2025 年伯克希尔·哈撒韦股东大会
2025 年伯克希尔·哈撒韦股东大会 时长：约 2小时29分钟 来源：CNBC Warren Buffett Archive https://buffett.cnbc.com/
In the morning session , Warren Buffett, and Berkshire Vice Chairmen Greg Abel and Ajit Jain discuss tariffs and trade, the company's long-term plans for its Japanese stock holdings, and why investors need to stay calm amid stock market swings that Buffett calls minor when compared much bigger moves over the decades.
1. Welcome and a 'few figures'
00:00 - 02:50
2. Directors introduced
02:50 - 06:12
3. Apple's Tim Cook has made more money for Berkshire than I have
06:12 - 07:44
4. 'She's made this whole thing work'
07:44 - 08:49
5. Sales of Berkshire book benefit Omaha charity
08:49 - 16:21
6. 'Trade should not be a weapon'
16:21 - 22:36
7. Berkshire foresees long-term relationships with Japan's 'trading houses'
22:36 - 33:07
8. Why so much cash? 'Things get extraordinarily attractive very occasionally'
33:07 - 40:27
9. Real estate is 'so much harder' than stocks
40:27 - 46:59
10. Buffett wouldn't trade insurance chief Ajit Jain for 10 years of AI innovations
46:59 - 49:46
11. Question about company Berkshire doesn't own prompts a story about Jay Pritzker, the price of cocoa, and the invention of the rear view mirror
49:46 - 58:28
12. Lucky to be born in the U.S., even though problems remain to be solved
58:28 - 62:17
13. Patience is great, but you also have to be ready and willing to act quickly on a great opportunity
62:17 - 71:02
14. Jain: GEICO has caught up to competitors under Todd Combs' leadership
71:02 - 79:55
15. Buffett at Berkshire: 'It's a pretty wonderful life'
79:55 - 89:00
16. Why Buffett worries about the U.S. dollar and currencies in general
89:00 - 99:15
17. Advice for Mongolia: Keep a solid currency
99:15 - 103:43
18. Berkshire can't compete with risks private equity firms are taking in life insurance
103:43 - 108:16
19. Be with people who will make you better
108:16 - 117:03
20. You have to check your emotions at the door when you invest
117:03 - 121:29
21. 'Focus on the things that have been good in your life'
121:29 - 127:11
22. The uncertain future of auto insurance and the dawn of the nuclear age
127:11 - 139:54
23. Q1 earnings summary
139:54 - 149:55