We Study Billionaires - The Investor’s Podcast Network TIP246: Part 2 - Berkshire Hathaway Shareholders Meeting Q&A - Warren Buffett & Charlie Munger (Business Podcast)
Jun 9, 2019
Warren Buffett, the legendary CEO of Berkshire Hathaway, and his right-hand man Charlie Munger share insights from their annual shareholder meeting. They discuss whether Buffett would invest in index funds with his vast cash reserves. The duo also sheds light on building a circle of competence in investing, their unique views on corporate governance, and the impact of AI on job markets. Lastly, they emphasize the importance of evaluating companies for their long-term potential rather than just immediate profits.
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Build Your Circle of Competence
- Focus on gaining knowledge in areas of interest, exceeding competitors.
- Be a "knowledge pig" like Buffett and Munger, constantly learning.
Berkshire's Unconventional Approach
- Berkshire prioritizes empowering managers and avoids unnecessary corporate procedures.
- Buffett and Munger question the independence of some corporate boards due to financial incentives.
Cash vs. Index Funds
- Buffett acknowledges the potential benefit of indexing excess cash, especially for smaller sums.
- However, Berkshire prioritizes maintaining large cash reserves for major investment opportunities.