Top 5 Quotes from Berkshire's Annual Meeting
Top 5 Quotes from Berkshire's Annual Meeting
HomeLatest ArticlesMore than 30,000 shareholders attended the Berkshire Hathaway (BRK.A) annual meeting on Saturday, with chairman Warren Buffett and vice chairman Charlie Munger once again answering a wide array of shareholder questions. Here are our Top 5 quotes in three categories: Top 5 Quotes by Warren Buffett   On market timing: "We don’t try to pick bottoms. To sit around and not do something sensible because you think there might be something better…. doesn’t make sense. Picking bottoms is not our game. Pricing is our game. And that’s not so difficult. Picking bottoms is, I think, impossible."  On keeping Berkshire as one entity: "We’ve got this ability in terms of moving money around into various opportunities without tax consequences. So if See’s Candies is a wonderful business, which it is and generates capital that can’t be used in that business - we can use it toward another business…"  On Berkshire's credit rating: "We’re still a AAA in my mind and in Standard & Poor’s mind."  On contracts: "We don’t want relationships that are based on contracts. I can’t really think of a formal contract that we have. We have understandings about bonus arrangements with various managers. We have different arrangements because all the businesses are different. We don’t try to hold people by contracts and it wouldn’t work. We basically don’t like engaging in them."  On government action to save economy: "Overall I commend the actions that were taken. To expect perfection from people working 20 hour days and getting hit by new and sometimes bad information - when you’re getting punched from all sides - you’re not gonna do everything perfectly. I think overall they did a very good job…"  Top 5 Quotes by Charlie Munger   On the future: "Now that I’m so close to the age of death - I am Recommended For You