Berkshire’s discipline is like "Ted Williams waiting for a fat pitch"

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2003 Annual Meeting

Berkshire’s discipline is like "Ted Williams waiting for a fat pitch"

Warren Buffett and Charlie Munger talk about the importance of sticking to what they know when making investment decisions.

Sat, May 3 2003 • 1:00 PM EDT

More From 2003 Annual Meeting

2003 Annual Meeting Highlight Reel

Morning Session - 2003 Meeting

Afternoon Session - 2003 Meeting

"You can’t get rid of love"

Why Buffett doesn’t take a performance fee

"Wakeup" warning on derivatives

Buffett wants managers who "love their businesses the way I love Berkshire"

Buffett on sneaking out of school to go the race track

"If you are willing to do dumb things in insurance, the world will find you"

Fretting is "the enemy of long-term performance"

How Buffett makes investment decisions

"Banking has been a remarkably good business"

Businesses with ideal financial traits are hard to come by

How the snowball effect has led to Berkshire’s success

Why Buffett doesn’t ask his friends for favors