Three thoughts from the Berkshire Hathaway meeting

Better late than never.

1) Is being an outstanding operator enough? (this is what the CEO-designate Greg Abel is). Buffett was an outstanding investor and hired many good operators. The fact that Berkshire has not done many acquisitions with its cash-pile is a worry. Has it turned gun-shy? In the meeting they talked about walking away from a $10 billion deal. Perhaps, a big coincidence but 3G Capital purchased Sketchers sneakers company last week for just that amount. Why isn’t Berkshire making these deals?

2) Buffet’s greatest hits and phrases were uttered at the meeting. “Leave your emotions at the door” when investing. If you can’t control your emotions, don’t invest.

3) Stock guides. Remember Buffett used to trawl through stock-guides to find ideas and this is how he came across his Japanese Holding company investments

$BRK