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2003 Annual Meeting

How Buffett caught Jack Ringwalt "in heat"

Warren Buffett says Jack Ringwalt would have a 15-minute window every year when he wanted to sell his insurance company, National Indemnity. Buffett describes how he and Charlie Munger were able to catch Ringwalt during one of these short phases.

Sat, May 3 2003 • 1:00 PM EDT
More From 2003 Annual Meeting
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2003 Annual Meeting Highlight Reel
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Morning Session - 2003 Meeting
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Afternoon Session - 2003 Meeting
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"You can’t get rid of love"
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Why Buffett doesn’t take a performance fee
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"Wakeup" warning on derivatives
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Buffett wants managers who "love their businesses the way I love Berkshire"
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Buffett on sneaking out of school to go the race track
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"If you are willing to do dumb things in insurance, the world will find you"
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Fretting is "the enemy of long-term performance"
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How Buffett makes investment decisions
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Berkshire’s discipline is like "Ted Williams waiting for a fat pitch"
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"Banking has been a remarkably good business"
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Businesses with ideal financial traits are hard to come by
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How the snowball effect has led to Berkshire’s success