Miss nothing of the Q&A answers with this edit - we removed only the fluff in between! 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 2011.
Contents:
1. WELCOME
2. BOARD OF DIRECTORS INTRODUCED
3. Q1 EARNINGS HURT BY ASIAN CATASTROPHES
4. DAVID SOKOL AND LUBRIZOL: “INEXCUSABLE” AND “INEXPLICABLE”
5. JOURNALISTS INTRODUCED
6. BUFFETT’S DAVID SOKOL TIMELINE
7. MARKET REACTION WHEN FED ENDS STIMULUS
8. ROLE OF BERKSHIRE’S NEXT CHAIRMAN
9. PICKING TECH STOCKS IS DIFFICULT BUT COULD BE PROFITABLE
10. WHY BUFFETT GOT PAST HIS SKEPTICISM ABOUT LUBRIZOL
11. USING BERKSHIRE’S STOCK FOR ACQUISITIONS
12. BUFFETT IS ALWAYS OPTIMISTIC ABOUT AMERICAN CAPITALISM
13. BEST ASSETS IN AN INFLATIONARY ENVIRONMENT
14. NO DIVIDEND, SO SELL A SLICE OF BERKSHIRE IF YOU NEED CASH
15. STILL BULLISH ON BANK STOCKS WELLS FARGO AND U.S. BANCORP
16. PRODUCTIVE ASSETS WILL ALWAYS BEAT GOLD
17. BUFFETT ON GETTING HIS FIRST INVESTORS
18. BERKSHIRE ISN’T A ’60S “GO-GO” CONGLOMERATE
19. BUFFETT’S PREFERRED LEGACY: “TEACHER”
20. DOLLAR WILL DECLINE, BUT INFLATION WON’T DESTROY THE ECONOMY
21. BUY BERKSHIRE STOCK OR A MUTUAL FUND?
22. “RULES ARE NOT MEANT TO BE DANCED AROUND”
23. DEFICIT SPENDING IS ECONOMIC STIMULUS
24. MUNGER TELLS HOW HE’D TAKE “AN AX TO OUR FINANCIAL SECTOR”
25. UPDATE ON BUFFETT’S BET AGAINST HEDGE FUNDS
