Berkshire 2015 Annual Shareholders Meeting Q&A Notes

[kuberan]

I am sure a more detailed version will come out at some point, but for until then.....

BRK50_2015_Annual_Meeting_Notes.pdf

[coc]

Thanks so much kuberan.

[futile]

Thanks for your notes. ;)

 

The first question that was sent to Carol Loomis is here:

 

"I've been a shareholder for 15 years but am now suffering heartburn.  Until recently I considered Berkshire an ethical company benefiting society through BNSF, Acme Brick etc.

Two changes call this into question.  One is the Seattle Times story on predatory practices at our Clayton Homes.  Clayton mainly responded with platitudes and would not answer questions--so I have to assume facts in the story are correct.

The other change is our growing partnership with Jorge Paulo Lemann's 3G Capital.  I sold my Tim Hortons stock in disgust before 3G gutted 20% of the corporate staff, and plunged this well-run company deep into junk territory.  Other takeovers by 3G have been far more brutal. 

You and Charlie have made many statements about upholding Berkshire's reputation, and avoiding anti-social investments like tobacco and gambling.  Your efforts years ago to keep Berkshire's textile mills running show you once aspired to balance capitalism with compassion.

I cannot make a moral case for practices at either Clayton or 3G...and wonder how you can do so."

 

http://www.rt66pix.com/blog

 

[ATLValue]

thanks

[wescobrk]

Thanks, Kuberan!

This was the first time in 13 years I couldn't make the meeting.

[Charlie]

http://www.gurufocus.com/news/334682/detailed-notes-from-berkshire-shareholder-meeting-2015--part-i

 

http://www.gurufocus.com/news/334684/detailed-notes-from-berkshire-shareholder-meeting-2015--part-ii

 

 

Cheers!  :)

[cubsfan]

Thank you very much for the notes Kuberan. Very nicely done.

 

Really enjoyed the annual meeting this year.

[kuberan]

Thanks and hope you all found the notes useful....I really enjoyed the meeting as well.

[Guest longinvestor]

Kuberan, Really good notes. Thanks for your effort and sharing.

 

The meeting was great, thought CM was rather chatty this time. That alone adds so much to the proceedings.

 

Only irritant for me was the number of repeat question surrounding the headline grabbers like Clayton Homes, 3G etc. And most of these were from the journalists, they kept piling on and on to the same questions. Understand one or two but that had the effect of running the clock on the meeting.

 

Far fewer questions around what WEB/CM wrote about the next 50 years, this being the first time that has been done. These are the important questions that should not go without being asked. Simply gets down to the motivation behind the questions and who's asking them. As a shareholder intending to hold for the long term, this means everything. As a journalist?