
- Alex sees investing as studying how businesses evolve and how incentives shape outcomes.
- He values understanding people and incentives more than short-term price-to-value math.
Match Portfolio To Client Risk
- When managing others' money, always account for their ability and willingness to bear risk.
- Structure portfolios to fit each client's needs beyond simple security selection.
