Berkshire Hathaway Annual Shareholder Meetings (since 1994) 2011-Afternoon Session-BRK Annual Shareholders Meeting
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Dec 1, 2018 Topics discussed in this podcast include investment in BYD and the oil market, history of panics and depressions, Berkshire's focus on large acquisitions, praise for Ajit Jain, evaluating business acquisitions, teaching finance and learning from business history, determining the success of allocating capital, reflections on a college roommate and the debt ceiling, bipartisan foreign policy and nuclear power, Berkshire Hathaway's shareholder-directed charitable giving program, wind power as a source of renewable energy, Berkshire Hathaway's role in saving companies and investment advice for young people, and reducing greenhouse gas emissions at Berkshire Hathaway.
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Oil Price Uncertainty
- Oil is a finite resource, and over time its price will be higher due to scarcity and increased demand.
- Predicting short-term oil prices is futile, so Berkshire avoids hedging commodities like oil.
Insider Trading Safeguards
- Berkshire uses a restricted list to prevent insider trading on securities with current buying or selling interest.
- Corporate officers and subsidiaries' top officers need CFO consent before trading in restricted securities.
Equity Portfolio Remains Important
- Berkshire's equity portfolio remains important despite a focus on large acquisitions.
- Portfolio management continues to demand significant time, especially due to the large cash and securities held.