Climateer Investing: Omaha World-Herald Coverage of the 2014 Berkshire Hathaway Annual Meeting

Saturday, May 3, 2014

Omaha World-Herald Coverage of the 2014 Berkshire Hathaway Annual Meeting

See also:
MoneyBeat: "Live Blog: The 2014 Berkshire Hathaway Annual Meeting"
Financial Times Live Blog of the 2014 Berkshire Hathaway Annual Meeting
DealBook Liveblogging the 2014 Berkshire Hathaway Shareholders Meeting (BRK)

Although they didn't always blog the Q&A the hometown (and now BRK owned) paper is essential reading for a lot of very wealthy folks and other assorted hangers-on.

"I didn't set out in life to become the assistant leader of a cult."

-Charlie Munger

Or, as MarketBeat said back in 2008:

The 5 a.m. Buffett Breakfast Club
They’re rich. They’re cheerful. They’re morning people.

From the Omaha World-Herald:

Q&A session: It's still the main attraction

The chance to ask and hear other shareholders' questions and the answers is the major draw for the 35,000 or so people expected to attend Berkshire Hathaway Inc.'s annual shareholders meeting at the CenturyLink Center Omaha.

The four-hour Q&A session with Buffett, chairman and CEO of Berkshire, and Vice Chairman Charlie Munger is the centerpiece of the meeting and its related events.

In an effort to spend the limited time on meaty questions for those who spend thousands of dollars to come to Omaha, Buffett in 2009 began alternating Q&A time between shareholders and a panel of journalists: Carol Loomis of Fortune magazine, Becky Quick of CNBC and Andrew Ross Sorkin of the New York Times and CNBC.

Each year the three solicit questions from their readers and viewers. From the 5,000 or so they each receive, they'll each choose six to ask this year.

Also in 2009, Berkshire took steps to end the footrace that occurred when speedy shareholders would dash into the meeting arena and almost fight for spaces in line at one of the microphones so they could ask a question. Instead, people who want to ask a question put in their names for an 8:15 a.m. random drawing at each of 11 microphones....MORE

This year:

...11:20

Barbara Soderlin (OWH):

Flight hours have picked up in last 6-12 months. Owners using the planes more.

11:20

Barbara Soderlin (OWH):

A satisfactory business but doesn't expect much growth.

11:21

Barbara Soderlin (OWH):

Q: How large of an acquisition is BRK comfortable targeting? Can the big holdings be a source of funds?

11:21

Barbara Soderlin (OWH):

WB: "Our goal is to buy really good businesses and big businesses and businesses where we like the managers and businesses we think we can grow over time."

11:22

Barbara Soderlin (OWH):

Wants to add earning power to BRK. "If the opportunities were large enough and we needed to raise some money, we can dip into a huge reservoir of securities and still have a huge investments thereafter. It hasn't come to that."

11:22

Barbara Soderlin (OWH):

Has $40B+ of capital and willing to take it to $20B.

11:24

Barbara Soderlin (OWH):

Charlie: Acquisitions have been and will be "irregular."
WB: People think they get turned on by stock buying.
"What really turns us on is finding a business we want to buy that fits well with BRK and that will be earning money for BRK years from now."...

...MUCH MORE

Also at the World Herald: