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1998 Annual Meeting

Munger: "It's the best work of its kind I have ever read"

Charlie Munger recommends one of his favorite books, Jared Diamond's Guns, "Germs, and Steel: The Fates of Human Societies." It presents the idea that certain societies were able to conquer others because of geographic advantages.

Mon, May 4 1998 • 9:00 AM EDT
More From 1998 Annual Meeting
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1998 Annual Meeting Highlight Reel
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Morning Session - 1998 Meeting
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Afternoon Session - 1998 Meeting
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Berkshire has people "leagues ahead of Charlie and me"
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"Buy a stock that you don't ever want to sell"
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"We don't have any strategic plan"
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Y2K problem won't have a huge impact on Berkshire
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Buffett on what is important and what is knowable
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"Get it corrected and get back to sleep"
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What Buffett looks for in an annual report
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"That is a seven or eight foot bar that I can't clear"
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There's no "degree of difficulty" factor in investing
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"The secret of life is weak competition"
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Believe markets are efficient? Go right ahead
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"What bothers me is when companies pay a lot of money for mediocrity"