"Mr Buffett was also asked about his decision to invest in De Beers Centenary, the South African company that is the world's largest diamond producer. Mr Buffett said: "I probably got my first annual report from De Beers in 1952 or 1953. So I've got 40-some years of their reports and we haven't bought any, but we went 30 years between silver purchases too."
I appreciate all of the comments on the meeting and the newspaper links. I am confused however. Did Buffett buy Debeers or not? The article says that he has but the quote indicates that he has not.
I have owned Debeers in the past, as long as 17 or 18 years ago. It has a substantial store of value ( for instance, its diamond inventory is carried at LIFO and has been for as long as I have been familiar with the company). I worry about the ability to maintain its position in the diamond market much more than I am concerned with than the political situation in South Africa. I don't know much about Debeers because they quit sending annual reports into the US. I write and ask for one. They write back and say no. ( I am not a Debeers shareholder now ). So any clarification on this would be much appreciated.
I am at a loss to the reason for not providing transcripts of the meeting however.