Clay and Lawrence Cunningham discuss the value of trust-based cultures and the impact of Warren Buffett’s approach at Berkshire Hathaway. Cunningham is the Director of the University of Delaware's John L. Weinberg Center for Corporate Governance and serves on the boards of Constellation Software, Markel Group, and Kelly Partners Group. He is also a best-selling author, known for works like “The Essays of Warren Buffett,” “Quality Investing,” and “Quality Shareholders.” IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:02:31 - The job of a board of directors 0:04:12 - Trust-based cultures 0:16:07 - Warren Buffett and Mark Leonard 0:26:56 - How Buffett identifies trustworthy people 0:32:14 - Breaking Buffett’s trust 0:54:17 - Berkshire’s $300B cash position 0:58:50 - Lawrence’s view on quality investing 01:02:53 - Outro 🤝 Network with like-minded value investors and get new stock ideas by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 📊 Add the Fundrise Flagship Fund to your portfolio in just minutes and with as little as $10. http://fundrise.com/wsb ✍️ Get your paper tablet at reMarkable.com today. https://remarkable.com/?utm_source=podcast&utm_medium=paid&utm_campaign=westudybillionaires%7Cremarkableaudio2025&utm_term=a&utm_content=februaryread 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ ▶️ RELATED EPISODES: - Quality Shareholders by Lawrence Cunningham w/ Clay Finck: https://youtu.be/YvRL77h3xGU - Warren Buffett: The Power of Corporate Governance w/ Lawrence Cunningham: https://youtu.be/2ltz4wrENpE - Buffett's Early Investments by Brett Gardner w/ Clay Finck: https://youtu.be/H-uoUrICrjI - Mastering Focus Investing | Warren Buffett's Strategy w/ Kyle Grieve: https://youtu.be/hknbPo21Ogg - How Warren Buffett Builds a Winning Portfolio w/ Kyle Grieve: https://youtu.be/oukGGo5n6m8 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/the-secret-to-buffetts-business-success-w-lawrence-cunningham/ 📖 BOOK MENTIONED: - The Essays of Warren Buffett: Lessons for Corporate America by Lawrence Cunningham: https://amzn.to/3EoT78l - Dear Shareholder: The best executive letters from Warren Buffett, Prem Watsa and other great CEOs by Lawrence Cunningham: https://amzn.to/4gvn5EQ Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙 On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.