
2003-Morning Session-BRK Annual Shareholders Meeting
Berkshire Hathaway Annual Shareholder Meetings (since 1994)
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Evaluating Options and Black Scholes Model
The speakers discuss the concept of options and their value, including the limitations of the Black Scholes model in determining the market value of options. They also examine the use and value of stock options, and criticize the flaws in the stock option system. They emphasize the need for aligning employee compensation with shareholder interest and improving the corporate compensation system.
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