What Questions Should Be Asked of Berkshire This Year?
Morningstar's Gregg Warren, who will be on the analyst panel at this year's meeting, details the questions he hopes Buffett and Munger will address.
The main focus of Berkshire Hathaway's (BRK.A) (BRK.B) annual meeting is the question-and-answer segment that Warren Buffett and Charlie Munger hold, where the two men have for a number of years fielded questions from a trio of financial journalists and from shareholders themselves (via a lottery). Starting in 2012, Berkshire included in the Q&A segment a panel of three sell-side insurance analysts who cover the company's stock.
The analyst panel remains in place, but has been tweaked in subsequent years to include just one insurance analyst from the sell-side--which is Jay Gelb of Barclays this year--one generalist analyst from the buy-side--with Jonathan Brandt of Ruane, Cunniff & Goldfarb, the investment firm behind the Sequoia (SEQUX) fund, returning this year--and what was supposed to be an analyst/investor who is bearish on Berkshire. As Buffett was unable to find an "accredited bear" this year, an invitation was extended to Morningstar in its capacity as an independent research firm. We continue to favor the inclusion of the analyst panel in the Q&A segment (and not just for purely selfish reasons), as we believe that it helps to focus the discussion during the meeting on more company-specific topics.
Greggory Warren does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.