Berkshire Hathaway 2019 AGM - Recap and Full Video

We had a great time in Omaha this year! Warren Buffett and Charlie Munger gave a full day of thoughtful and engaging entertainment. If you missed out don’t worry; Yahoo has a full recording (see below!).

The Berkshire AGM is not just about the Big Saturday Meet. It has created a whole ecosystem of events and conferences. A few of the ones we’re aware of:

-The Creighton Value Investing Conference - We attended this and thought it was fantastic (and free). It included a great panel of Ted Bridges (Chief Investment Officer at Bridges), Robert G. Hagstrom, (Chief Investment Officer, Equity Compass Investment Management, Senior Portfolio Manager of the Global Leaders Portfolio), Susan Schmidt, (Head of U.S. Equities, Portfolio Management at Aviva Investors), Josh Shores (Co-Portfolio Manager for Southeastern Asset Management’s Non-U.S. Strategy and the Longleaf Partners International Fund), and Whitney Tilson (Founder and Chief Executive Officer of Empire Financial Research). There was also a book signing and a lecture hall of people to network with: https://business.creighton.edu/events/11th-annual-value-investing-panel

-Yellow BRKers - We have attended this in previous years but unfortunately missed it this year. Worthwhile if you can make it: http://www.yellowbrkers.com/

-Hilton Omaha Talks - It turns out a lot of companies and funds have started putting on public open talks at the Hilton in Omaha next to the convention centre. These change every year. If you’re short on planning time you can just check the digital displays in the Hilton to see what is going on where (and maybe talk your way into something non-public… :)

-Markel Brunch - This is basically an insurance Company that positions themselves as a mini-Berkshire. They started hosting a brunch the next morning after the Berkshire AGM many years ago no (where they joke that at their first brunch only two or three people showed up). It is now a large event with a Q&A format similar to BRK and a lot of interesting people to network with. http://markelbrunch.markelcorp.com/

-Krispy Kreme Donuts - Eaten and awesome for obvious reasons.

We hope to be there next year (and hope you are as well)!!

LIVE: Yahoo Finance coverage of the 2019 Berkshire Hathaway Annual Meeting with CEO Warren Buffett and Vice Chairman Charlie Munger. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
In Tags

Berkshire Hathaway 2018 AGM video and some thoughts from John Huber

In case you missed it, the annual Woodstock of Capitalism (more commonly known as the Berkshire Hathaway annual general meeting) was held in Omaha on May 5th. For 2018 Warren Buffett and Charlie Munger again sat for several hours in front of a huge crowd answering questions.

Thankfully, these meetings are provided live online for free and available after the fact too. The link to the video is below and is worth watching.

John Huber of Base Hit Investing (blog) fame also did a post about the AGM.

He had a very interesting observation:

"Yes, the markets are extremely competitive. Being in a city with so many other investors really drives this point home. But it also drives home the point that competitiveness tends to shorten investors’ collective time horizon, which makes it all the more important that one avoids groupthink and tries to utilize a time horizon that other investors aren’t capable, willing, or structured to take advantage of."

On our own separate front, one of us is doing research on a large cap Company. After going through transcripts of a few years of quarterly calls, how many questions from analysts do you think were asking about beyond the next few quarters? Exactly zero.

He also notes an excellent quote from Warren Buffett from an interview prior to the AGM. WB was asked what his thoughts were on Apple's latest quarter:

“We don’t own it for the next quarter. It’s incredible to me how you read the investor conference calls… you read all the analyst reports… they talk about what it’s going to do next year. No one buys a farm based on whether they think it’s going to rain next year or not.”

Short-term thinking indeed. Check out his full post here: http://basehitinvesting.com/two-berkshire-takeaways-and-thoughts-on-competitive-markets/

In Tags