Author Topic: Berkshire 2018 Annual Meeting  (Read 14703 times)

Jurgis

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Re: Berkshire 2018 Annual Meeting
« Reply #20 on: May 05, 2018, 07:48:29 AM »
Not a bad PCP question. :)
"Before you can be rich, you must be poor." - Nef Anyo
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LounginMKL

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Re: Berkshire 2018 Annual Meeting
« Reply #21 on: May 05, 2018, 08:01:58 AM »
OK, let's get elephant into the room: Buffett looks tired.  :-\

Looks like he woke up a bit as time progresses. He must've been tired from buying all these AAPL stocks.

Jurgis

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Re: Berkshire 2018 Annual Meeting
« Reply #22 on: May 05, 2018, 08:41:29 AM »
Not a bad PCP question. :)

So far IMO Jonathan Brandt is asking the best questions.
"Before you can be rich, you must be poor." - Nef Anyo
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Graham Osborn

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Re: Berkshire 2018 Annual Meeting
« Reply #23 on: May 05, 2018, 10:17:59 AM »
"Everybody knew that America will win the war" - talk about a backwards looking fallacy...

I'm superglad they did. But was it guaranteed? What were the real American win predictions in 1942?

Edit: Let's invert. "Everybody knew that Germany will win the war" in 1942. What would an investment into German stock be worth now?  ::)

I have to agree with you on that.  If Hitler hadn’t ejected Jewish quantum physicists, they might have built the fission bomb for the Third Reich - and I think we all know what Hitler would have done to each and every Allied nation that did not “surrender unconditionally” once he was so equipped.  Every nation that is born must die, and investors must consider that in their personal calculations.  I for one know that my calculations do not align 100% with Uncle Sam’s.  But I think if I’d been there I would have bet on the US too - who wants to bet in a nation that nationalizes industry.  And if you’re wrong, you’re screwed anyway.

That said, i am looking for ways to bet on Asia-Pacifc once the securities regulations firm up.  300 years ago it was said that “the sun never sets in the British Empire.” Now, Britain is little more than a flyspeck on the economic landscape.  WW2 devastated the UK economically and paved the way for the US to steal market share.
« Last Edit: May 05, 2018, 11:07:48 AM by Graham Osborn »

Graham Osborn

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Re: Berkshire 2018 Annual Meeting
« Reply #24 on: May 05, 2018, 10:40:32 AM »
I think it’s interesting that both Buffett and Munger don’t seem repelled by the structural/ regulatory risk of Chinese securities.  Then again, I guess BYD hasn’t had a lot of sequels this far.

John Hjorth

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Re: Berkshire 2018 Annual Meeting
« Reply #25 on: May 05, 2018, 11:13:04 AM »
I'm really pleased by on Yahoo Finance to experience both those gents in good shape today!
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Graham Osborn

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Re: Berkshire 2018 Annual Meeting
« Reply #26 on: May 05, 2018, 04:08:56 PM »
I have to agree with the complaint often voiced here that the quality of the questions is just not good.  Very few substantive issues about the business are being addressed.  Unfortunately the journalists and analysts aren’t helping that much - they tend to delve into the weeds rather than asking big-picture, difficult questions.

benchmark

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Re: Berkshire 2018 Annual Meeting
« Reply #27 on: May 05, 2018, 08:43:47 PM »
From NYT:

"As for Alphabet, Mr. Buffett said that he had “made a mistake.” He said he was unable to conclude that at Alphabet’s present prices, its “prospects were far better than the prices indicated.”"

Comparing this with his investment in Apple (and IBM), I wish someone would ask him his reasonings.

Jurgis

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Re: Berkshire 2018 Annual Meeting
« Reply #28 on: May 05, 2018, 09:34:45 PM »
I have to agree with the complaint often voiced here that the quality of the questions is just not good.  Very few substantive issues about the business are being addressed.  Unfortunately the journalists and analysts aren’t helping that much - they tend to delve into the weeds rather than asking big-picture, difficult questions.

What would those big-picture, difficult questions be?
"Before you can be rich, you must be poor." - Nef Anyo
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ScottHall

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Re: Berkshire 2018 Annual Meeting
« Reply #29 on: May 05, 2018, 11:46:36 PM »
From NYT:

"As for Alphabet, Mr. Buffett said that he had “made a mistake.” He said he was unable to conclude that at Alphabet’s present prices, its “prospects were far better than the prices indicated.”"

Comparing this with his investment in Apple (and IBM), I wish someone would ask him his reasonings.

Good of him to own up to this. He has cost shareholders a lot in terms of opportunity cost the past decade, hate to say it but it's true. Outside the GFC Berkshire has done nothing impressive and TBH even considering that opportunity returns have not been that impressive compared to what they should have been with the "world's greatest investor" at the helm.

Munger says Buffett keeps getting better with age. I don't see it, honestly. He's still very good but I don't get the impression he or Berkshire have morphed with the times in the way that is sold. It's cool he's trying new things with Apple, maybe he'll get his old groove back sooner or later.

I sold my Berkshire stock a while back, held it for a quick +20% on tax reform and redeployed to better opportunities. It'll probably do fine but not much more than fine, in the long run.
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