Watched this years annual meeting start to finish. It was a really interesting Q & A and not because of the news about ESG and the Funds like Blackrock trying to exert influence on Berkshire to address environmental reporting concerns. Although, Munger had some pretty succinct and pithy responses to those questions.
What struck me was how smart both Buffett and Munger are compared to the future leaders of Abel and Jain. One terrific example which struck me was the moderators question on whether BH would insure Elon and Space X trip to Mars. The immediate response from Jain was no- he’d pass. Buffett quickly followed up on Jains misstep by saying... it depends on how much the premium was and whether Musk was on the rocket. <— Just great instincts from a sage value investor- it depends on the price. Turns out, other viewers noticed the same: https://finance.yahoo.com/news/warren-buffett-on-price-versus-value-morning-brief-095654774.html
That’s not to say that I’m not long on Berkshire or in the least bit concerned about the future leadership - I just appreciated the dichotomy between their experience.
View the Annual Meeting in its entirety: https://finance.yahoo.com/brklivestream/