Showing posts from May, 2013

Munger and Buffett: Wise Words with Peanut Brittle

The first weekend of May just passed. That means I was in Omaha to attend  Berkshire Hathaway's  annual shareholder meeting along with 35.000 other people including  Bill Gates  and  George Lucas . The meeting always begins with two or three new humorous short films starring Charlie Munger and Warren Buffett, Vice-Chairman and Chairman of Berkshire Hathaway respectively. There is the same  serious short film  every year as well; Warren Buffett's 1991 testimony to the congressional committee on the  Salomon Brothers  scandal. The film has a famous line from Buffett," Lose money for the firm and I will be understanding. Lose a shred of reputation and I will be ruthless." I wish more firms followed this philosophy. See my summary of the 2012 meeting here .   Buffett and Munger on the stage. See the peanut brittle?      Both Munger and Buffett are my heroes. I like Munger more for his multi-disciplinary thinking. The meeting is inspirational every