Sign up for the latest news and insights
Sign up for the latest news and insights
On Saturday 2 May, the Hewison Private Wealth partners, advisers and I attended the Berkshire Hathaway annual general meeting (AGM) in Omaha, Nebraska, United States.
Berkshire Hathaway is the listed investment company of the world’s most successful and wealthy investor, Warren Buffet. Buffet is recognised as the “Oracle of Omaha”, with his investment philosophy based on value investing, a philosophy that we believe in strongly.
Value investing assumes that markets are not always efficiency markets. Therefore, opportunities exist to research and purchase companies that are being undervalued by the market.
Most of Berkshire Hathaway’s holdings are not widely recognised household names including; Clayton Homes, GEICO, See’s Candies and Fruit of the Loom. It does have some household names though including Coca Cola, Wells Fargo and Heinz.
It would be remiss of me not to mention Buffet’s lesser known investment partner and right-hand man, Charlie Munger. Buffet and Munger have together built Berkshire Hathaway from the ground up into the $358b juggernaut it is today.
Berkshire Hathaway’s AGM is like no other. Arguably, there is nowhere else in the world where you will see more than 20,000 people converge into a basketball stadium to hear two elderly men (Buffet 84 years’ old and Munger 91 years’ old) field un-vetted questions from the audience.
Despite their age, both men have incredibly sharp minds, and in Mr Munger’s case, a sharp tongue. We hung on their every word.
Here are our key insights from Warren Buffet and Charlie Munger.
At 84 years’ young, Warren Buffet has no plans to slow down, or god forbid – retire!
The experience was an inspiring career opportunity for myself, the partners and advisers of Hewison Private Wealth. We have always been long-term, value investors, and following the Berkshire Hathaway AGM, we have even more faith the investment philosophy.
After all, like Berkshire Hathaway, it has stood the test of time.
The information provided above is general information only and individuals should seek specialised advice from a qualified financial adviser. Please contact Hewison Private Wealth for more information.
Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.auPlease note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.