This year's annual meeting for Berkshire Hathaway shareholders is over and done. Businessweek reports on this year's wisdom from the Oracle of Omaha. I liked this piece of advice that, despite being obvious, is often ignored by investors today:
To Buffett, management is everything. He simply won't buy a business or a stock if he doesn't have faith in the executive suite. Indeed, in terms of investment criteria, a strong management team carries a lot of weight. "At headquarters, we're not training managers, we're finding them," explains Munger, who adds that it's pretty easy to identify talent. "If you're standing on Everest, you don't have to be a genius to recognize it's a high mountain."
If you actually went to this and blogged about it, please send me a link to the post as I'm always interested in what Buffett and Munger have to say.
The Iscar purchase is interesting. This is a company that makes cutters for machine tools, which many people would no doubt consider a boring business (play on words there)
Thanks for the notice, I forgot they were meeting. The tidbits from Buffet are always good to keep in the back of your mind.
the meeting was a good oppurtunity for shareholders and investors. skills and efficiency are two important aspects of a good management according to buffett. management needs to be strong enough in terms of investment decisions. the meeting was really helpful to investors in terms of information and decision making.