Warren Buffett’s Still Got It

I attended last weekend’s 2019 Berkshire Hathaway Annual Shareholder meeting. During the well-known portion of the day when Charlie Munger and Warren Buffett field questions from shareholders, I was disheartened by the sheer number of questions that not so subtly asked Munger and Buffett about their deaths (questions they’ve been receiving for three decades now, or over half of a typical American’s working career), the underperformance of some particular Berkshire subsidiary against a competitor, and complaints about Berkshire Hathaway’s $110 billion cash hoard.

You would swear that Berkshire’s cash pile is burning a hole in some of these shareholder’s pockets.

What Buffett has made clear throughout his management of Berkshire Hathaway is that he does not care about Berkshire’s outperformance against the S&P 500 Index over a particular period, but rather, that he grows Berkshire’s “intrinsic value” at the highest rate possible and hopefully this will exceed the performance of … Read the rest of this article!

A Great Reader E-Mail About Coca-Cola Investing

One thing I have strong mixed emotions about is my terrible track record of responding to reader e-mails. At my current rate, I’m only responding back to about one out of every fifteen or so that spend some of their precious time to contact me. It is the way it is because I made the value judgment that I’d rather spend most of my days acting—that is, setting out specific things I want to accomplish and then putting in the work to make them happen—rather than reacting, which you can easily found yourself doing if you interact on Facebook, e-mail, and Twitter for good chunks of time. The reason I feel bad, though, is because I should respect the time of anyone who spent time crafting a chat with me, because I’m grateful for the generosity of others who did it for me, and well, it’s the right thing … Read the rest of this article!