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It's time to go to Omaha Nebraska here is list I'm aware that Warren Buffett -- is -- chills.
Thank you so much Stuart you know what this is the sixth year that Warren Buffett sat down -- In his lobby here -- -- plaza in Omaha Nebraska to do this long form interview with Fox Business.
And we welcome you once again Warren just after your shareholder we -- thank you for being here I'm delighted -- well.
One thing we are doing differently we want to let our viewers know is that you were always supportive of business schools of what we've decided to do with not only -- in our international audience -- we've got people in Australia watching right now everywhere all over the nation.
But we half looped in via satellite three different top business schools so that they -- listen and and listen to what you're saying but also asking questions we want to welcome some of the business schools around the nation let's get a shot up to Georgetown McDonough school of business first.
Good to see you guys puppets waving GO everybody's already.
They're very excited.
And you're all -- moderate Columbia Business School is right there in New York city's candidate five.
Yeah they're very excited to see here because it's gonna -- and then short and that we've got to wait for a -- Charlotte, North Carolina hello to -- for thanks for getting up early with a ball and you guys.
We really appreciate it and the so they're going to be listening because we another that they.
Young people coming out of business schools always have an interest in sort of perspective of what's happening but let's first get to your meeting -- love to always -- this is your first question number one that.
Your stock let's take a look at Berkshire Hathaway stock right now once again the market just opened a few minutes ago it is trading.
All time high last jackets up about two and a half percent for the EA shares.
And -- just hearing -- that yup the B shares are also hitting an all time high what do you think about that.
About to have a -- the news that we we we are having a pretty good year so far.
We reported earnings after the close on Friday so this is probably.
Action that let me get you to report some numbers from this weekend number one was at a record breaking number of shareholders attend and we certainly think so you never can get a.
An accurate count because people come and go but all indications from the overflow room for the business we did everything.
I'm I'm quite sure we had a record.
Up all the businesses because -- the only.
Company's CEO you're the only company that actually makes money -- -- but we -- because you sell all the whereas if you're seventy plus companies.
Which company's sales surprised you the most this weekend well I got all the figures in yet.
But it looks to me for example that are like -- furniture store in one week is going to do forty million dollars and the data view but her rug and furniture stores forty million dollars in a week is extraordinary we did eight point three million -- Saturday but.
But all of our business we sold more Geico policies which we sold more -- everything.
And that's the Nebraska furniture -- just an -- different from other people now under way and and -- policies you said you believe -- -- to a million policies this year I'm sure hoping -- -- and as it -- that's a million gain and policies and only got a base of eleven million for so.
I think we'll grab a lot of market share this is.
So fair to say business is pretty good -- looks that way but -- I I reach back to 1957.
When you were knocking on doors of friends and family asking people to give you money to start your partnership.
Did you ever match and that Berkshire Hathaway -- announces this weekend would be the fifth largest business in the United States behind ExxonMobil apple Google Microsoft.
-- it's at -- we just kept putting one foot in front of the other.
-- and to get -- long enough.
And I would just -- compound but -- I did not -- speaking of confounding that the Omaha world herald which you know -- don't actually did some some math than they were saying that to listen to this guy's 20000.
Dollars invested in 1969.
In Berkshire Hathaway and Warren Buffett would equal 75.
-- about right.
Are you thought it was yeah how -- how many dollars 20008000.
Dollars -- -- 500 shares of the stock you know it's also about the about it.
They also pointed out people whom you asked to invest and they didn't back -- When you work with requesting people to take a chance on my list as the little guy.
Did you get disappointed scared worried when people -- know how many people turned you down hole more.
People did not I didn't really go -- quite door to door but I I a lot of noise over the business but.
Why -- people would would have to redouble I don't blame them I mean I was I was twice fighters -- I've probably behave like about an eighteen year old.
So it's not surprising.
But it some people -- have faith.
And some of those people are still around I saw him a warm individual restorers one that would be more than fifty years ago.
Company shares to she bought back then and they she's she's done all right just -- just might have bought a lot of your yesterday.
Let's get to the shareholder meeting -- again what strikes me is that this is something no other company does aside from the fact that you take five and a half hours of questions you traversed the floor.
This is the first year I actually felt a little claustrophobic OK -- what -- -- in the media crush on the floor.
As you walk along and you're hitting all of your businesses.
-- People are trying to snap cell phone pictures of you was cold so the open the floor a little bit earlier your securities there.
Do you ever get concerned -- nervous and those crowds all.
It's fun for me I love the -- shareholders and -- -- -- I mean it is it's it's very enjoyable wall of all the things you've always plays the ukulele you've you've written on a -- but this year.
You did something a little different than I don't know people -- -- so we really wanted to show them you twirled the basketball with the Harlem Globetrotters named Frankie -- -- got a little help out and he helped me a little bit there.
Look at that.
Did you ever play ball up high school well I did very poorly but the globetrotters -- and talk about a month the doormat I had a good time with a they got one follows seven foot -- called tiny.
Got that would -- what would your name -- I'm not -- pack up and probably terrible for the well I -- look at that as it were you ever Napoli no no no we're not about always liked sports but I would never -- You have strength and other things.
Let's get to the seriousness of what you do at the shareholder meeting and you took about.
Five and a half hours of shareholder questions and -- and this time he did something different as well -- by the short seller Doug Kass of sea breeze partners.
I was talking to some shareholders afterward I know the intention was to have him -- some tough questions.
They felt his questions were little convoluted.
And that you would Charlie kind of ran circles around him what did you think of -- questions.
Well he was he was there to represent the short interest and and and I'm a little prejudiced but I obviously shortages have much of the case actually still have to hit a difficult assignment -- Add you know here is -- 3738000.
People that are longer stock so what we're part of a difficult situation.
-- -- -- -- -- It it would be easy form but by The Who have invited and he was an inviting will you have another short seller next year I think so what what weight do a playback we get out there and we always we always got a lot of reaction from shareholders and they tell us what -- Like changeable see what we do and -- literally Doug -- I don't moment.
Had -- the fact that you didn't say yes disinterested me certainly.
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