Thread by @deepakshenoy

Gonna thread it from now. The Berkshire AGM.

Is there any way that kids can develop the delayed gratification? Asks a child.

Charlies answers are too difficult to type but are hilarious.

Warren: buying govt bonds is of no use you won't get more if you delay grat. Dont delay what gives you enjoyment.

I personally believe in spending 2 or 3 cents of every dollar I earn (laughter) says Warren

Will you have Greg and Ajit on stage next time?

Warren: we thought of it and honestly Charlie and I are worried they'll make us look bad

Charlie: we think you will just have to endure us.

Q: How should I approach managing other poeples money?

Charlie: a man asked Mozart how to compose, Mozart said no he was too young to compose.

Man says but you were 10 years old when you started, I'm 21!

Mozart: but I didn't go around asking other people how to do it

What would you value in life today?

Charlie: we would like a little more of it.

Warren: we are not in the business of explaining why we own every stock we own. Why in the world should we tell the world why these stocks are good

9 year old: this is my third year (at the Berkshire AGM)

Warren: you should be rich by now.

The question is like boss why don't you invest in tech companies. But very complicated long sentences.

Warren: maybe we will.

Then he feels bad and talks about his having totally missed the bus but with more complicated long sentences.

Everyone is happy but no impact on GDP.

Can activist investors target Berkshire after your death?

Charlie: yes many decade after my death, but I amnt bothered about that

why do say buy index funds and hold the Berkshire money in tbills? Your book value would be greater by 12% in the last 12 years.

Buffett: it has execution problems with large amounts of capital. 100 billion it won't make sense.

Charlie: we are not gonna change

What about Tesla doing insurance directly?

Buffett: I would say an automaker has as much chance of running a uccessful insurance business as an insurer has of running a successful auto business.

(This might be a place I super disagree. Insurance is hardly difficult)

Warren and charlie have not has an argument, meaning emotionally, for sixty years. Disagreements yes. But no arguments

Charlie: we're gonna work fine.

These guys have super energy. I'm exhausted just sitting in the audience

Why isn't see's candies as big as Hershey's or such? What could we have done better?

Charlie: for the same reason you haven't won the Nobel prize in physics or achieved immortality. The business is great but not phenomenal.

He didn't win. It was close, though.