Author Topic: Berkshire 2018 Annual Meeting  (Read 13376 times)

Jurgis

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Re: Berkshire 2018 Annual Meeting
« Reply #70 on: May 07, 2018, 01:49:27 PM »
I mostly agree with this https://www.bloomberg.com/view/articles/2018-05-07/warren-buffett-needs-to-share-the-stage
Although I'd add that Warren should have Todd and Ted there too.

But then the Omaha circus zoo show is about Warren, so probably won't happen. Maybe when Charlie dies, but even then who knows.
At least Abel talked a bit during the official business meeting, which was IMO positive.
« Last Edit: May 07, 2018, 01:54:03 PM by Jurgis »
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Spekulatius

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Re: Berkshire 2018 Annual Meeting
« Reply #71 on: May 07, 2018, 08:29:43 PM »
Quote
And of course there had to be New York parents who flew in their eight-year old daughter to read a "question" from a script they had obviously pre-written.

Yeah, I recall that one too. I loved Mungers answer when he was asked what he thought about thr question

I am glad she is not nine years old.
To be a realist, one has to believe in miracles.

kiwing100

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Re: Berkshire 2018 Annual Meeting
« Reply #72 on: May 09, 2018, 06:14:34 AM »

globalfinancepartners

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Re: Berkshire 2018 Annual Meeting
« Reply #73 on: May 10, 2018, 06:53:36 AM »
So, to my ears it sounded like Warren alluded to the likely possibility of another warrant / preferred deal being announced in the not so distant future.  Maybe not a 10% one, but something above market for Berkshire.  He mentioned, I believe, not a huge one.

The likely source seems to be QSR, but it could be anyone I guess.  He's offered similar stuff to JAB in the past, although they didn't end up getting their deal (Avon I think it was).

Any guesses?  I'll throw Domino's pizza out there since there have been rumors.  My track record of predicting Berkshire deals is very poor...

Graham Osborn

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Re: Berkshire 2018 Annual Meeting
« Reply #74 on: May 15, 2018, 06:30:30 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 arent 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?

Obviously I have a personal ax to grind.  I emailed Sorkin my question about new/ seasoned insurance business depressing the cost-of-float calc.  That got booted in favor of AI and healthcare.  If you're out there, Sorkin, know this: next year I'm emailing someone else.

Graham Osborn

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Re: Berkshire 2018 Annual Meeting
« Reply #75 on: May 15, 2018, 06:45:51 PM »
But he didn't "miss" Microsoft - it's always been "off limits" since 1991.

No, before they were on boards together there would have been no issue.  In fact, Buffett bought a tracking position after he met Gates.  He just never loaded up.  He saw the economics, but he was anti-tech at that point.  One should have a circle of competence defined by economics rather than by industry.  As far as the industrial circle of competence goes, you gotta learn - or you'll miss things.

Mephistopheles

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Re: Berkshire 2018 Annual Meeting
« Reply #76 on: May 21, 2018, 05:21:03 PM »
My suspicion is that Buffett has no real objection to buying Microsoft, as his ambitious and opportunistic self would never avoid a great investment. Instead, I bet that he either doesn't understand or doesn't think there is a durable competitive advantage in MSFT, but feels awkward admitting this because of his relationship with Gates.