If there was one guy in the world you would be happy to take financial advice from it would have to be Warren Buffet. Warren's nickname is the Sage of Omaha, and he is certainly one of the richest men in the world. Happily Warren is also very generous with his advice.

I'd like to pass on Warren's advice on managing your money.

Most of you will know I had the privilege of going to see the Berkshire Hathaway Annual General Meeting last year. Watching Warren Buffet and Charlie Munger speak off the cuff for four or five hours on a range of topics presented to them was a joy. Equally the group from the Wellington Branch of the Shareholders Association were great fun to travel with.

This year Warren put his AGM on the internet with a live broadcast on yahoo finance so we didn't need to travel to see him. We did enjoy travelling as a group though and may go somewhere "financial" again next year. This year's AGM was live and remains available for replay.  A few of last year's travellers watched this year's AGM from the comfort of our respective lounges while sharing a skype call. We chose the replay to avoid being up all night. It certainly wasn't the whole Omaha CenturyLink Centre experience but we could talk to each other more during the presentation.

Warren was full of advice and observations on a range of topics and included a big spiel on managing your money. The URL for the Yahoo finance replay is https://finance.yahoo.com/brklivestream/ and Warrens advice on managing your money starts at 2 hours 42 minutes. Click along the time bar to the correct hours and minutes to watch what he says. It could be the best 13 minutes of investment advice you ever get. I personally guarantee it is worth every cent you have paid for it.

If you think we can help you better manage your business please give us a call.

I've attached the screenshot from www.longbets.org that Warren presents during his advice.


If you enjoyed that I made some rough notes as I watched around a few other topics, feel free to road test the references if any of the topics appeal to you.

BRK AGM Index

Time index

Subject found there.

0.00

CNBC likelihood Cyber, Nuclear, Biological and Chemical

0:54

Happy in life, best self employed

1.08

Barbershop $1m guarantee re storm

1.15

Tell me about coke and sugar…

1.28

Socialisation of the costs of solar power… and cross border price differences

1:32

Derivatives, dangerous…

1:40

Question on float… in a low interest rate environment, a quarter of a percent is about the same if positive or negative.

1:44

Q on railways and exposure to economic growth… Coal secular, stocking issues, loves BNSF, would buy a second thing at that price… maybe for more…

1:47

At 44 seconds, I got nothing to add…

1:57

Solar power, and cross subsidies

2.02

Effect of Oil price drop…

2.04

Question around higher education

2.24

Defensive pills for BRK?

2:28

On leasing…

2:36

On the Sequoia Fund

Note great quote on "integrity intelligence and energetic"

If they don't have the first one hope they don't have the other two… Valiant Fund

 

 

2:42

Fund Managers: The Protégé Partners Wager Results

Listen to the money management advice from 2:42

What I would like you to do is imagine that in this room we have the entire who own all of America, all the stocks in America are owned by this group…. Catch the rest of this quote…

4.14

Buybacks

4:40

Personal 13G

4:45

Conflict of interest

4:50

The outlook for free cashflow Net income plus incr in float…

4:58

Due Diligence

5.15

 

5:15

Purchase of Van Tile…

5:30

AMEX forecasts…

5:45

Positive Train Control

6:00

"Reported Earnings"

6:01

Fixed income and Credit Default Swaps…

6:05

The worth of Ajit…

6:15

Amount of cash held…

6:30

Rerun of buybacks