I have long wanted to attend the annual general meeting of Berkshire Hathaway in which Warren Buffett and Charlie Muger spend hours answering questions from the media, analysists and shareholders. Last year they webcast it for the firt time but I was on holiday and couldn't listen in. This year I made sure not to miss it, and it was well worth the five hours. I am not a shareholder nor do I hold any of the stocks they talk about, but there is literally a ton to learn.
The audio files (five hours) in MP3 of the morninh and afternoon sessions are below to download / listen and are well worth the time.
Risks of staff misconduct
Threats such as sugar such back against Coke, cashless payments and American Express
Stay out of enough terrible businesses you off to a good start
Selling a third of IBM while buying Apple
Peanut brittle (Munger eats it all the time)
Time will tell you if you're correct
Don't play where the other people are better
Execution is what counts
Why the buying into airlines?
Railroads were terrible for decades, now they great businesses.
Can we know enough about this to make a decision?
Executive pay and bonus options
Jeff Bezos has hit it out the park. Twice. Both times from nothing.
EBIDTA is a scam, depreciation is always a cost.
Corporate tax rates and hidden corporate cost of medical insurance
Being wrong, ling ignorant and missing out
Threat of online
Active vs. passive and fees charged by the industry