I think this is a great idea - I've found a question that is:
1) Detailed (Not overly broad or "what should I do with my life")
2) Shows you have done your homework/research (about a stock or historical situation, i.e. the Amex Salad oil scandal, etc.)
3) Doesn't repeat a question previously asked (keeps it interesting for them)
4) Doesn't impact current investments and/or reveal any (current) investing secrets (They historically ignore these questions)
...usually works well.
I've asked two questions at BRK, and the one that got the best response followed this formula (not that it makes me an expert). I asked several years ago how one builds barriers to entry in an industry that has none, and they sort of batted it away with "It's too hard...we buy barriers, we don't build them".
I asked in 2015 about a brief comment Buffett made (on Charlie Rose, I think?) a while ago about how the Wall Street Journal had huge advantages but let them slip away. I felt he dug into the question, saying how it should have been Bloomberg, as WSJ had the (Telerate?) stock ticker service and lots of other resources, but it was operated like a cash cow by the owning family, (and not helped by the Lawyer who ran the trust?) and didn't see the distruptive threat coming in Bloomberg. At least that's what I remember.
I'm interested to ask why he wanted to buy the New Yorker Magazine back in the 1970s (and why he didn't). I assume because it was a great brand (with a avid readership, I assume then) going through a period where the owner wanted to sell -sort of the BRK playbook. I know Conde Nast bought it, and I read (if I remember correctly) that BRK avoided it in part because the readership may have been up in arms that a "conglomerate" was taking over their beloved magazine. On the other hand, his hands-off management style may have worked very well in this case (BRK being a great home for a beloved asset).
I'd also like to know why they didn't try to invest in or buy the only privately-owned bridge between the US and Canada. Munger has (sort-of) joked that any toll hike would make you instantly hated...but not sure if there is more than that (I imagine there is, to some extent).
Would love to hear about any other obscure but interesting questions that might get a good response. Anyone is welcome to ask these--I'll be trying as well. Just getting them answered is a win!
