Warren Buffett is certainly not a rock celebrity of this investment globe; he is the rock star for the investment world - a monetary Elvis Presley. It's not surprising that individuals relate to the Berkshire Hathaway Annual Meeting while the "Woodstock of Capitalism". While there had been all the usual beverage receptions, dinners and exhibitors and recommendations for OpenOffice Annual Business Meeting Agenda Template for the annual meeting, this meeting was, needless to say primarily about business.
Berkshire Hathaway Annual Meeting -The Company
At this year's meeting, despite having Berkshire Hathaway's market price down about 30 %, attendance had been more than actually with about 25,000 - 30,000 men and women showing away from approximately 100,000 shareholder credentials granted. Not surprisingly, almost all regarding the talk at this year's meeting had been centered about how to maximize return during a financial downturn, and also the impact regarding the pending Wall Street reform legislation. Some take-away from Buffett's constantly common concern and response session with long-time business companion Charlie Munger:
* Purchase of this Philadelphia Enquirer - Buffett stated he is thinking about purchasing the struggling paper.
* Succession - This subject has come up every year, and although Buffett has declined to name a selected successor, he has mentioned that four expense supervisors are currently in the working, though he failed to go as far as to names.
* Position on types - Buffett does not see serious impact from the Wall Street reform costs to Berkshire Hathaway's derivatives position. In virtually any occasion, derivatives are maybe not a huge amount of Berkshire Hathaway's company anyhow, currently carrying only about 250 contracts.
* Inflation - Munger says to wager on it, maybe so it will be also higher than professionals are at this time predicting.
* Taxes - Buffett reaffirmed his position that fees ought to be greater from the rich, but he tempered that comment by stating that money spent by the federal government on assisting the poor would be better taken care of by charities. Buffett has revealed into the past that a big component of his property will be willed to charity organizations.
It was a marathon six hour session with Buffett and Muger showing great electricity and excitement. The reality that the economy is into the midst of a malaise not seen since the Great anxiety performed not seem to dampen their particular fervor; even though it is well known that Buffett's biggest achievements have come during occasions during the economic adversity. His overall philosophy continues to be constant, be truthful and ethical, be rational and do what you love performing.