The meeting from "Shareholder 2019" Berkshire Hathaway (WKN: 854075) (WKN: A0YJQ2) took place on Saturday and, as usual, chairman and director Warren Buffett and Vice Chairman Charlie Munger have spent hours on investing issues.
Here are seven topics touched by Buffett, which find Berkshire shareholdings – and investments in the most common – most interesting finds.
1. Buffett about re-notes
Berkshire ran $ 1.7 billion in stocks in the first quarter of 2019, more than in & # 39; The second half of 2018, after changing the repurchase plan to make Republic take over as Buffett and Munger assume the company is dealing with a discount for intensive value.
So while the couples were so much at a reduced pace, that was not the whole thing to buy back the multi-billion dollars that many investors wanted, especially if liquidity taxation ceases (it now stands at $ 114 billion).
Captured about the relatively marvelous level of merchants, Buffett defended the somewhat conservative course. In short, Buffett said the business finances of the company have nothing to do with couples. The cash available "will not make any difference to our stock buying approach," Buffett said.
This means: expect Buffett to be aggressive if the action is cheaper. "If our business is relatively relative to their intensive value, we should not make a profit. We would like to earn $ 100 billion," he said, renaming the recent comments that Berkshire is massive in the end from & # 39;
2nd buffet of socialism
Buffett is not transparent with his political theme – he is a democrat and was a dumb Hillary Clinton supporter in the 2016 presidential elections. With presidential candidates coming before 2020, it is no wonder that Buffett was asked about his thoughts on socialism,
Buffett points out that his notions are his own and not of Berkshire Hathaway, but the rapper denied the concept of pure socialism. "I'm in capitalism," Buffett said. He anticipated that the United States would not become a representative country in the future. But both Buffett and Munger believe that a country as rich as the US should not have strong social security.
3rd Buffet to Kraft Heinz
Power Heinz (WKN: A14TU4) was formerly Berkshire's most valuable common stock, but has not done well over the past few years. For example, since the beginning of 2017, Kraft Heinz has lost more than 60% of its value and its first-fourth results re-counted due to control problems.
Berkshire received his 27 percent in Bynt Heinz in 2015 and the Buffet has just confirmed that Berkshire paid too much for them. "Kraft Heinz is doing well," Buffett said at the annual meeting. However, he turned one of his most importantly invested learning, saying: "You can invest money in a bad company by overpayment."
Later, Munger said that the problems at Kraft Heinz are not very related to product development. "I think the problem was that they paid a lot too much for the last acquisition," Munger said.
4. Is the business model Wayfair unreliable?
Berkshire Hathaway has acknowledged four retail outlets and Buffett that online hosts Wayfair (WKN: A12AKN) would sell at least at the short term. Wayfair and such companies were willing to work at a loss to undergo the local furniture stores.
Buffett is not convinced that these companies have a sustainable model, but added that companies can be very successful. However, he still mentions that the customer-centric nature of furniture stores Berkshire gives a border by supplying the company to learn more about customer behavior.
5. A word of caution in private innmunity
Private fundraising has taken over the past ten years, but Buffett and Munger have been expecting instructors. "We see a number of private money fund exhibits that don't really come back in words that I honestly thought", Buffett said. "I would not be happy about so-called alternative investments."
6. Berkshire to Buffett
In recent years we have heard details about Berkshire success planning. At the CEO level, Berkshire appointed Ajit Jain and Greg Abel as Vice Presidents, a movement that's been confirmed as part of the success plan.
At a meeting Buffett was asked why the two men were not in the stage with him and Munger. Buffett said it was discussed, so it was nothing but the options. And, in a rare case, Buffett asked Jain to answer a question about unusual insurance risk.
7. About the self-management portfolio
Lastly, Buffett is the way in which Berkshire does not often accept shareholder purchases in their own portrait error or why "" Buffett is no longer performing as he bought.
"We're not in a business to explain why we have a stock," Buffett said. In a separate issue of foreign-owned assets, Buffett explained a letter explaining that he is no longer talking about Berkshire: "It's not about publishing business information that is trusted."
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This article was written by Matthew Frankel in English and published on 04.05.2019 at Fool.com. It has been translated that our German readers can join in a discussion.
The Motley Narbe holds and contains parts of Berkshire Hathaway (B shares) and Wayfair.
Motley Fool Germany 2019