This blog's content was taken from episode 273, "10 Lessons from Seeing Warren Buffett in Person"
You can go check out the whole episode here:
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Every year investors gather together at the Berkshire's annual shareholder meeting. Berkshire Hathaway Chairman and CEO Warren Buffett is known as the Oracle of Omaha. Both Buffett and his partner (Vice Chairman) Charlie Munger come together for this event every year to give advice and answer questions from the investors who have gathered together in Omaha from all round the world. This year there were 10 notes and quotes that really caught my attention and stuck with me from the event.
- “Value investing is getting harder” - Charlie Munger, “but it’s still the opportunity remains of people willing to look longer than 5 years,10, 15 years in a short term focused market”
- Buffett wants to be born today with a small amount of money to turn it into a big amount to show it’s still the same process. Munger said he doesn’t like envisioning his big pile as a small pile.
- “Write your obituary and reverse engineer it.” -Warren Buffett
- “You can always romanticize about the past, but it’s a better place now than when I was born”- Warren Buffett on America
- “I’ve never looked at where someone went to school when hiring.” - Warren Buffett
- China tensions thoughts
- Ben Grahams returns came from a growth stock.
- Love for Apple and question on concentration
- Banking: Warren Buffett on bank failures - The incentives and the bank executives getting off Scott free is not a good lesson to learn. People running the banking industry have important jobs and learning the wrong lessons right now.
“Bankers should be more like engineers, managing risk, not getting rich”- Charlie Munger
“Banking can have new inventions, but it has to have old values.” - Warren Buffett
10. Money printing: Called it “extreme”. You’re okay for now - “so is the man who jumps off the building until he hits the floor.” - Charlie Munger