Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

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Stormbringer
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Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by Stormbringer » Sat May 05, 2018 7:19 am

For those interested in hearing what Warren and Charlie have to say, Yahoo will be live-streaming the event today starting at 9:45 ET:

https://finance.yahoo.com/brklivestream/
"Compound interest is the most powerful force in the universe." - Albert Einstein

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JoMoney
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by JoMoney » Sat May 05, 2018 7:21 am

I plan to be watching, if it's like last year they'll probably re-run it a couple times over the next few days :beer
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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oldzey
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by oldzey » Sat May 05, 2018 8:47 am

Just started - always a good time. :sharebeer
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

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oldzey
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by oldzey » Sat May 05, 2018 9:23 am

Warren Buffett and Charlie Munger are up!
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

BlackHat
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by BlackHat » Sat May 05, 2018 9:54 am

The Chinese man just asked if we need to go back to a WW2 situation. That made me a little uncomfortable.
“Life is really simple, but we insist on making it complicated.” -- Confucius

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topper1296
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by topper1296 » Sat May 05, 2018 10:29 am

I'm listening to it as I drink my morning coffee.

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oldzey
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by oldzey » Sat May 05, 2018 12:05 pm

On lunch break - back in 1 hour.
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

bondsr4me
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by bondsr4me » Sat May 05, 2018 12:17 pm

I watched last year’s.

I am watching this year’s too.

I really enjoy listening to Warren’s and Charlie’s answers.

What a great duo....the BEST in business.

Have a great weekend...meeting on lunch break now.

Don

snarlyjack
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by snarlyjack » Sat May 05, 2018 12:27 pm

I' am watching the annual meeting.
Lunch time for 1 hour...

Warren Buffett is so good. He is the man...
I only wish I was as smart as he is...

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oldzey
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by oldzey » Sat May 05, 2018 1:37 pm

They're back!
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

Stormbringer
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by Stormbringer » Sat May 05, 2018 2:22 pm

I thought it was interesting that while Buffett encourages people to invest in index funds, not all Berkshire companies offer them in their 401(k). I found his comment -- that they let the managers of the businesses make these decisions without interference from HQ -- to be a little disappointing.
"Compound interest is the most powerful force in the universe." - Albert Einstein

rich126
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by rich126 » Sat May 05, 2018 2:27 pm

Stormbringer wrote:
Sat May 05, 2018 2:22 pm
I thought it was interesting that while Buffett encourages people to invest in index funds, not all Berkshire companies offer them in their 401(k). I found his comment -- that they let the managers of the businesses make these decisions without interference from HQ -- to be a little disappointing.
That is how they usually run things. Lots of people find his comments on the Wells Fargo situation disappointing.

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segfault
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by segfault » Sat May 05, 2018 10:38 pm

rich126 wrote:
Sat May 05, 2018 2:27 pm
Stormbringer wrote:
Sat May 05, 2018 2:22 pm
I thought it was interesting that while Buffett encourages people to invest in index funds, not all Berkshire companies offer them in their 401(k). I found his comment -- that they let the managers of the businesses make these decisions without interference from HQ -- to be a little disappointing.
That is how they usually run things. Lots of people find his comments on the Wells Fargo situation disappointing.
Myself included. The response to the gentleman who asked the question (I think directed to Munger) about whether the partnership with Amazon (on healthcare) had helped them understand tech and apply their understanding of cognitive biases to tech was a puff piece about what they were trying to do and didn't answer the question that was asked.

Without turning this into a political discussion, once again this year, a question was asked about socially responsible investing, and Buffett was yet again not able to give a coherent response.

lazyday
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by lazyday » Sun May 06, 2018 6:06 am

You can still watch at the same link.

~10 interview, including:
14:30 crypto
16 china

Pre-Q&A. A bit slow in my opinion.
38:20 opening the candy, introductions
40:10 begin
47 buying in 1942, long term returns

Q&A
58 work split
102 precision cast parts
106:50 trade war, china
113 reputation/prestige advantage
119 cyber risk
127 wells
137 manager reputation advantage, again
142 mgr involvement in owned companies
147 mark to market accounting
153 grocery distributions margins
157 health care
205:15 ted&todd’s portfolio returns
208 geico
212 tariffs, again
219 guns, SRI
223 buybacks vs special div
228 investing only $1B
232 BRK in 50 years
234 duracell
239 long bonds
245 3g cost cutting
250:45 small commercial insurance mkt
254:35 health care moat
257 musk moat quote, moat vs innovation
300 brk energy’s capital
304 earning power per share
309 real estate commissions
315 kraft heinz
--break. let us know if there's an interesting interview I missed.
424 brk avoiding microsoft
427 political division, long term us success
433 reinsurance
437 how to estimate intrinsic value
439 aapl buybacks
445 visa&mc vs amex
451/454 brk’s switch to capital intensive businesses
457 newspaper decline
505 tti electronic component distribution (and munger on business noone wants)
511 phillips 66
514 crypto
519 corp tax cut benefit
523 china&us, multiculturalism
528 brk 401k high fees
532 culture of brk&subsidiaries
538 float in cash&FI, using cash
542 elevated corporate profit margins, roa
548 brk-aig deal
551 choosing investments, amex vs competitors etc
558 3g hostile bids
604 ex-us acquisitions
607 biz school & value investing, ben graham
616 gender equality
621 insurance regulatory limit on div/buybacks
624 ai, capital allocation
628 underweighting china
632 avoiding tech in spite of moats, why late to buy apple
641 incenting/compensating brk managers
645 end Q&A, break

~655 meeting business
700 shareholder proposals

Feel free to add on to this. reached end.
Last edited by lazyday on Thu May 10, 2018 1:47 pm, edited 3 times in total.

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stemikger
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by stemikger » Sun May 06, 2018 7:45 am

Thanks so much for this reminder. I will be watching later.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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oldzey
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by oldzey » Sun May 06, 2018 12:26 pm

Charlie had some amusing words about cryptocurrencies.
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

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JoMoney
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by JoMoney » Sun May 06, 2018 12:33 pm

oldzey wrote:
Sun May 06, 2018 12:26 pm
Charlie had some amusing words about cryptocurrencies.
I thought it was funny when he looked like he was falling asleep while the environmentalist was giving their question/speech. I was actually a bit disappointed Charlie didn't speak up more.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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segfault
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by segfault » Sun May 06, 2018 10:04 pm

JoMoney wrote:
Sun May 06, 2018 12:33 pm
oldzey wrote:
Sun May 06, 2018 12:26 pm
Charlie had some amusing words about cryptocurrencies.
I thought it was funny when he looked like he was falling asleep while the environmentalist was giving their question/speech. I was actually a bit disappointed Charlie didn't speak up more.
I must have missed that. Was it towards the end of the meeting? I left around 3:00. I'll have to watch the stream to see the parts I missed.

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JoMoney
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by JoMoney » Sun May 06, 2018 11:43 pm

segfault wrote:
Sun May 06, 2018 10:04 pm
JoMoney wrote:
Sun May 06, 2018 12:33 pm
oldzey wrote:
Sun May 06, 2018 12:26 pm
Charlie had some amusing words about cryptocurrencies.
I thought it was funny when he looked like he was falling asleep while the environmentalist was giving their question/speech. I was actually a bit disappointed Charlie didn't speak up more.
I must have missed that. Was it towards the end of the meeting? I left around 3:00. I'll have to watch the stream to see the parts I missed.
Yes, at the end around the 7hr mark, it was about a shareholder vote/initiative
Image
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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oldzey
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by oldzey » Mon May 07, 2018 6:16 pm

I agree that Charlie was pretty tame overall. However, he did have his moments (start at the 4:00 mark):

https://finance.yahoo.com/news/bitcoin- ... 01721.html
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

Caduceus
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by Caduceus » Tue May 08, 2018 10:37 am

Apparently the archived videos and transcripts of past year meetings are also now available through CNBC. Buffett was generous enough to recently gift these priceless historical materials to them and by extension to the rest of the world. 8-) I've been spending many happy hours on the site.

lazyday
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by lazyday » Tue May 08, 2018 10:42 am

Added more time markers viewtopic.php?f=10&t=248764&p=3914979#p3914979

Anyone using that? I might not bother next year. Also I'm not willing to get through it quickly, so only useful to someone who is slower watching than I.

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JoMoney
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by JoMoney » Tue May 08, 2018 3:21 pm

Caduceus wrote:
Tue May 08, 2018 10:37 am
Apparently the archived videos and transcripts of past year meetings are also now available through CNBC. Buffett was generous enough to recently gift these priceless historical materials to them and by extension to the rest of the world. 8-) I've been spending many happy hours on the site.
Thanks for mentioning this! It didn't come up when I searched on the website, but I found it through google

https://www.cnbc.com/2018/05/05/cnbc-la ... chive.html
https://buffett.cnbc.com/

This was an interesting one I thought, especially with his response regarding trying value an index fund by P/E ratio or other metrics, Japan, and living in a low-interest world:
https://buffett.cnbc.com/video/2002/05/ ... 9&end=3694
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

Caduceus
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Re: Berkshire Hathaway Annual Meeting Today 5/5 - Yahoo Livestream

Post by Caduceus » Wed May 09, 2018 11:39 am

JoMoney wrote:
Tue May 08, 2018 3:21 pm
Caduceus wrote:
Tue May 08, 2018 10:37 am
Apparently the archived videos and transcripts of past year meetings are also now available through CNBC. Buffett was generous enough to recently gift these priceless historical materials to them and by extension to the rest of the world. 8-) I've been spending many happy hours on the site.
Thanks for mentioning this! It didn't come up when I searched on the website, but I found it through google

https://www.cnbc.com/2018/05/05/cnbc-la ... chive.html
https://buffett.cnbc.com/

This was an interesting one I thought, especially with his response regarding trying value an index fund by P/E ratio or other metrics, Japan, and living in a low-interest world:
https://buffett.cnbc.com/video/2002/05/ ... 9&end=3694
You are most welcome! I've been waiting for this for a long time, so I was one of the first people to visit the site, I am sure. 8-)

Daniel Pecaut has written a summary of Berkshire Hathaway's previous meetings based off his notes when he attended them, but they pale in comparison to the words of Buffett himself, although I would still recommend the book. I think it was recently going on sale at $2.99 on Amazon too.

I'm currently reading volume 2 of Andy Kilpatrick's history of Berkshire hathaway. The organization of the book is strange and a little random, but it has a lot of information in it that other books on Buffett (Schroeder, Lowenstein, etc.) don't have, so it's fairly unique and also recommended. A lot of Buffett's smaller purchases are mentioned in Kilpatrick's book.

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