TIMESAVER EDIT 2021 Berkshire Hathaway Annual Meeting Full Q&A with Warren Buffett & Charlie Munger

Lessons on investing and insights into Berkshire Hathaway with all the answers to shareholder questions and all the preliminary presentation by Warren Buffett.

Content:

8:36 2021 Q1 Summary: OPER earnings + Unrealized Investment Earnings/losses on that day. 2020 Q1, economy shut down, market down -30%, self induced recession.

15:00 the US system works! The top 20 companies ranked by market value 30 years ago vs now. None of the top 20 companies 30 years ago made to the list; All Japanese companies fell off the ranking, while many Chinese companies made to the list. Conclusions: capitalism works but the world can change in a very very dramatic way.

20:00 Overall equities are the place to be. XYZ industry … 1900s: Henry Ford, the auto Industry debut, transformed the whole country, highways, insurance, all kinds inventions based on cars as rear view mirror (Marmon), seat belt, 2000+ car companies, now 3 left while 2 bankrupted.

26:00 During 2020 pandemic, why didn’t repurchase/buy aggressively but sold airline shares? Airlines went through bankruptcy, the entire airline businesses combined sold for $100 B compares to Apple $2 T, and they lost significant amount of earnings and the prospect earnings due to reduced travels. We got $600 B good businesses, only shedded 1% of it, still got exposure through American Express and Precisioncast.

35:35 Don’t depend on anybody
37:59 Balance Sheet
46:50 perfection, benefits, pros and cons
1:34:45 consequences in everything.

[BibinBCherian]

1:16:00 Charlie ages at close to 1% a year, a 25-year old ages at 4% a year; we have the slowest aging management - brilliant and hilarious.

[BibinBCherian]

Thanks IDP for your efforts on these: been through all the Berkshire meetings since 1994 - enjoyable learning experience. Cheers!

[davidmercado]

As a shareholder said in another Berkshire meeting thanks Warren and Charlie you guys have given us joy during lot of years and have allowed us to create a happier life 😊

[syibol]

A mild critique of the index funds industry at 42:33. Warren hints at the fact industry-specific or sector-specific indexes may be defeating the purpose of indexing. That's because choosing a winner specialized index may be as hard as choosing a winner stock; a skill most people do not have.

[DTND]

Thank you for making these condensed videos every year. Much appreciated as always

[ovais]

Guys you have done a service to humanity by compiling these videos !! Thank you so much

[luckychzn]

Can't express how much i look up to and love charlie munger!!

[eddierosario]

I watched from 1994-2021 (twice) and I learned a lot from these videos thank you idp!!

[JenPurple]

35:35 Don’t depend on anybody
37:59 Balance Sheet
46:50 perfection, benefits, pros and cons
1:34:45 consequences in everything.

[eddierosario]

Idp when are you dropping the 2022 video?!!

[raymondcaylor]

2:58:45 there's your answer right from Charlie's mouth.... it's Greg

[Discordxeroxero]

It will be awesome if you can add the questions in the description as highlighted times

Would be Great.

[JenPurple]

Meeting panel intro

8:36 2021 Q1 Summary: OPER earnings + Unrealized Investment Earnings/losses on that day. 2020 Q1, economy shut down, market down -30%, self induced recession.

15:00 the US system works! The top 20 companies ranked by market value 30 years ago vs now. None of the top 20 companies 30 years ago made to the list; All Japanese companies fell off the ranking, while many Chinese companies made to the list. Conclusions: capitalism works but the world can change in a very very dramatic way.

20:00 Overall equities are the place to be. XYZ industry … 1900s: Henry Ford, the auto Industry debut, transformed the whole country, highways, insurance, all kinds inventions based on cars as rear view mirror (Marmon), seat belt, 2000+ car companies, now 3 left while 2 bankrupted.

26:00 During 2020 pandemic, why didn’t repurchase/buy aggressively but sold airline shares? Airlines went through bankruptcy, the entire airline businesses combined sold for $100 B compares to Apple $2 T, and they lost significant amount of earnings and the prospect earnings due to reduced travels. We got $600 B good businesses, only shedded 1% of it, still got exposure through American Express and Precisioncast.

33:00 The Fed moved with speed and decisiveness when the economy stopped. Run on money market funds repeat of 2008. Fiscal and monetary policies. Didn’t know or sure what’s gonna happen.

42:00 Index fund vs BRK. 500 Index fund is the choice for ppl who don’t know anything about stocks.

[jrad]

Can’t find the full vid for 2022. Maybe cus it’s cnbc and not yahoo finance. Any one know where to find the full video for 2022?

[LanternEnergy]

I admit, I didn’t listen to two of the greatest and they told me don’t buy at high evaluations, I did, got burned, didn’t lose my backside but I got burned, lesson learned about the dangers of fomo

[edgarmarroquinesquivel]

2:28:25 my favorite part of the whole interview. Buffets response is hilarious.

[Rayquesto]

1:58:39 Going ham on the peanut brittle.

[Rayquesto]

1:52:10 Charlie Munger Choking “give ya a repurchasing stock”.

[nishant]

32:00 for you if you didn't buy things in March 2020

[FLSharkdiver]

Charlie @MIN 47:33 is a trip..lol .. Thank you for the video but what's interesting is Buffet bought more share of Cheron even know there earrings are forecast to decline by an average of 14% per year for the next 3 years .. He must know something!! 👍👍👍BUFFETT & MUNGER ARE THE GOATS !!