Morning & afternoon sessions with Warren and Charlie answering questions. Topics include:

-MCDONALDS IS NOT “INEVITABLE” AS COCA-COLA AND GILLETTE
-YOU CAN PAY TOO MUCH EVEN IF A BUSINESS IS “WONDERFUL”
BERKSHIRE DISCOURAGES “STREET NAME” REGISTRATIONS OF ITS STOCK
-WHY BUFFETT HASN’T WRITTEN A BOOK
-“REALISTIC” EXPECTATIONS
10. PRE-BUFFETT BERKSHIRE SHAREHOLDERS
11. BUFFETT’S JET: “INDEFENSIBLE” TO “INDISPENSABLE”
12. “VOLATILITY IS A HUGE PLUS TO THE REAL INVESTOR”
13. UNIVERSITY OF FLORIDA WILL TEACH GRAHAM-STYLE INVESTING
14. COMPULSORY REINVESTMENT AND “OWNER EARNINGS”
15. RATINGS AFTER WALT DISNEY’S PURCHASE OF ABC
16. CREATION OF CLASS B SHARES SIMILAR TO A STOCK SPLIT
17. WE DON’T KNOW HOW TO VALUE INTEL AND MICROSOFT
18. CONFIDENT ABOUT SALOMON BUT NOT REST OF WALL ST.
19. CAN’T EXCHANGE STOCKS WITHOUT PAYING TAXES
20. STRONG BUSINESSES, BUT NO “MASTER PLAN”
21. MOST MONEY MANAGERS HAVE “GOTTEN A LOT FOR NOTHING”
22. USAIR CEO STEPHEN WOLF HAS DONE “TERRIFIC” JOB
23. PUT ALL YOUR MONEY INTO BERKSHIRE STOCK?
24. WON’T BUY A TOBACCO COMPANY, BUT COULD BUY TOBACCO STOCKS
25. BUFFETT ON ANTI-ABORTION PROTESTERS
26. BERKSHIRE STOCK IS NOW “MORE APPROPRIATELY VALUED”
27. WORLD BOOK ENCYCLOPEDIA VS MICROSOFT’S ENCARTA
28. TAX FAIRNESS, ECONOMIC PROSPERITY, AND THE “OVARIAN LOTTERY”
29. “AMERICAN ECONOMY ENCOURAGES ADAPTATION”
30. MUNGER CRITICAL OF HARVARD PHILOSOPHER JOHN RAWLS
31. CLASS A STOCK MAY BE EXCHANGED FOR CLASS B AT ANY TIME
32. JUST TAKES 5 MINUTES TO KNOW IF WE’RE INTERESTED IN A COMPANY
33. BUFFETT DESCRIBES A “NORMAL” DAY
34. ABUSE OF STOCK OPTIONS AS EXECUTIVE COMPENSATION

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