Warren Buffett’s Investment Methodology 

Five Wednesdays • 1 p.m.-3:15 p.m. • Room 21

September 14, 28 • October 12, 26 • November 9

This five-class seminar teaches Warren Buffett’s investment methodology as presented in Berkshire Hathaway’s annual letters to its shareholders. The classes will explain the four criteria used by Buffett to analyze a business. The financial statements in the SEC filings of publicly traded companies are examined to determine profitability, debt, and free cash flow. The instructors will explain the DuPont ratio for return on equity and how to estimate the present valuation of a company’s stock using discounted cash flows. The companies, examples and case studies are different every semester.

Instructors*: Kenneth E. Hansen, CFA, MBA, AIF®., Vice President/Investments; and Jeffrey A. Pierce, MBA, AIF®., Vice President/Investments; both of Stifel, Nicolaus & Company, Inc., Member SIPC and NYSE.

*Instructor on October 12: David Doo

Coordinators: David Doo and Jim Monroe