Refraining from certain investments has cost Berkshire billions

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2004 Annual Meeting

Refraining from certain investments has cost Berkshire billions

Warren Buffett explains why his reluctance to pay a little more for some investments, like Walmart, has been a mistake.

Sat, May 1 2004 • 9:00 AM EDT

More From 2004 Annual Meeting

2004 Annual Meeting Highlight Reel

Morning Session - 2004 Meeting

Afternoon Session - 2004 Meeting

Could Bill Gates do Buffett’s job?

"It’s not a business that requires extraordinary intellect"

Why Buffett and Munger think about "low probability events"

"I would rather throw a viper down my shirtfront"

Buffett: I'm staying on Coke’s board

"A lot of mischief can happen with derivatives"

Berkshire stock vs. index fund

U.S. has "certainly benefited enormously" by immigration

Where Berkshire draws the line on ethical decisions

"The opportunities have won out over the problems over time"

"We don’t consider many stupid things"

"The trite stuff is what works"