2007 Berkshire Hathaway Shareholder Meeting

When the partnership was dissolved, Buffett distributed shares of a textile company, Berkshire Hathaway, Inc. As far as economics went, the enterprise was a disaster; earning almost no profit on the millions of dollars it had invested in looms, factories, etc. However, Warren began diverting the capital from operations, essentially bleeding the business dry and redeploying funds in more profitable fields such as banking and insurance. And, thus, he continued up until the present day, generating 22% compounded annual growth, turning a $7 per share stock into a $110,000 per share (yes, you read that right) behemoth with the largest net worth of any company in the world. Now a holding company, Berkshire Hathaway owns over 65 businesses, including GEICO, Dairy Queen, Benjamin Moore, Fruit of the Loom, The Pampered Chef, See’s Candies, as well as huge equity stakes in famous corporations such as American Express, Coca-Cola, Procter & Gamble, U.S. Bancorp, Wells Fargo & Company, Wal-Mart, The Washington Post, and White Mountains Insurance. Along the way, he partnered with Charlie Munger, himself one of the greatest investors in history, who serves as Vice Chairman. The two men, combined, own over $50 billion worth of the stock.

• 2007 Berkshire Hathaway Shareholder Meeting
• Background on the Berkshire Hathaway Story
• The Borsheims Cocktail Reception
• The Insurance Industry
• Private Equity
• Credit Crunch
• Advice for Young Investors
• Its Not a Time to Swing for the Fences - Charlie Munger
• Succession at Berkshire Hathaway
• Inflation and Other Words of Wisdom from Warren Buffett and Charlie Munger