2:10:13 “Charlie has pointed out to me that the dollar of 1930, when I was born, is worth 6 cents now. 16 to 1 in terms of depreciation as he points out and we’ve done pretty well.”
3:44:58 Question regarding Lubrizol's sale to BRK. The questioner asks if it was in the shareholders best interest if Lubrizol didn't marker the company for sale or run an auction.
Charlie jumps in to answer the question instead of Warren.
1:00:25 Warren is asked if he'd be able to live another 50 years and could add one additional sector or asset class to his circle of competence, which sector would it be and why?
3:45:10 Question regarding BRKs purchase of Lubrizol without allowing them to do an auction. Did the board of Lubrizol breach it's fiduciary duty by not running a more competitive process to sell the company.
31:25 inexplicable irrational behavior can come as a surprise even from a seemingly able person. 1:19:36 many hardships and catastrophes may lay ahead but the standard of living could still grow pretty well. You can scream the hell is coming but “the world is gonna go on.” Be cheerful even of things are lousy. 1:28:25 worst type of businesses. 1:29:24 Ideal biz. Capital-light + pricing power, no large capex/fixed assets, receivables, inventory. 1:44:42 currency related/denominated investments (generally not adequate return to compensate loss of purchasing power) vs gold (greater fool) vs equity (value based on what an asset will produce over time). 1:55:23 2:00:50 ability to attract money versus managing money. 2:10:17 loss of purchasing power of a currency. 4:18:52 don’t ask a barber whether you need a haircut. 4:28:55 short-term parking place only in treasury bills. No commercial paper, money mkt fund.
1:18:06 Richard Holland asks Warren why he's so optimistic about America's future when it seems to be in shambles and Warren goes on to give an explanation as to why he doesn't see it that way.