ASSOCIATED PRESSWarren Buffett and Charlie Munger provided many insights when they answered questions for nearly 6 hours this past Saturday during the 2019 Berkshire Hathaway Annual Meeting. Value investing is about estimating and valuing future cash flows, not about how low a Price to Book or a Price to Earnings ratio is for a stock. Buffett’s disclosure that one of his two investing lieutenants bought Amazon’s stock in his portion of Berkshire Hathaway’s portfolio shortly prior to the annual meeting was perhaps the biggest piece of news. Charlie Munger: If I took the 30 biggest transactions out of Berkshire [in the past] 60 years, what would Berkshire be? Note (1): All comments attributed to Warren Buffett and Charlie Munger in this article are my based on my notes and best recollection from listening to the 2019 Berkshire Hathaway Annual Meeting and may not be exact quotes.

Source: Forbes May 06, 2019 02:37 UTC