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Stocks B / Berkshire Hathaway


Subject:  2005 The Warren & Charlie Show Date:  5/7/2006  7:25 PM
Author:  mhirschey Number:  119002 of 225350

I got back last night from the AM and was too bushed to post. I got up at 4:30 am on Saturday so that a bunch of students and I could rush the stage at 7:00 am to get good seats. Either we're slowing down or the crowd is getting faster…

Anyway, here are my top ten takes from the meeting:

1. On an overall basis, I found Warren and Charlie to be upbeat and voluble. Personally, I don't see how Warren can be so patient and considerate with those questioners who incessantly focus on succession issues, and there were a lot of them. I scarcely worry about the imminent prospects of my own demise, and I wish other shareholder held a common view when it comes to Warren. If the peanut brittle doesn't get him, we'll be fine. BTW, it's the unforeseen risk that gets you. Anticipated risk is taken care of by the intelligent. I believe it is more than fair to assume that Warren, Charlie and the Board have addressed succession in the same intelligent manner that they address other important issues facing Berkshire.

2. Warren is still sensitive to the risk of a der