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AM 2000 Berkshire Hathaway Annual Meeting With Warren Buffett, Charlie Munger – Full Q&A

Full morning Q&A session from the 2000 Berkshire Hathaway Annual Meeting with the world’s richest man and most successful investor, Warren Buffett and his partner, Charlie Munger.

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2000 Berkshire Hathaway Annual Meeting

AM 2000 Berkshire Hathaway Annual Meeting With Warren Buffett, Charlie Munger - Full Q&A

Transcript

Good morning. Well first thing I'd like to do is to thank everybody that's helped us put this on. And you saw the movie I think at the time we may have had 45000 or so people working with Berkshire with twelve point eight at headquarters. We're probably up to about 60000 now and we still have twelve point eight and they take care of putting on this whole meeting we get help from people in the internal audit and we get terrific help from the people that all of our companies who who work very hard to put on the exhibits and we hope that you not only visit them but patronize them and will give you ample time to do that. As you can see I enlisted my family for the the movie and I want to thank them. I want to particularly thank you Kelly much more. And Mark Hamburgh for their work in putting this on it's a real project. A lot of companies have a whole department that does this and at Berkshire with the calling processes 25000 requests for tickets and coordinates everything with exhibitors and that's a fabulous job. Now we'll follow our usual routine. We do have a surprise that a small surprise that 11 forty five. It's not that Charlie's going to say anything that would be a big surprise but. Well well we'll have this small surprised we're 11 45. The plan is to go through the business part of the meeting here in just a second and we'll run from 9 30 to 12. Then after conducting the business meeting well we'll take your questions. We'll go around the room.

We have 10 stations. I guess we'll probably only be using eight stations in this room and we have microphones every place that that the stations will see and you can step up to those and we'll just keep answering questions and we'll break at 12:00 and that will be food available down below where you can also purchase things from us and we'll reconvene about 12 45 and then we'll stay until 330 and we'll try and answer whatever questions you have and then we will have to cut it off at 330. We have we had about the same number of ticket requests as in the past we had a different mix this year we as most of you know we had to change the venue in the time because Charbon is winding down. And so there's a little different rhythm to this meeting a much higher percentage of our tickets than usual were requested by people from Omaha and of course you've heard me say before that we're a little suspicious of these figures because we know that a lot of people claimed to be from Omaha that aren't for status reasons and so we can't really give you the geographical breakdown we normally would. I'd like to introduce first our directors and then we'll proceed into the formal business of the meeting. On my left here is the ever animated Charlie Munger our vice chairman and and if the other directors will stand up as I announce their names will you have the better voice in the in the movie. My wife Susan Buffett. So the way I Howard Buffett you can say we find these names in the phone book.

I mean they can chase him Walter Scott the star of How To Be A Millionaire. And Ron Olson Ron OK well now take on the formal part of the meeting and set a new record I think five minutes thirty eight point four but we're the four minute miles always been our ambitious.