Last week, the yearly shareholders’ meet—AGM in Indian parlance— of Warren Buffett’s Berkshire Hathaway occurred, as it does every 12 months, within the town wherein the grand old guy of investing is based totally—Omaha, in Nebraska, USA. By all accounts, the sector’s maximum well-known shareholder’s meet lived up to its billing. There turned into a large exhibition in which shareholders may want to buy or pattern the goods of the organizations that Berkshire owns, starting from See’s, a candy corporation, to NetJets, which rents out non-public jets. However, the show’s highlight, as continually, became an extended Q&A with Buffett and his deputy Charlie Munger. Despite the two’s superior age (Buffett is 88 and Munger 95), the Q&A lasted a day’s maximum.
As has been customary for some years now, questions at the Berkshire meet came from assets. One lot became selected from emailed questions using a panel of financial analysts and writers, and the second from shareholders on the venue who a lottery has decided on hung on the spot. Many of the questions had been connected immediately to Berkshire’s groups, as one might assume at a shareholders’ meet.
However, a good quantity has been standard questions on investing or enterprise, or someday even broader. In most instances, Buffett and Munger gave lengthy, reasoned solutions that frequently went into the standards underlying what they do. Typically, Buffett made his factor tactfully and then checked out Munger and said, “Charlie?” Munger frequently said, “I have nothing to feature,” but while he did talk, it changed into usually a few comments or anecdotes that changed into markedly much less politic than Buffett’s.
For instance, this 27-yr-antique stated he “wanted to be a fantastic cash manager such as you two” and desired some recommendation on that. Buffett gave an excellent long answer; however, while it came to Munger’s flip, he narrated this story: A younger man who had asked Mozart approximately how he should start composing symphonies. Mozart told the person that at 22 years vintage, he turned too young. “You had been writing symphonies while you were ten years vintage,” the person protested. “Yes, however, I wasn’t walking around asking other humans a way to do it,” Mozart spoke back.