2016 Berkshire Hathaway Annual Meeting (Full Version)

Berkshire Hathaway annual shareholder meeting (April 30, 2016)
Video combines Morning session & Afternoon session.

[jatildon]

4:50:45 Warren about the origination of his sense of humor which can be noticed in his letters to the shareholders and interviews

[SeenaAbedi]

4:03:26 Question regarding incentives. Charlie gives his input but then turns it over to Warren to break down GEICO's incentive system.

[SeenaAbedi]

3:55:02 Charlie talks about Japans negative interest rate over the last 25 years and how they’ve tried every trick to get out of their situation but haven’t been able to.

[SeenaAbedi]

2:48:57 Jamie Dimon is very explicit about saying he's going to buy back the stock when he's buying it below what he considers intrinsic value to be but I have seen hundreds of buyback notices and I've sat on boards of directors once after another where they buybacks and they said they were doing it to prevent dilution or something like that but it's has nothing to do with preventing dilution. Dilution by itself is a negative and buying back your stock at too high of a price is another negative."

[shankarbalakrishnan]

Thks warren wait for the markets to finish down because I'm on a serious high don't have the time for anyone and might forget u when im done ❤❤🎉🎉 see u then bye

[SeenaAbedi]

1:46:04 “There’s no one you’ll run into, at least in my experience, that says with my same talents, I wish I’d live 50 years ago instead and have been born 50 years earlier. A significant majority of the American public thinks that it’s a bad time to be born today compared to when they were born, they’re wrong. The pace of innovation, just think how different you’re living compared to 20 years ago in terms of what you do with your time. A lot of people may condemn it or something of sort but you’re making free choices that were not available to you 20 years ago and you’re making them in a different direction.”

[jatildon]

3:21:20 warren’s overview philosophy about investing in general

[SeenaAbedi]

2:06:09 Warren is questioned regarding Sequoia fund and it's large position in Valiant pharmaceuticals. Munger has termed Valiant's business as highly immoral.

Buffett goes on to explain that he in a sense the father of Sequoia fund and goes on to explain his relationship with William Ruane and what happened with Sequoia fund.

[SeenaAbedi]

4:27:36 Most American corporations separate out one-time restructuring costs where is BRK doesn’t.

Charlie jumps in to answer the question by saying that it’s similar to killing your mother in order to the get insurance money.

[SeenaAbedi]

2:15:00 Warren puts up the slide regarding his 10 year bet of S&P 500 vs hedge funds.

The S&P is destroying the hedge funds and Warren goes on to give a speech about human tendencies, peoples expectations and many other things.

[SeenaAbedi]

4:50:55 “I think if you see the world accurately, it’s bound to be humorous because it’s ridiculous.”

[SeenaAbedi]

4:01:15 Warren and Charlie are asked if it's worth it for BRK to invest in cattle due to increase in the worlds population.

[booneguy]

Whoever who asked the "diversity" -question: We already know you have seldom been the winner within your game. There's no place for participation trophies among competent circles.

[SeenaAbedi]

1:41:08 Warren is asked if Donald Trump becomes the president of the United States

[raimondasmarciulevicius]

Together

Warren together with Charlie are good managers. Berkshire Hathaway is a good American company.