Berkshire Hathaway Annual Shareholder Meetings (since 1994) 2022-Part 1-BRK Annual Shareholders Meeting
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Apr 24, 2023 
Greg Abel, Vice Chairman of Non-Insurance Operations at Berkshire Hathaway, dives into the future of investing and corporate governance. He reflects on the challenges of shareholder engagement and the importance of transparency. Abel discusses the lessons learned from financial crises and how they shape investment strategies. He emphasizes a straightforward approach to investing based on intrinsic value rather than market trends. The conversation also touches on cybersecurity, government collaboration, and the ethical considerations of corporate decision-making.
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Unexpected Deals Sparked by Letters
- Berkshire's large investments like Allegheny and Occidental came from unexpected, timely personal connections.
- Warren Buffett didn't anticipate these deals days earlier; they arose spontaneously through direct dialogue and new information.
Market as Casino Enables Deals
- The stock market recently acted more like a casino than an investment venue.
- This gambling behavior enabled Berkshire to buy large stakes in companies quickly due to available shares from less active institutional holders.
Don't Try to Time Markets
- Avoid trying to time the market as even experts can't predict market moves.
- Focus on buying value when prices are attractive, not on market timing or economic forecasts.