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2003 Annual Meeting

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

Warren Buffett talks about how the amount of money in the insurance industry can cause companies to behave foolishly.

Sat, May 3 2003 • 9:00 AM EDT
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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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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
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Why Buffett doesn’t ask his friends for favors