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Warren Buffett: This is my ‘absolute favorite thing’ about Berkshire’s annual meeting

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Warren Buffett: This is my ‘absolute favorite thing’ about Berkshire’s annual meeting

Tens of thousands of people head to Berkshire Hathaway’s (BRK-A, BRK-B) annual meeting in Omaha, Nebraska every year to hear what chairman and CEO Warren Buffett and his right-hand man Charlie Munger have to say. The two address questions from the crowd about Berkshire’s performance, future investments, the economy, and just about anything else.

And it's this part of the meeting, the question-and-answer session, that is the Oracle of Omaha’s favorite.  He can't wait to hear the words spoken by the man sitting in the chair right beside him on stage.

“The thing I enjoy most about the meeting is listening to Charlie,” Warren Buffett told Yahoo Finance editor-in-chief Andy Serwer. “I do not know what he's going to say. And he's insightful. He's fast. He's funny. And he can sometimes say, in ten seconds, something that it would take me an hour to get to.”

Charlie Munger, vice chairman of Berkshire Hathaway, is known for his sharp wit, and many times his comments are far more straightforward and unfiltered compared to Buffett's.

Yahoo Finance took a look back at some of Charlie Munger’s most memorable quotes from over the years from Berkshire Hathaway’s annual shareholder meeting:

  • "The interesting thing is how well it [our acquisition strategy/process] has worked over a great many decades and how few people copy it.” Source: Berkshire Hathaway meeting 2005 via Buffett FAQ

  • "We learned about foreign labor competition in our shoe business. It reminds me of Will Rogers, who said he didn’t think man should have to learn easy lessons in such a hard fashion. You should be able to learn not to pee on an electrified fence without actually trying it." Source: Berkshire Hathaway meeting 2007 via Buffett FAQ

  • “It’s hard to think of many activists I want to marry into my family.” Source: Berkshire Hathaway meeting 2015 via New York Times

  • "If you think your IQ is 160 and it’s really 150, you’re a disaster." Source: Berkshire Hathaway meeting 2009 via Buffett FAQ

  • "A foreign correspondent, after talking to me for a while, once said: 'You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?'" Source: Berkshire Hathaway meeting 2006 via Buffett FAQ

 

On April 30, Yahoo Finance will live stream the Berkshire Hathaway Annual Shareholders Meeting exclusively. You can find out more information here.