Warren Buffett's Letter to Berkshire Hathaway Shareholders

00:00 Intro
00:51 Charlie Munger: The Architect of Berkshire Hathaway
03:38 Buffett's Annual Letter
06:00 Rascals: The Pilot Flying J Story
09:46 Stuck Capital / Regulation: Berkshire Hathaway Energy, Forest Fires, and Litigation
11:52 Are Dividends on the Horizon?
13:52 Occidental Petroleum (OXY): Is It a Long-Term Commitment Now?
16:16 The 5 Japanese Trading Companies: Are They Long-Term Commitments Now?
21:25 Insurance: Improving Rates and Buffett's Ability to Anticipate a Year Ahead
24:50 What Happens to the Stock If They Start Paying a Dividend?
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[@mikebartlett723]

In a world as dry as finance, this corporate annual report made me nearly well up with tears. Thanks and good bye Charlie.

[@ankitgu56]

They may also do variable dividends subject to mgmt/board discretion. This doesn’t happen often in public markets but more often in private companies. This helps resolve various issues discussed such as needing to build capital at times and not be dragged down by mandatory dividends. It also allows them to forgo dividends when opportunities arise such as large M&A.

[@magalengo]

I highly doubt that will happen with Buffett still alive. He has stated numerous times that paying a dividend would be an admission of failure. His ego will prevent the rational payment of a dividend.

[@Mri881]

Brk agm is gona sad without charlie 😢