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AM 2005 Berkshire Hathaway Annual Meeting With Warren Buffett, Charlie Munger – Full Q&A

Full Q&A morning session from the 2005 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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AM 2005 Berkshire Hathaway Annual Meeting

AM 2005 Berkshire Hathaway Annual Meeting With Warren Buffett, Charlie Munger - Full Q&A

Transcript

Morning I mourn he's Charlie. We work together. We really don't have any choice because he can hear and I can see. I want to first thank a few people that cartoon was done by Andy Heyward who done Dunnam now for a number of years and he writes some. He goes around the country and gets voices in. It's a labor of love. We don't pay him a dime. He comes up with the ideas every year. He was just a terrific guy. He's unable to be here today because his daughter is having a bar mitzvah. But he's a very very creative fellow. He did something a few years ago called Liberty's Kids. And if you have a child or a grandchild that wants to learn American history around the time of the revolution it's a magnificent series. I think it's maybe as many as 40 or so half hour segments and it's appeared on public broadcasting. It will be airing again and you can get it in video form. And like I say it's just a wonderful way to I I've watched a number of segments myself it's a wonderful way to get American history. The only flaw in that is that the part of Ben Franklin is handled by Walter Cronkite and Charlie is thinking of suing a little bit upsetting when Charlie is available. Incidentally we have Poor Charlie's Almanack next door in the exhibition hall an absolutely terrific book that Peter Kaufman has put together. I think it's going to be a seller a huge seller long after most books have been forgotten.

It's surely at his best and Charlie's at his best most of the time. But it's a real gem. I want to thank Kelly much more who puts all of this together. I don't give it a thought. Kelley takes charge of this. She works with over 200 people from our various companies that come in and help make this a success. She does it flawlessly. As I mentioned in the annual report Kelly's getting married in October. So this is just a warm up. I mean we we're expecting a much bigger event than this. How come October. Want to thank my daughter Susan who does millions of things for me. She puts together that movie. She does draw the line occasionally. A few years ago we have an dinner at that garage. The day after the meeting and we were having the whole family was there having dinner. The place was packed and there was a big line that had formed outside. Be sure not to go to Garad unless you have a reservation tomorrow because they're sold out. But the big line had formed and it started raining cats and dogs. And a waitress came to me we were eating waitress said. So I got to tell you she said it's raining like crazy outside. There's a long line and Michael Eisner is standing out there getting soaked. So I turned to Su's Michael and Jane are friends of my good friends. And I said to Susan why don't you go out there and help them out before they get branched and she looked at me and said I waited in line at Disneyland. That seems to strike a responsive chord.

We've flipped things this year we're going to have the business session at at about 315. The plan is to have questions and answers. We have 12 microphones here we have an overflow room that's filled also so we've got another few thousand people there. We'll break at noon and when we break at noon. And anybody that's been in the overflow room that wants to come in here and they'll be I'm sure plenty of seats in the afternoon session.

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