2008 Berkshire Hathaway weekend

Berkshire Hathway

This years Berkshire Hathaway meeting was really awesome. We had a good friend who got in line at 2am the night before to reserve our seats which were 3rd row on the floor. Bill gates sat about 8 feet in front of us.

I always learn so much from attending this meeting. I could listen to Warren Buffett and Charlie Munger speak forever. They have such wisdom and lessons to teach. I have gone for the last 5 years and every year it has gotten better. I am not sure how much longer Buffett will remain as chairman but I would say business and finance wise there is nothing that has really made me think about things like the annual Berkshire Hathaway stockholders meeting.

I completely am on the same page with him on:

Religion – He is agnostic. A true agnostic. He just does not know and neither do I.

Investing – investing in what you know and understand. Diversification is for the idiot investor – I can’t agree with this more.

The Green Movement – Warren Buffet says whoever thought it was a good idea to burn corn for fuel is a complete idiot. He has said this every year for as long as I can remember. He is totally right. He has always said the only solution to alternative fuels is the sun and the wind. Based on our population growth and consumption its the only answer.

The US Dollar – Buffett has said for a long time the US dollar was over valued and he thinks it will go down before it goes back up. He also stated how amazing our country is that it can be run by complete idiots and yet still be an economic super power.

He commented on the Debt of the Us and it was a amazing answer that I wish I could remember word for word. It basically was saying that the US has always done well borrowing money and unlike other countries we are not savers and that has always worked very well for us.

There was countless things he gave. The q&a lasted about 6 hours. It was completely fascinating.

Here is a picture from my phone: