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The highest prices are in California and a big companies in silicon valley California Microsoft Yahoo! and the woman who used to run Microsoft sue Decker who got -- on the board I've got another record commodity and and -- -- Former CEO of Yahoo! and now -- member of Berkshire Hathaway welcome thanks for -- Coming along as quickly your thoughts on on the David Sokol issue of course you read that press release to did you express any concern when you first saw that -- You know I think that this thing that.
People have to remember about about Warren and Berkshire and the way it's run is that he has a high value and putting out all the information known at the time as he does.
And I think it's fair to say that.
After the audit committee of Britain did its report if you were to write that press release today it would probably be a little different -- content and -- tone based on what was learned but at the time.
He put out what what the facts were at the time.
And we did that too with an audit committee report I've -- served on a number of words I've never seen an internal audit committee report put out like that.
I think that's served investors well to have an -- they may see you making -- the sausage a little bit but at the end of the day.
You're you're seeing what the company knows as it knows it and in hindsight is the -- was made that should have been a little bit different but at the time that's what we use it on the boards -- -- of -- and Costco yes.
Charlie is on Costco yes he gets it -- so great prep pleasure to see how fast bus -- aren't.
You get away and more on -- there on -- on prospective purchases and with Berkshire.
You know I think that the boards -- -- the goal of the board is the same no matter what public companies serve on which is the board level.
Succession this user are are big issues that we think about on on -- boards.
Acquisitions helped capitalist user are issues that we think about.
And in this particular case you know Warren has such an amazing track record and allocating capital is one of the core.
Competitive advantages of Berkshire talked about the conglomerate.
Nature of Berkshire earlier we'll have a huge -- -- is is it got a very centralized swells a decentralized company very centralized approach.
With the world's expert and how -- capital so we ask questions but wait we have a lot of confidence Charlie you made a quote about people who sit on a lot of -- not sure you meant two or three but.
What do you think of people almost make it -- profession to sit on ports.
Well I think there's a lot wrong -- boardroom culture.
-- our civilization as it works.
I think still has a very unusual position because of our -- three companies.
-- board membership would really be a privilege.
It would be -- and tell a merger.
Every one of those companies of America -- -- who doesn't get lessons from.
Lesson requests from all kinds of we will follow it up awards like that.
You know built sitting over here about the Microsoft -- -- and I think that's harder duty.
Why it's I think their problems are -- Well one of the problems in the past involved both of you or at least the company you used Raanan.
-- do you think and and in hindsight Yahoo! should have teamed up with Microsoft wanted to have -- chance in a bigger way than it did.
Yeah yeah absolutely I think it was a mistake to not.
This that the merger was not affected was a mistake for -- shows the survivors bill.
Got to -- Companies are doing a lot together.
You know Google's a very tough competitor and so combining there's some -- Yahoo! and Microsoft clearly made sense.
But that was done through -- merger through big key business deal which is where it ended up.
That partnership -- chance of competing with Google and making sure they they don't get too lazy.
As we finish up here because obviously this has been an incredibly busy day and weekend for you look in the business.
We want to leave our viewers with something from which they can learn -- and an idea from all of you about a book that you -- and and different from last year you can't blame the same ones from last year but.
The book that you regret now that you wish everybody Brazil.
There's a book about.
Improving for countries.
Called getting better by Charles Kenny which is not that long but it's fantastic way of looking at.
What's happened over the last fifty years of really taking the debate about -- is totally good aid is totally -- in really explaining.
Why it's worked in some cases and how we can be Smart about it.
-- Yeah I don't know I would pick one book but I would pick the same topic it's I thought had a little more time in the last couple of years I've been spending time visiting a number of places that serve on the board of save the children.
Where you know what what kinds of investments make the most sense in countries and where you can actually have an exit strategy so that the country can take on the bad investment on its its own in itself.
-- over time as an interesting topic that I'm learning about.
Well I actually read -- book that book in the plex.
A vote Google even though I'm like war.
I don't think we're -- going there that's not good.
But it was a very -- book.
Really interest me why and what I think -- an exceptionally good reporter becomes -- your progression and he's been out of a long time.
He -- job and I found it very.
Very interest in the -- okay warrant.
Well you know -- kind of answer I would say that the most -- thing I've read.
In the last year to 69 pledged letters that have come into the giving pledge and I think.
They're close to the giving -- dot org and I think the over.
69 great human stories about.
How people of come to the views they.
They have about philanthropy and what they -- this country and what we're doing about it I would recommend reading -- your all of different ages you're thinking about legacy -- many different ways Charlie.
What do you want to be remembered for.
Well I would share warrants that let you hear -- for extreme old age.
-- we would we would both like the Forbes 400 to be the 400 oldest people ever for both of us to be on the list.
But that means -- good shape yeah vertically have a young -- over the -- and -- Also -- of the -- to.
But you spoke this weekend about leaving fortunes.
Leaving Ford's fortunes meaning you said a fortune.
Oh yeah well.
The ideal life is.
Is of -- a fortune.
Or rather for.
I'll sleep gain them fairly used.
Yeah I think that's a -- global -- -- -- to screw.
Look at the prospects of this country -- get your final thoughts all of you on this.
The USA has been through some very tough times.
And there is viciousness of vitriol coming out of Washington DC is it easy for you to step out of this and say we're going to be okay.
-- absolutely innovation.
Is on the march.
You know whether it's.
Attack robots -- send new materials.
And wearing a lot of great tools to solve problems even the problems that the poorest in the world.
Yeah I would agree I think that there's.
The others have well articulated some of the great strengths that the system that we live and that does the fact that we may have a period -- have to slowdown a little bit as the foot comes off the accelerator on fiscal and monetary policy think -- talked about that.
And that's that's inevitable we have to get our finances in order -- that may slow things down a little bit for a time but we have this inexorable force of capitalism beneath us that's propelling -- -- we've poured a lot of money into it you even sent.
John Maynard Keynes would be proud of us but I don't think he meant that the best way he of course the British economist who loved.
Government money propping up a society.
The -- -- person in the world was a healthy baby being born in the United States today.
He -- she world live so much better in so many ways.
Years from now than we live about just that we live better than Johnny Rutherford or lived in a long time ago it.
And this is does this country's potential was not been.
Fully utilized or anything close to.
Charlie when you wake up every morning but do you still feel that.
Charlie Munger I'm gonna find companies to buy no matter what the atmosphere hit here isn't he had stayed better.
I find -- -- a -- -- -- -- And I find -- they're plenty of things.
That I can learn those that don't know.
Now and I probably -- that hugely enjoyable.
-- -- -- -- I want to thank all of you I know you have a board meeting to attend Warren Buffett and Charlie Munger Susan Decker Bill Gates it's an honor to have the richest minds here.
With us on Fox Business thank you so much thank you that you.
And that's it here from Omaha Nebraska -- claim.
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