Berkshire is against tobacco ivestment but a board member will strike a deal with a Marijuana company let's hear the explanation behind this. I'm sure money didn't have anything to with this decision we all know smoking Marijuana is good for your health.
Berkshire only vastly out performs the market about 15 years down the road if you look at the charts. At 3 years the market actually outperforms the stock at 5 years Berkshire outperforms by about 2%. But when you get to the 15 plus year time frame Berkshire outperforms the market by 9 or 10%. By the market I'm talking about index funds. To make big money you have to hold it at least 15 years and you are better off keeping it longer than that. That being said the company is not growing like it use to. Operating profits were down 12% from last year. They have spent a lot of money on acquisitions with kraft heinz and precision castparts which probably has something to do with it to. I can say without a doubt that most of the managers are not nearly what they were 5 to 6 years ago.
Sure there was 40,000 people at the meeting and they made a profit, but last year there was 50,000 and operating profits were 12% higher. Not to mention a user brk_a on a auction website who said he was a representative of the company sold 1,600 of the 40,000 passes on a auction website for $5.00. So to say it is a shareholder meeting is a little more misleading information put out by the company not everyone in attendance was a shareholder.