Sage of Omaha

By Matthew Gutierrez · May 05, 2024

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Happy Cinco de Mayo!

Today, we'll get right to it: Let’s discuss everything you need to know from Warren Buffett’s Berkshire Hathaway Annual Shareholders Meeting. Buffett always delivers a wealth of knowledge and wisdom.

All this, and more, in just 5 minutes to read.

— Matthew

Quote of the Day

"There comes a time when you ought to start doing what you want. Take a job that you love. You will jump out of bed in the morning.

I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume.”

— Warren Buffett

Recommended Reading: Carbon Finance

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What Else We’re Into

?? WATCH: Howard Marks: You shouldn’t pay much attention to macro

?? LISTEN: How to beat the market with Bryan Lawrence

?? READ: Buffett built Berkshire. What happens when he’s gone?

Trivia

Warren Buffett loves reading. About what percentage of his day does he spend reading?

• 30%
• 50%
• 80%
• 90%

Sage of Omaha: Lessons from the Oracle

Buffett’s world

If you had invested $1,000 in the S&P 500 in 1965 when Warren Buffett started at Berkshire Hathaway, you would have about $300,000 today.?

If you had bought Berkshire instead, you’d have more than $42.5 million.

That’s one reason tens of thousands of investors flock to Omaha every spring for the Berkshire Hathaway Annual Shareholders Meeting: Buffett’s performance has been remarkable.?

But Buffett also has a special way with words, an ability to distill complex financial concepts into simple yet profound, insights. His folksy wisdom and unwavering principles have endeared him to millions of investors worldwide.?

In Buffett's world, success is measured not just by financial wealth but also by the integrity of one's character and the impact on others. His legacy extends far beyond the realm of finance. As he ended the meeting Saturday, he received a standing ovation from the crowd.?

"I not only hope that you come next year, but I hope I come next year," he said, laughing.?

Here are a few key takeaways from Buffett’s latest shareholder meeting, during which he addressed over 30 questions in about five hours.

Fat pitch

Buffett maintains a fairly cautious stance, with a record $189 billion in cash and cash equivalents. He emphasized the importance of patience, stating, “We only swing at pitches we like… today things aren’t attractive.”

Berkshire reported a rise in operating earnings to $11.2 billion in the first quarter. Despite lower...