In this episode, we are joined by Lawrence Cunningham. He is a professor at George Washington University and one of the world's leading experts on Warren Buffett. He is also the author of many excellent investing books including "Dear Shareholder", "The Essays of Warren Buffett", "Quality Investing", and the upcoming "Quality Shareholders: How the Best Managers Attract and Keep Them".  
We discuss a wide range of topics, including:
- the key traits that have led to Warren Buffett's long-term success 
- the characteristics of a quality shareholder and what companies can do to attract and keep them 
- the impact of the rise of passive investing on corporate governance
- the most important attributes that can help to identify quality companies and whether they can be quantified. 
We hope you enjoy the discussion. 
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ABOUT THE PODCAST
Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors.
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