Berkshire Hathaway Annual Shareholder Meetings (since 1994) cover image

2012-Afternoon Session-BRK Annual Shareholders Meeting

Berkshire Hathaway Annual Shareholder Meetings (since 1994)

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The History of Financial Markets

In May of 1901 when the northern Pacific corner occurred and it's kind of interesting in terms of being in Omaha because Harriman was Trying to get control of the northern Pacific. A brewer in Troy, New York committed suicide by diving into a vat of hot beer because he'd gotten a margin call. Those seven days that I put up on the wall life life in financial markets Has got no relation to sigma'sI mean if everybody that operated in financial markets never had any concept of Standard errors and so on they would be a lot better off.

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