Name: University of Berkshire Hathaway
ISBN: 9780998406213

Corey Wrenn

Daniel Pecaut

Each year, for thirty years, two veteran investment advisors attended Berkshire Hathaway's Annual Shareholders Meeting. After each meeting, they chronicled Warren Buffett and Charlie Munger's best lessons from that year. This book compiles those thirty years of wisdom for the first time.

30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

University of Berkshire Hathaway

Each year, for thirty years, two veteran investment advisors attended the Berkshire Hathaway's Annual Shareholders Meeting. After each meeting, they chronicled the best lessons they learned from Warren Buffett and Charlie Munger. This book compiles those thirty years of wisdom for the first time.

Cindy Lieberman

The authors recap Berkshire Hathaway annual meetings from 1986 through 2017, starting by listing the venue, # in attendance, location, the company’s F500 rank, stock price and growth vs the S&P 500. For example, in 1986 about 500 people attended the meeting and the stock price was $2,475. In 2017, about 40,000 people attended (and it was live-streamed) and the stock price was $244,121 per share.

Most of the book is a compilation of the investor letters sent to the clients of the stockbrokerage firm Pecaut & Company following the BRK annual meetings. It captures the highlights, good-natured exchanges and advice given by Warren Buffet and Charlie Munger as they address shareholder questions for hours (and hours).

The book does a good job sharing some of the folksiness and plain-speaking that makes these two business leaders so extraordinary. It can be quite repetitive in parts — no doubt due to the shareholders asking the same questions every year (about derivatives, dividends, succession plans, etc.), and the speakers having the same advice (“envy is the only sin that’s no fun”; value investing, etc.).

Business insights/comments about GEICO, BNSF, Heinz, Coca-Cola and of course See’s Candies are sprinkled throughout. To fully appreciate the narrative, you’d want to have a good sense of what happened when: the housing and banking crises, the Wells Fargo scandal, etc as these are alluded to, but seemingly handled with kid gloves. 

In all, an interesting look into the annual meeting of a global conglomerate that has grown from an afternoon event into a multi-day spectacle, with shopping opportunities and films made just for the shareholders. I had this book on my “want to read” list and won an electronic copy. I am glad I read it, and am happy to provide this independent review.

Pranav

A long and satisfying read which simply bursts at the seams with all that investing wisdom packed in. The book very effectively categorises and simplifies the priceless insights of Mr. Buffett and Mr. Munger. It helps greatly, that the authors have an excellent pedigree in Investment and Finance. Book content is well presented, with appropriate comments that explain the underlying concepts referred to by Mr. Buffett and Mr. Munger.
A highly recommended book for all investors who seek to create long-standing wealth, and not merely short term riches.

University of Berkshire Hathaway 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

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