Berkshire Hathaway Annual Meeting Summary 2022

"It really feels good to get back and be doing this in person. It’s been three years. And it’s a lot

better seeing actual shareholders, owners, partners... ...I mean, for example, if we had a manager someplace that was 98, I might want to send somebody by occasionally to see whether he was cutting paper dolls or something. We probably do things that are a lot more foolish than cutting out paper dolls, but we’re having a lot of fun doing it. And we really have a lot of fun when you come visit us." --Warren Buffett, 4/30/2022

Attached here are highlights and a summary of key takeaways from the recently completed Berkshire Hathaway Annual meeting. It's a long read, so here are three highlights:

1. Berkshire invested over $50 billion into listed equities during Q1 2022 (basically all in March) - the most active quarter in quite some time

2. Warren said that he wouldn't buy all the bitcoin in the world for $25. Charlie called it stupid, evil, and (a cherry on top) makes you look foolish.

3. Berkshire has been investing heavily in oil and energy stocks... Charlie Munger likely explained it best: "I think oil is going to be very precious stuff over the next 200 years. And nobody else has my view, so it doesn’t bother me, I just think they’re all wrong."

I hope you enjoy the attached summary and please don't hesitate to reach out.

--Andrew

Berkshire Hathaway Annual Meeting Notes 2022.pdf

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