Berkshire Hathaway Annual Shareholder Meetings (since 1994) 2023-Part 1-BRK Annual Shareholders Meeting
21 snips
May 15, 2023 AI Snips
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Transcript
Episode notes
Operating Earnings vs. Stock Prices
- Berkshire's operating earnings exclude capital gains because stock prices fluctuate unpredictably over short periods.
- The real value comes from owning businesses whose earnings are more stable than market stock valuations.
Interest Rate Impact on Income
- A massive rise in interest rates has greatly increased Berkshire's investment income from previously minimal yields.
- The firm now earns billions annually on short-term investments, improving overall earnings potential.
Post-Pandemic Consumer Shift
- The extraordinary consumer demand period after the pandemic has ended, causing slower sales this year.
- Businesses are adjusting to inventory surpluses and less urgent consumer buying behavior.