1996-Afternoon Session-BRK Annual Shareholders Meeting

1

Introduction

00:00 • 2min

2

Bill Gates and American Express

01:52 • 2min

3

How to Choose a Good Manager for Your Business

03:29 • 2min

4

The Importance of Good Management in American Business

05:31 • 2min

5

The Importance of Diversification in Corporate America

07:06 • 3min

6

The Importance of Diversification

09:49 • 2min

7

The Importance of Owning Three Wonderful Businesses

11:34 • 2min

8

The Importance of Portfolio Theory in Corporate Finance

13:35 • 2min

9

The Future of Business

15:33 • 1min

10

The Importance of Efficiency in the Textile Industry

17:01 • 3min

11

The Displacement of People

19:43 • 2min

12

Warren Buffett: The Importance of Downsizing

21:27 • 3min

13

The Negative Effects of Capital in the Reinsurance Business

24:44 • 2min

14

The Importance of a Budget in Insurance

26:40 • 1min

15

The Future of Reinsurance

28:07 • 2min

16

Berkshire Hathaway's International Reinsurance Business

30:17 • 2min

17

GEICO's Future in the United States

31:58 • 2min

18

The Cost of Focused Management at GEICO

33:31 • 2min

19

The Importance of Focus in Emerging Markets

35:16 • 2min

20

The U.S. Air Preferentially Addresses and Corrects Fundamental Problems

37:07 • 2min

21

The Inherent Value of Insurance Businesses

38:53 • 2min

22

The Value of the Insurance Business

40:34 • 2min

23

The Importance of Running a Business Right

42:29 • 2min

24

Freddie Mac's Convexity Problem

44:04 • 2min

25

The Importance of Investing in Your Portfolio

45:46 • 2min

26

The Importance of Owning a Great Company

47:44 • 2min

27

Phil Carrey: The Hero of Investing

49:25 • 1min

28

How to Invest in High Technology Stocks

50:54 • 3min

29

The Impact of Change on Business

54:01 • 3min

30

The Vicissitudes of Time

56:45 • 2min

31

The 2000 Question With Computers

59:14 • 2min

32

The Unusual Portfolio of Berkshire Hathaway

01:00:44 • 2min

33

The Future of Berkshire

01:02:28 • 2min

34

The Importance of Michael Eisner in Disney's Success

01:04:51 • 1min

35

The Future of Disney

01:06:19 • 3min

36

Solomon's Investments in the Security Business

01:09:23 • 2min

37

The Rise of the NASDAQ Market

01:11:27 • 2min

38

How to Make Money Shorting Stocks

01:13:15 • 2min

39

The Role of Foreign Companies in Berkshire Hathaway

01:15:13 • 2min

40

Where Is the Money Set That Comes In, Say, From Dividends?

01:17:15 • 2min

41

Solomon's Volatility in Profits

01:18:57 • 4min

42

The Volatility of Solomon's Earnings

01:22:54 • 3min

43

The Effect of Lloyd's on Berkshire Insurance

01:25:25 • 2min

44

The 100 or So Models We Ought to Have in Our Head

01:26:55 • 3min

45

The Importance of Focusing on Business Patterns

01:29:57 • 2min

46

The Problem With Rewarding Companies for Capital

01:31:37 • 2min

47

How to Charge People for Capital

01:33:15 • 2min

48

The Fair Way to Compensation Your Managers

01:35:18 • 1min

49

The Circle of Competence of Michael Eisner

01:36:44 • 2min

50

The Advantages of Owning a Mouse

01:38:26 • 2min

51

The Unlearning of Dawkins

01:40:16 • 2min

52

The Intelligent Investor

01:42:30 • 2min

53

The Advantages of Owning a Business

01:44:26 • 2min

54

The Importance of Market Share in Opportunity Insurance

01:46:03 • 2min

55

The Future of Insurance

01:47:36 • 2min

56

The Importance of Imagining Capitalist Premises

01:49:20 • 3min

57

The Inequality of Opportunity

01:52:07 • 2min

58

The Importance of Social Intervention in Capitalism

01:54:02 • 3min

59

The Competitive Position of Wells Fargo

01:56:43 • 2min

60

The Advantages of an in-Market Merger

01:59:06 • 2min

61

The Advantages of Mergers in Banking

02:01:34 • 2min

62

JICO's Asset Allocation Decisions After the Merger

02:03:42 • 2min

63

The Future of JICO

02:05:46 • 2min

64

The Future of Investment Portfolios

02:07:26 • 2min

65

The Two-Tier Market Created Difficulties

02:09:10 • 2min

66

The Importance of Floating Businesses

02:11:27 • 2min

67

The Liquidity of Class B Stock

02:13:10 • 3min

68

The $40 Billion to $400 Million Ratio

02:15:49 • 2min

69

The Impact of Inflation on the Equity Market

02:18:05 • 2min

70

The Impact of Equity Cap on Return on Equity

02:19:56 • 2min

71

The Impact of Consolidation on American Industry

02:21:28 • 2min

72

The Retail Store Industry: A Tough Business

02:23:49 • 2min