Author Topic: Daily Journal Annual Meeting Questions  (Read 3007 times)

longinvestor

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Re: Daily Journal Annual Meeting Questions
« Reply #10 on: February 12, 2018, 01:12:57 PM »
Fwiw, @ the Omaha meeting, I've noticed some questions Munger doesn't like,

1. Tell me the formula you used so that I can (easily) get rich.
2.  Which competitor / rival would you take out.
3.  Macroeconomic questions in any flavor.

Others?

Asking a question to Munger in public always comes with the possibility of getting dismissed as a stupid question. It may be a good idea to review publicly available videos (Berkshire / DJCO meetings for the past two years, other public interviews etc.) before asking any question. Chances are they have all been asked, in one way or the other. 

Good luck!


 


nickenumbers

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Re: Daily Journal Annual Meeting Questions
« Reply #11 on: February 12, 2018, 02:32:15 PM »
Great topic about Charlie-

Speak loud, slowly and clearly.

Don't ask him get rich quick stuff.  Zero of these.

Don't ask him for the 3 easy steps of this or that.

Don't ask him for the 3 most important mental models..

He will tell you there is no easy way, and there is no shortcut and they all work together.

I want to hear him talk about BRK's cash pile, and the plan to buy or send out a special dividend.
I would also like to hear him talk about which of his favorite ideas he has trashed in favor of a new and better one.

redhots

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Re: Daily Journal Annual Meeting Questions
« Reply #12 on: February 12, 2018, 02:56:28 PM »
Ask about BYD!   (They bought more in 2017)

How will all of the EV competition effect BYD?   Is their vertical integration a competitive advantage?   Can they be the low cost producer?

longinvestor

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Re: Daily Journal Annual Meeting Questions
« Reply #13 on: February 12, 2018, 05:36:16 PM »
I would really like to hear from him why Graham doesn't work. The whole Quality versus Cigar butt thing in more detail.

wescobrk

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Re: Daily Journal Annual Meeting Questions
« Reply #14 on: February 12, 2018, 08:36:57 PM »
Ask about BYD!   (They bought more in 2017)

How will all of the EV competition effect BYD?   Is their vertical integration a competitive advantage?   Can they be the low cost producer?

Interesting, how much more did they buy in 2017?

redhots

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Re: Daily Journal Annual Meeting Questions
« Reply #15 on: February 12, 2018, 09:10:37 PM »
You can assume its BYD by comparing the fair values in the 2015 and 2016 10-K and see that they closely align with BYD share price.   

From the latest 10-K
Quote
The fair value of the foreign marketable security held in Hong Kong Dollar was $55,000,000 with an adjusted cost of $14,710,000 and $32,814,000 with an adjusted cost of $9,697,000 as of September 30, 2017 and 2016, respectively.

So we know they spent $5,013,000 since the cost went up.    If you look at end price and it is in fact BYD then they bought 929,224 shares at $5.39 a share.   It looks like purchased those around Dec 2016/Jan 2017.   (just looking at closing prices).    So an increase of 19%.     BYD is 25% of their portfolio as of 9/30/2017.

SlowAppreciation

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Re: Daily Journal Annual Meeting Questions
« Reply #16 on: February 13, 2018, 06:17:19 AM »
I've always wanted to know if, given carte blanche to redo GAAP accounting, what major changes would he seek out?