Famous Quotes from 2018 Annual Meeting

1. "Accounting-rule net loss 'not representative' of the business. These are paper losses, not real economic losses."

2. "Precision Castparts is 'a very good business.' We're pleased with the acquisition."

3. "Why Apple and thoughts on Apple's buybacks. We like the business."

4. "I like very much our holdings of American Express. It's been a wonderful investment."

5. "Wells Fargo will emerge stronger after its 'big mistake.' They have a strong franchise."

6. "Health care costs partnership with Amazon and JPMorgan. We're attacking a huge 'industry moat.'"

7. "Buffett vs Elon Musk on whether competitive moats are 'lame.' Munger defended the moat concept strongly."

8. "Musk may be right about some industries, but moats still matter in most businesses."

9. "We don't know what we're doing in cyber insurance. It's a new and uncertain market."

10. "Munger is more interested than Buffett in Chinese stocks. He sees value there."

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Source: 2018_Annual_Meeting.md