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.