1995-Afternoon Session-BRK Annual Shareholders Meeting

This podcast transcript captures a Q&A session featuring Warren Buffett and Charlie Munger, who address a variety of questions from shareholders. The topics range from investment strategies in banks and foreign equities to discussions on Berkshire Hathaway's cash management, acquisition criteria, and employee compensation. They also delve into broader economic issues such as the national debt, interest rates, and the challenges in the airline and newspaper industries. Additionally, they share personal anecdotes and insights on business ethics, the importance of a long-term investment horizon, and the qualities they seek in company management, providing a comprehensive overview of their investment philosophy and business perspectives.

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Berkshire Hathaway Annual Shareholder Meetings (since 1994)

Acquisition Criteria, Sector Allocation, and Employee Compensation

Market Rates, Compensation Systems, and Envy on Wall Street

Cash Holdings, Newspaper Business, and Unfriendly Takeovers

Investment Philosophies, Accounting Practices, and Reinsurance Business

Global Investments, Share Repurchases, and Investment Disclosure Policies

Berkshire's Insignia, Meeting Location, and Intrinsic Value

Stock Fluctuations, Technology Investments, and Learning from Others

Management Compensation, International Exchange, and Stock Ideas

Lawsuits, Borsheim's Stores, and Return on Equity

Capital Allocation, Shareholder Equity, and Credit Card Usage

Banking Franchises, Salomon Brothers, and the National Debt

Coca-Cola, Investment Strategies, and International Equities

Money Managers, Insurance Companies, and Subjective Assessments

Valuation, US Air, and Stock Splits

1995-Afternoon Session-BRK Annual Shareholders Meeting

Berkshire Hathaway Annual Shareholder Meetings (since 1994)

00:01Acquisition Criteria, Sector Allocation, and Employee Compensation

Acquisition Criteria, Sector Allocation, and Employee Compensation

07:23Market Rates, Compensation Systems, and Envy on Wall Street

Market Rates, Compensation Systems, and Envy on Wall Street

13:37Cash Holdings, Newspaper Business, and Unfriendly Takeovers

Cash Holdings, Newspaper Business, and Unfriendly Takeovers

25:50Investment Philosophies, Accounting Practices, and Reinsurance Business

Investment Philosophies, Accounting Practices, and Reinsurance Business

34:28Global Investments, Share Repurchases, and Investment Disclosure Policies

Global Investments, Share Repurchases, and Investment Disclosure Policies

45:01Berkshire's Insignia, Meeting Location, and Intrinsic Value

Berkshire's Insignia, Meeting Location, and Intrinsic Value

55:50Stock Fluctuations, Technology Investments, and Learning from Others

Stock Fluctuations, Technology Investments, and Learning from Others

1:05:24Management Compensation, International Exchange, and Stock Ideas

Management Compensation, International Exchange, and Stock Ideas

1:17:42Lawsuits, Borsheim's Stores, and Return on Equity

Lawsuits, Borsheim's Stores, and Return on Equity

1:27:53Capital Allocation, Shareholder Equity, and Credit Card Usage

Capital Allocation, Shareholder Equity, and Credit Card Usage

1:37:34Banking Franchises, Salomon Brothers, and the National Debt

Banking Franchises, Salomon Brothers, and the National Debt

1:47:20Coca-Cola, Investment Strategies, and International Equities

Coca-Cola, Investment Strategies, and International Equities

1:57:30Money Managers, Insurance Companies, and Subjective Assessments

Money Managers, Insurance Companies, and Subjective Assessments

2:07:21Valuation, US Air, and Stock Splits

Valuation, US Air, and Stock Splits