S1E179 - Robert Karas: Beyond Returns: What Buffett’s Early Partnership Letters Really Teach Us
Published: November 17, 2025
Duration: 1:08:31
Robert Karas is a Partner and Chief Investment Officer at Bank Gutmann in Vienna, Austria's oldest private bank, where he oversees investment strategies for ultra-high-net-worth clients. Robert is a seasoned investor on a lifelong journey known for his thoughtful investment philosophy and engaging market insights.
3:00 - Robert describes the 1960s "paperwork crisis" when Wall Street trading volumes exploded and people physically schlepped suitcases of stock certificates along Wall Street, requiring the establishment of the Depository Trust Company in 1973.
5:20 - Bogumil shares his vivid memory of holding physical account statements from decades ago, witnessing the literal...