1997-Afternoon Session-BRK Annual Shareholders Meeting

1

Introduction

00:00 • 6min

2

The Importance of Opportunity Cost

05:50 • 4min

3

The Future of Coca-Cola

09:56 • 3min

4

The Importance of Getting the Right Answer

12:36 • 3min

5

The Dow and the S&P 500: A Comparison

15:15 • 3min

6

The Risk of a Bubble in the Market

17:51 • 2min

7

The Advantages of Investing in Foreign Company Stocks

20:12 • 5min

8

The Kansas Bankers' Business and Its Competitors

25:31 • 3min

9

The Advantages of Convertible Notes

29:00 • 5min

10

The Impact of Hurricane Andrew on the Super-Cat Industry

33:36 • 3min

11

The Advantages of Being in the Insurance Business

36:49 • 3min

12

The Unwitting Super-Cat Exposure

40:00 • 5min

13

The Importance of Understanding Your Business

44:31 • 4min

14

The Effect of Inflation on Cash Flows

48:25 • 5min

15

The Importance of Investments in the Insurance Business

53:11 • 3min

16

The Importance of Not Paying Dividends

56:34 • 2min

17

The Importance of Dividend Policy in American Education

58:55 • 3min

18

The Return on Equity of the Poor 500

01:02:05 • 2min

19

The Value of a Bond With a 22 Percent Coupon

01:04:03 • 58sec

20

The Petersburg Paradox and the Growth Stock Fallacy

01:05:01 • 5min

21

The Importance of Share of Mind

01:10:12 • 3min

22

The Importance of Positioning in the Mind for Consumer Products

01:13:29 • 3min

23

The Importance of Learning

01:16:44 • 4min

24

The Importance of Sound Thinking

01:20:33 • 4min

25

The Moral and Ethical Considerations of Stocks Like ABC and Disney

01:24:10 • 4min

26

The Importance of Capital Flows

01:28:32 • 1min

27

The Importance of Balance in Economics

01:29:58 • 5min

28

The Berkshire Philosophy on Intellectual Capital

01:34:53 • 4min

29

The Future of Coca-Cola

01:39:22 • 3min

30

The Role of History of Civilization in Developing a Sound Investment Philosophy

01:42:07 • 3min

31

The Importance of Leaps in Investments

01:45:21 • 3min

32

The Importance of Long-Term Price Behavior

01:48:35 • 3min

33

How to Adjust for Risk

01:51:51 • 2min

34

The Origins of State Farm

01:54:10 • 3min

35

The Importance of State Farm

01:57:39 • 2min

36

The Importance of Intrinsic Value

01:59:44 • 2min

37

Coca-Cola's Repurchase Policy

02:01:22 • 4min

38

The Coca-Cola Company's Decision to Repurchase Shares

02:05:30 • 4min

39

Westco and Berkshire Hathaway

02:09:32 • 3min

40

The Influence of Graham Dodds, Graham and Phil Fisher on Investing

02:12:49 • 5min

41

The Blind Spots of Graham's Book

02:17:27 • 4min

42

McDonald's and the Price Sensitive Industry

02:21:24 • 2min

43

The Importance of Accountability in Accounting

02:22:58 • 4min

44

How Much Claim Do Berkshire Hathaway's Operating Businesses Have on Marketable Securities?

02:26:38 • 6min

45

How to Buy Great Companies at Reasonable Prices

02:32:39 • 2min

46

The Importance of Selling Your Interest in Wonderful Businesses

02:34:52 • 2min

47

How to Filter Stock Buying Opportunities

02:37:18 • 2min

48

The Danicle: The Quality Person

02:39:45 • 4min

49

How to Make Money With a Soft Drink Company That Doesn't Dominate the Business

02:43:53 • 6min