Charlie

I sold Bank of America shares of my mother. When Buffett is fearful, when others are greedy it is better to listen.

+ 1 For me, the top 3 are: 1. Buffett´s shareholder letters 2. Anything Buffett or Munger wrote or said. 3. This: https://buffett.cnbc.com/annual-meetings/

Great book! If you really want it safe, stay at home. You know your home. There are no enemies (sometimes your wife) and no other catastrophes. https://www.barrons.com/articles/yacht-bayesian-mike-lynch-sinking-causes-89781e2a?mod=past_editions

It correlates with the historical weak stock market months September (or late August) to October. I think the weakest month is September and than comes the big crash month October. Probably it has to do with the emotions of people. Summer is ending and the depressing autumn is beginning. I hope the weak stock market months are living up to their name and all Berkshire shareholders should hope for it, too.

+1 Followed Buffett, Watsa and Li Lu in Occidental. It looks pretty cheap.

Sold the Apple shares of my mother. With Buffett´s selling at probably much lower prices, likely continuing selling of Buffett, a high valuation (PE of 32), China risk and the natural lack of certainty with tech it didn´t make much sense to hold. Valuations matter.

I saw this, too and was tempted to buy, but unfortunately did not.

+1 Yeah, Buffett is in investing what Micheal Phelps is in swimming, Michael Jordan is in basketball, Tiger Woods is in golf, Einstein was in physics and Mozart was in music. The best capital allocator in the world and capital allocation is enormously important. And he is surrounded by people similar to him.

Barrons take on Berkshire's earnings: Berkshire Hathaway’s Operating Profit Rises 15%, Cash Level at Record $277 Billion https://www.barrons.com/articles/berkshire-hathaway-earnings-warren-buffett-d33b8026?mod=md_stockoverview_news

In the book "Richer, Wiser, Happier" Munger talks about his investments: "Berkshire, Costco and a portfolio of Chinese stocks selected by Li Lu. The chances that any of those three bets will fail is "almost zero". I like almost zero. There are not many stocks like this.

Berkshire´s stock tends to be strong around earnings time. The nature of a great business model is that it tends to have great earnings. Apple´s stock price rise probably helps too.

Don‘t interrupt compounding unnecessarily. I got lucky that in 2011 I put everything in Berkshire. The shares got cheaper and cheaper after Buffett bought all these nice assets in the big recession. It didn´t make sense. Since then I bought when it was cheap and nearly never sold. Yesterday I was first time millionaire with my Berkshire shares. It really pays to do nothing. (Especially if you have the right partners. The only thing you have to do is to recognize what you have and hang on). The best advice on the topic, as usual, Munger gave: "Don´t be so dumb to sell your Berkshire shares." "Try to be non-idiotic, all day, every day."

Buffett at the annual meeting: "The people who check the price daily have not made the money that the people who have forgotten about it basically have over the years." It pays to do nothing.

Great video, thanks for sharing.

james22, I do also a lot of reading and running (with some sprints in it). But also do a little bit diversity like riding a bike, swimming or trampolin. It increases the fun. Jaygo, I have two boys, twins, 6 years old, the joy and stress of my life. My mother who has 5 kids used to say with the third kid comes your own neglect. I´m 48 years now and I feel too old for a third kid. With 39 years you can have more kids, but it could be a little bit stressful, especially the third one.

The mediterranean diet is probably one of the most recommended and researched way to eat and drink very healthy. I have this image on my desktop to eat and drink this way. Don´t forget the red wine.

Yeah, stress is a killer. Don't work too much. Have fun. Chose clients like you would chose friends. Get stressful people out of your life. If you are halfway rich, so what? You only have to get rich once. A lot of autoimmune diseases, heart diseases, high blood pressure etc. etc. come from stress. This is very important: Carefully chose a stressless environment. Health is probably 95% of success.

nsx5200, thank you. It looks like a great book. I bought it.

+1 nsx5200, can you recommend a good book or video about meditation. How did you learn it? "Thanks Greg! The strength training helps turn back the clock." cubsfan, which are your best strength training exercises?

OK, bought one. I hope it wil be the greatest product of all time.

Buffett said at the annual meeting, that the iPhone is maybe the greatest product of all time. Now I´m thinking about my buying my first iPhone. Do you think Buffett did marketing the iPhone or is the iPhone really that great?

Buffett: "The people who check the price daily have not made the money that the people who have forgotten about it basically have over the years." Save yourself time and do something you really enjoy.

Of course it depends on the risk prospensity of the investor. Buffett called himself a "No-risk guy".

+1 Yeah, it is pretty simple. Why should you invest in a high risk country, when you can invest in a low risk country? It doesn´t make sense.

When you are traveling that long, you are quite motivated to get the most out of the meeting. 20 years ago I did that too and managed to ask 2 questions. But not anymore.