I just returned from Warren Buffett’s annual shareholder’s meeting for Berkshire Hathaway. He had many interesting perspectives.
Overall, both Buffett and Charlie Munger, his right-hand man, are optimistic about the American economy and investing. I’ll get into more specifics in a later post, but here are some highlights:
1) newspapers/print media are becoming dinosaurs and neither Buffett nor Munger sees much upside in investing in newspaper stocks. Keep in mind that Berkshire Hathaway has a stake in the Buffalo newspaper as well as the Washington Post.
2) I as disappointed that Buffett did not have much insight to offer about boosting financial literacy of Americans.
3) They remain value investors and still like to keep plenty of cash on hand.
4) There is a specific succession plan in place for Berkshire.