Berkshire Hathaway Annual Meeting 1995 Part 2 Afternoon Session
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Warren Buffett and Charlie Munger take shareholder questions at the 1995 Berkshire Hathaway annual meeting, covering intrinsic value, capital allocation, and the circle of competence that keeps them out of businesses they can't understand. They explain why cash on the balance sheet is an admission of failure, why Graham and Fisher differ less than people assume, and what made Wells Fargo worth owning when every bank with that much real estate exposure looked doomed. Along the way they cover Salomon pay, Lloyd's of London, the national debt, the USAir mistake, and why Berkshire…
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