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