Squawk Pod Reports: Weekend with Warren Buffett Part 2 5/8/23

Squawk Pod

CNBC

News, Business News, Business, Investing

4.2 • 543 Ratings

🗓️ 8 May 2023

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

CNBC is at the annual Berkshire Hathaway Shareholders Meeting in Omaha, Nebraska, with Warren Buffett and Charlie Munger. It’s Woodstock for capitalists! Shareholders ask the two investing legends about Berkshire’s stake in Apple, America’s relationship with China, and of course, the Berkshire investing philosophy. Tech investor Ann Winblad, a meeting attendee with an impressive business legacy of her own, breaks down some of Buffett’s hottest takes on AI and technology. Becky Quick gets an inside look at the dozens of portfolio companies selling their wares at the annual meeting, including the company’s newest addition: maker of Squishmallows, Jazwares. Jazwares leaders Judd and Laura Zebersky share their strategy for building and maintaining hype over stuffed animals, and they unveil the newest editions of Squishmallows, exclusive to the 2023 Berkshire Hathaway Annual Meeting: plushies in the likeness of Buffett and Munger. Plus, a conversation with one of the tens of thousands of shareholders that makes the pilgrimage to Omaha every year: Jon Dash. He bought his first share in eighth grade and spent the next 29 years thanking Warren Buffett for his wisdom…by buying the Oracle dinner, once a year. In this episode: Alex Crippen, @alexcrippen Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Hi, I'm C. NBC producer Katie Kramer. This is a special Squawk Pod Report series,
0:09.4	Weekend with Warren Buffett.
0:11.0	Hi. We're coming to you straight from Omaha at the Berkshire Hathaway annual shareholders meeting.
0:17.5	As for you going to the building, please have your credentials out.
0:22.3	The wit and wisdom of investor Warren Buffett from the Oracle himself.
0:26.4	They're good businesses and to think that a criteria for Apple is different than the other businesses we own. It just happens to be a
0:34.8	better business than any we own. If they had to give up a second car or give up their
0:40.0	iPhone, they'd give up their second car. And on America's regional banking crisis.
0:45.0	The CEO gets the bank in trouble, both the CEO and the directors should suffer.
0:49.0	The stockholders of the future shouldn't suffer.
0:51.0	The shareholders making the pilgrimage to Omaha every year and you bought shares at what age
0:56.8	13 was the first share I bought yeah
0:59.2	Plus who's at Berkshire's biggest party, the 60 portfolio companies,
1:03.4	including the newest one,
1:05.2	maker of squish malice.
1:06.7	Children don't know there's a recession.
1:08.4	They don't know about inflation or recessions.
1:11.2	We're bringing you the Warren Buffett philosophy.
1:13.6	It's changed my life in a big way.
1:15.5	Straight from Woodstock for capitalists.
1:17.8	If you would have asked us 26 years ago,
1:19.4	if this would ever, ever happen, we would say no way way but anything's possible in America.
	...

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