TIP196: (Part II) Buffett & Munger Q & A at the 2018 Berkshire Hathaway Shareholders Meeting (Business Podcast)
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 24 June 2018
⏱️ 59 minutes
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| 0:00.0 | You're listening to TI-P. |
| 0:02.4 | Hey, how's everyone doing out there? |
| 0:04.0 | On today's show, we continue our recap of the 2018 Berkshire Hathway shareholders meeting |
| 0:09.5 | by playing the top questions we heard this year. |
| 0:12.2 | If you missed last week's episode, I would recommend that you go back an episode and start there. |
| 0:16.8 | So without further delay, here's the second set of Q&A that we found noteworthy. I hope you enjoy. |
| 0:25.3 | You are listening to THE Investors Podcast. |
| 0:28.2 | Where we study the financial markets and read the books that influence self-made billionaires |
| 0:32.8 | the most, we keep you informed and prepared for the unexpected. |
| 0:45.2 | All right, so welcome to the show. We're excited to have you guys back here for Round Two, |
| 0:49.8 | where we're going to be talking about some of the top 10 questions that we heard at the Berkshire |
| 0:54.7 | Hathway shareholders meeting this past year. So without further delay, Stig and I are just |
| 0:58.8 | going to go ahead and kick this off and play the first question for you. |
| 1:01.6 | This question comes from Kili and actually is directly about the issue of moats. |
| 1:07.6 | He notes that Elon Musk this week on his Tesla earnings call said the following, quote, |
| 1:13.6 | I think moats are lame. They are like nice and a sort of quaint vestigial way. |
| 1:19.2 | And if your only defense against invading armies is a moat, you will not last long. |
| 1:24.2 | What matters is the pace of innovation that is the fundamental determinant of competitiveness, |
| 1:29.7 | unquote. So Warren, it seems the world has changed, business is getting more competitive, |
| 1:35.7 | pace of innovation, technology is impacting everything. Is Elon right? |
| 1:42.1 | Elon says a conventional moat is quaint and that's true of a bottle of water. |
| 1:47.6 | And he says that the best moat would be to have a big competitive decision and that is also right. |
... |
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