Don’t lose sight of the long term.It’s a core message from the eighth editionof Valuation: Measuring and Managing the Value of Companies, McKinsey’s seminal guide for corporate-finance professionals. It also describes the unique investment approach of the legendary investor Warren Buffett, who will step down as CEO of Berkshire Hathaway at the end of 2025. In this episode of The McKinsey Podcast, we hear an excerpt from our Author Talks series featuring Valuation coauthor and McKinsey Partner Tim Koller and Editorial Director Roberta Fusaro. They talk about what’s changed in the business world since the first edition of Valuation was published, some 35 years ago. He also touches on Buffett’s approach to investing, including why it worked and whether it can be replicated.

Articles/pieces mentioned:

Tariffs and trade: Preparing for the unpredictable

Confronting the affordable-housing crisis

Theme music composed, performed, and produced by Joy Ngiaw

Don&rsquo;t lose sight of the long term. It&rsquo;s a core message from the eighth edition of <a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/valuation-measuring-and-managing-the-value-of-companies">Valuation: Measuring and Managing the Value of Companies</a>, McKinsey&rsquo;s seminal guide for corporate-finance professionals. It also describes the unique investment approach of the legendary investor Warren Buffett, who will step down as CEO of Berkshire Hathaway at the end of 2025. In this episode of <a href="https://www.mckinsey.com/featured-insights/mckinsey-podcast">The McKinsey Podcast,</a> we hear an excerpt from our <a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/author-talks">Author Talks series</a> featuring Valuation coauthor and McKinsey Partner <a href="http://mckinsey.com/our-people/tim-koller">Tim Koller</a> and Editorial Director Roberta Fusaro. They talk about what&rsquo;s changed in the business world since the first edition of Valuation was published, some 35 years ago. He also touches on Buffett&rsquo;s approach to investing, including why it worked and whether it can be replicated.
Articles/pieces mentioned:
<a href="https://www.mckinsey.com/capabilities/geopolitics/our-insights/tariffs-and-trade-preparing-for-the-unpredictable">Tariffs and trade: Preparing for the unpredictable</a>
<a href="https://www.mckinsey.com/institute-for-economic-mobility/our-insights/confronting-the-affordable-housing-crisis">Confronting the affordable-housing crisis</a>
Theme music composed, performed, and produced by Joy Ngiaw

The McKinsey Podcast, our new flagship podcast series, takes you inside our global firm, and features conversations with experts on issues that matter most in business and management. McKinsey & Company is a management-consulting firm that helps businesses, governments, and not-for-profit organizations realize their most important goals. Topics covered in this series include strategy, technology, leadership, marketing, operations, organization, and the role of business in society.

The McKinsey Podcast features conversations with experts from global management-consulting firm McKinsey & Company, focusing on the issues that matter most in business and management.

The McKinsey Podcast

Our flagship series The McKinsey Podcast takes you inside our global firm, and features conversations with experts on issues that matter most in business and management. McKinsey & Company is a management-consulting firm that helps businesses, governments, and not-for-profit organizations realize their most important goals. Topics covered in this series include strategy, technology, leadership, marketing, operations, organization, and the role of business in society.

Our flagship series The McKinsey Podcast takes you inside our global firm, and features conversations with experts on issues that matter most in business and management. McKinsey &amp; Company is a management-consulting firm that helps businesses, governments, and not-for-profit organizations realize their most important goals. Topics covered in this series include strategy, technology, leadership, marketing, operations, organization, and the role of business in society.