All Munger and Buffett say is preserved. Only gaps and questions have been clipped to save your time. This is the Berkshire Hathaway Shareholders Meeting 2002.

May 4, 2002. Eight months after September 11, 2001 Warren Buffett explains how Berkshire Hathaway and other insurers have begun to protect themselves financially from catastrophic terrorist attacks that could destroy the industry. He has advice on how to choose friends and business partners, reveals how to stay in your “circle of competence,” and answers a very young shareholder who wants to know if he has on underwear from newly-acquired Fruit of the Loom.

15:00 RETROACTIVE INSURANCE wow
22:22 How do you know WHEN TO SELL
47:00 How has 9/11 changed your strategy?
2:41:25 JOHNNY ONE NOTES
3:14:09 "Creative" Accounting

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