2014 Berkshire Hathaway Annual Meeting (Full Version)

Berkshire Hathaway annual shareholder meeting (May 3, 2014)
Video combines Morning session & Afternoon session.

[joshmeisterr]

Thank you for posting. Watched the whole thing through. It is incredible to be living at a time when we can tune in on these greats - for free!

[SeenaAbedi]

4:18:44 "The answer to your question about buying a sports team is no. In fact, if Charlie and I, if you read that either one of us is buying a sports team, it may be time to talk about successors."

[bradkenops]

Please help me find this timestamp - in one of the meetings warren says "the moat of Costco is not doing 1 particular thing better than anyone else, but Costco does 400 things just a little better than all it's competitors. He then says if you think about it, that kind of moat is a lot stronger and harder to establish than the 1 area moat. - I can't find the video clip, does anyone know what timestamp?

[SeenaAbedi]

4:51:48 Warren talks about his Brazilian friends, Jorge Paulo Lehman and Carlos Alberto Sicupira

[SeenaAbedi]

2:19:28 Warren thinks Ben Bernanke was a hero during the crash and subsequently. What was interesting to Warren, once the minute of the feds came out in 2007 and 2008, was how many members of the fed weren't getting the severity of the situation.

[FighterX]

42:44 MBAs who want to show their stuff
46:00 the social reason for a comp committee rarely voting down a compensation proposal. Independent directors are seldom independent. They depend on directors salary and they love the passive gig where you show up just 4-6 times a year and they want to keep getting offers for more director seats.
55:42 Cost of capital definition: every $ retained creates more than a $ of mkt value.
2:58:08 operational leverage of a cheaply valued stock.
3:21:15 finding what fascinates you
3:36:07 standard of living doesn’t equate with the cost of living beyond the certain amount.
3:43:52 intrinsic value

[SeenaAbedi]

3:23:14 Charlie tells a story of how Larry Bird would ask every agent of why they should be selected and if they wouldn’t be selected, who would they recommend. Since all of them recommended the same #2 choice, Larry hired him and negotiated the best contract in history.

[SeenaAbedi]

4:23:05 What do you make of the larger trend of activism in corporate America given that it's in the news so much today.