Buffett, who presided over Berkshire’s 51st annual shareholder meeting in Omaha, Nebraska over the weekend, told cable television network CNBC: “We would be much more likely to buy more in the next 12 or 24 months than we would be to sell shares, but we will make that call as time goes along”. Buffett said he arranged the online version so more shareholders could see him and Munger at work and so business owners in other countries could become more familiar with Berkshire.
Advertisement
Warren Buffett says Wall Street’s real source of wealth is not based on its strong investment acumen.
The obviously slim and healthy 86-year-old go-getter says sugar alone can’t make your fat.
Warren Buffett doesn’t think Coca-Cola’s critics are write to blame the company’s sugary beverages for obesity. That vote will come at the end of Saturday’s meeting. Shareholders overwhelmingly rejected the resolution after Buffett argued that climate change won’t hurt its insurance companies because they generally reprice their policies annually. Hull adds Buffett confirmed at the shareholders meeting that there’s no manifesto explaining the company’s culture, but executives such as Howard will be there to carry on Buffett’s wishes.
“That won’t be the main problem”, he said to audience laughter, before going on to say Berkshire will “be fine” if either of the two wins.
To eventually replace the 85-year-old Buffett, Berkshire plans to split his job into three parts – chief executive officer, chairman and several investment managers.
“It was touted as a reason for buying the stock, and for why he could make the acquisitions”, Mr. Buffett said.
Munger, who also serves on a hospital board, was more direct in his criticism.
Buffett told shareholders that some of the keys to successful investing are avoiding envy and costly fees.
In response to a question from a shareholder from Bonn, Germany, Buffett said one of the biggest recent changes in business is the switch from “push” selling – advertising products and services to consumers – to “pull” selling, when consumers find what they want on the Internet. If you would like to discuss another topic, look for a relevant article.
One of the bits in the movie showed Berkshire CEO campaigning to earn a spot in the Celebrity Apprentice show with Arnold Schwarzenegger.
Berkshire Vice Chairman Charlie Munger, who also participated in the interview, said he “strongly suspects” it was stupid for the USA government to rely so heavily on printing money, and the economy would be better off if the US used fiscal stimulus rather than monetary stimulus.
Advertisement
“Railroad carloading throughout the industry – all of the major railroads – were down significantly in the first quarter, and probably nearly certainly will continue to be down for the balance of the year”, Buffett said.
