Berkshire Hathaway Annual Meeting 2025

[Munger_Disciple]

9 minutes ago, Buckeye said:

I saw that and thought the same thing. He also seemed a little shocked after having just learned of the news on his way over to the interview.  I thought he gave a great interview after just hearing the news.  He mentioned that he met Charlie in 1967 and Warren in 1969 and the three of them have been friends/partners for life.  What a trio.  It was a little sad and sweet.  

 

Yeah, I also thought Ron's comment about Greg needing a sounding board a bit strange. Warren is still there & Greg can discuss things with Ajit as well. The other thing odd about it was when he told Becky he would be available to her & CNBC after leaving BRK board, to chat even off-the record. 

Edited May 3, 2025 by Munger_Disciple

[sleepydragon]

8 minutes ago, Buckeye said:

I saw that and thought the same thing. He also seemed a little shocked after having just learned of the news on his way over to the interview.  I thought he gave a great interview after just hearing the news.  He mentioned that he met Charlie in 1967 and Warren in 1969 and the three of them have been friends/partners for life.  What a trio.  It was a little sad and sweet.  

 

 

I think there's a bit of sacrifice on the part of Buffett and Olson, by stepping aside now , so BRK and all shareholders can have a smooth transition, while they can watch on the side as a backup.

 

[Spooky]

40 minutes ago, John Hjorth said:

 

I have to agree with you, @Spooky,

 

You get the full afternoon session here [and it's 'raw' like was it Eddie Murphy's].

 

 

 

Thanks John. I've been reading Buffett & Munger Unscripted and have gotten used to the well organized and concise wisdom from the meetings there!

[Buckeye]

16 minutes ago, Munger_Disciple said:

 

Yeah, I also thought Ron's comment about Greg needing a sounding board a bit strange. Warren is still there & Greg can discuss things with Ajit as well. The other thing odd about it was when he told Becky he would be available to her & CNBC after leaving BRK board, to chat even off-the record. 

Yea probably could be chalked up to his surprise by the news and sadness about himself stepping aside. He mentioned having 2 of the most incredible mentors for the past 50+ years and now it’s all winding down for them.  It’s sad. Three total studs. 
 

I was pretty sad to hear Warren announce his retirement. What an incredible run and what an honorable  way to hand the reigns to the new jockey.

[Munger_Disciple]

13 minutes ago, Buckeye said:

Yea probably could be chalked up to his surprise by the news and sadness about himself stepping aside. He mentioned having 2 of the most incredible mentors for the past 50+ years and now it’s all winding down for them.  It’s sad. Three total studs. 
 

I was pretty sad to hear Warren announce his retirement. What an incredible run and what an honorable  way to hand the reigns to the new jockey.

 

Yeah! Warren is putting BRK shareholders & the company ahead of his own interest I think in handing over the baton to Greg. I feel a deep sense of gratitude to Warren & Charlie. End of an era for sure. 

[WFF]

2 hours ago, ValueMaven said:

Was there any mention of Ted and Todd?  I didnt catch the whole meeting ... 

 

There was mentions of Todd with respect to GEICO and the work he did there to now be on par with its competitors 

[Dalal.Holdings]

Salute to the GOAT...

 

Up 5,502,284% over his term--and that's not including this year (his final year).

 

He announced his retirement the right way...total secrecy (even from Greg which is amusing) until he revealed it to everyone all at once on a Saturday afternoon. No opportunity for insiders to trade around it.

[John Hjorth]

1 hour ago, Munger_Disciple said:

Did anyone watch the CNBC interview with Ron Olson just after the meeting ended? He seemed kind of sad about leaving Berkshire board. 

 

1 hour ago, Buckeye said:

I saw that and thought the same thing. He also seemed a little shocked after having just learned of the news on his way over to the interview.  I thought he gave a great interview after just hearing the news.  He mentioned that he met Charlie in 1967 and Warren in 1969 and the three of them have been friends/partners for life.  What a trio.  It was a little sad and sweet.  

 

1 hour ago, Munger_Disciple said:

Yeah, I also thought Ron's comment about Greg needing a sounding board a bit strange. Warren is still there & Greg can discuss things with Ajit as well. The other thing odd about it was when he told Becky he would be available to her & CNBC after leaving BRK board, to chat even off-the record. 

 

Thanks  @Munger_Disciple and @Buckeye,

 

This interview with Ron Olson at the Berkshire shareholders meeting has totally skipped my attention during the day. I will be thankful for any guidance to it. Was it an interview performed by Becky Quick? - Thank you in advance.

Edited May 4, 2025 by John Hjorth

[John Hjorth]

1 minute ago, Dalal.Holdings said:

Salute to the GOAT...

 

... 

 

... He announced his retirement the right way...total secrecy (even from Greg which is amusing) until he revealed it to everyone all at once on a Saturday afternoon. No opportunity for insiders to trade around it.

 

You are just so right here, @Dalal.Holdings.

[WFF]

4 minutes ago, John Hjorth said:

 

 

 

Thanks  @Munger_Disciple and @Buckeye,

 

This interview with Ron Olson at the Berkshire shareholders meting has totally skipped my attention during the day. I will be thankful for any guidance to it. Was it an interview performed by Becky Quick? - Thank you in advance.

Yes, it was the first interview after afternoon session.  

[Munger_Disciple]

4 minutes ago, John Hjorth said:

 

 

 

Thanks  @Munger_Disciple and @Buckeye,

 

This interview with Ron Olson at the Berkshire shareholders meting has totally skipped my attention during the day. I will be thankful for any guidance to it. Was it an interview performed by Becky Quick? - Thank you in advance.

 

Yes Becky & Mike Santoli interviewed Ron Olson after the meeting ended. You can watch it here starting from the 5:47:00 mark: 

 

[sleepydragon]

2 hours ago, Munger_Disciple said:

Did anyone watch the CNBC interview with Ron Olson just after the meeting ended? He seemed kind of sad about leaving Berkshire board. 

He’s truely surprised Buffett is retiring too. 

I think he was initially bitter being asked to leave, but now feels much better after realizing it was not about him — Buffett had this plan that Buffett himself is also giving the control to the next generation. Buffett is fair to him.

[John Hjorth]

Thank you for the lead, @Munger_Disciple,

 

Personally, I'm actually a bit shaken by listening to the interview with Ron Olson.

 

There is no doubt his leave from the Berkshire board of directors was not in accordance with what he him self wanted.

 

I still remember my internal reaction reading @gfps post about changes to Berkshire board governance , where it was stated that all Berkshire board members are evaluated on equal terms, except with regard to age, where some board members now are more equal than others, age gradually becomes disqualifying, by setting maximas.

 

Bad taste party, if you ask me.

Edited May 4, 2025 by John Hjorth

[Gamecock-YT]

35 minutes ago, John Hjorth said:

Thank you for the lead, @Munger_Disciple,

 

Personally, I'm actually a bit shaken by listening to the interview with Ron Olson.

 

There is no doubt his leave from the Berkshire board of directors was not in accordance with what he him self wanted.

 

I still remember my internal reaction reading @gfps post about changes to Berkshire board governance , where it was stated that all Berkshire board members are evaluated on equal terms, except with regard to age, where some board members now are more equal than others, age gradually becomes disqualifying, by setting maximas.

 

Bad taste party, if you ask me.

 

 

 

8 hours ago, John Hjorth said:

 

 

If you think carefully about it, it needs to be so. Get used it, and live with it.

 

 

[Xerxes]

5 hours ago, ValueMaven said:

Anyone have any thoughts on what this $10 business Berkshire almost bought?  I have a thought ...

MGM 

 

 

 

[sleepydragon]

I think i read somewhere that Olson’s law firm is involved with some sort of campaigns/protest against Trump. This could potentially bring trouble to berkshire..

[sleepydragon]

1 minute ago, sleepydragon said:

I think i read somewhere that Olson’s law firm is involved with some sort of campaigns/protest against Trump. This could potentially bring trouble to berkshire..

“The brief was authored by Donald Verrilli, a partner at the law firm Munger Toles and Olson and a former solicitor general of the United States”

https://bhr.stern.nyu.edu/quick-take/over-500-law-firms-challenge-trumps-attack-on-the-rule-of-law-but-where-are-the-major-firms/

 

[Charlie]

Transcript of the annual meeting:

 

https://steadycompounding.com/transcript/brk-2025/

 

 

Cheers!

[SafetyinNumbers]

11 hours ago, Dalal.Holdings said:

Salute to the GOAT...

 

Up 5,502,284% over his term--and that's not including this year (his final year).

 

He announced his retirement the right way...total secrecy (even from Greg which is amusing) until he revealed it to everyone all at once on a Saturday afternoon. No opportunity for insiders to trade around it.

What’s the trade?

[Dalal.Holdings]

46 minutes ago, SafetyinNumbers said:

What’s the trade?

You’ll see tomorrow morning.

[SafetyinNumbers]

45 minutes ago, Dalal.Holdings said:

You’ll see tomorrow morning.

The insider information is only valuable if one knows the trade. I was just curious if there was consensus on that. If there is selling, what could be some of the beneficiaries? What’s the right multiple for BRK i.e. when is it a buy again?

[Onefoothurdles]

From a friend who attended the meeting:

"After the long standing ovation he received after announcing his exit as CEO, Buffett said:

 

"The enthusiasm show by that response can be interpreted in two ways, but I'll take it" "

 

[Libs]

43 minutes ago, Onefoothurdles said:

From a friend who attended the meeting:

"After the long standing ovation he received after announcing his exit as CEO, Buffett said:

 

"The enthusiasm show by that response can be interpreted in two ways, but I'll take it" "

 

Oh that is just so perfect.

[John Hjorth]

18 minutes ago, Libs said:

Oh that is just so perfect.

 

Please watch from the 4:21:57 mark - he grabs a question from station five about what he prefers to be - an investor or an operator, and then suddenly he gives it a twist and starts pulling it off, and ending the Q&A session just after - Game, set & match - *poof*!

 

 

 

[Masterofnone]

12 hours ago, SafetyinNumbers said:

The insider information is only valuable if one knows the trade. I was just curious if there was consensus on that. If there is selling, what could be some of the beneficiaries? What’s the right multiple for BRK i.e. when is it a buy again?

I'd start buying below $450. I'm not sure who has been buying above $530 and what their pitch might be as to why to do so.  A year ago it was trading at $404, and two years ago at $315. It is a wonderful business, but one of these prices might be overly optimistic.