Omaha again

这个问答实录实际上只是记录了一些大意，最好玩的东西都被过滤掉了，很可惜。其实巴菲特和芒格的双簧戏是最好玩的一部分，尤其是他们的“调侃及互相调侃”实在是让人开心。这是我第一次呆到了大会结束，大概是因为现在能大致听懂很多了。总而言之，每年的股东大会老巴和芒格讲的都是一样的东西，但每次听完总会觉得有…

Source: http://nteswjq.blog.163.com/blog/static/126998120114115837414/

Omaha again

> By Duan Yongping · his NetEase blog (nteswjq.blog.163.com, now closed; read from web archives) · 2011-05-01 · [Original link](http://nteswjq.blog.163.com/blog/static/126998120114115837414/) ([archived](https://web.archive.org/web/20110509175459/http://nteswjq.blog.163.com:80/blog/static/126998120114115837414/))

> This post includes letters from others or quoted material; Duan Yongping's own words are marked separately.

This Q&A transcript really only records the gist; the most fun parts were all filtered out, which is a pity.

Actually the double act of Buffett and Munger is the most fun part, especially their "teasing and teasing each other," which really makes people happy.

This was the first time I stayed until the end of the meeting, probably because I can now roughly understand a lot of it.

All in all, every year at the shareholder meeting Old Buffett and Munger say the same things, but every time I listen I always feel I've gained something new.

That's why some people say this shareholder meeting is the church value investors go to once a year.

The day after the meeting I went to Buffett's "brunch" and saw many familiar faces.

Bill Gates looks much more mature; it seems charity work is hard work.

Old Buffett and Munger look in very good shape; it seems the meeting in this form can go on for a few more years.

I asked Old Buffett, "Why is it that every time I see you, you seem younger again? Is there a secret?" He whispered in my ear, "Cherry Coke."

I understood what Old Buffett meant by "hard to understand and unforgivable."

Also, they said that if they had another 50 years, they would pay more attention to and study high-tech companies more.

In the few days since I got back, I had a colonoscopy. In America people are asked to have one as soon as they turn 50, and then once every five years after that. I feel medical care in America is really good.

Bin Laden has been killed off by the Americans once again; this time it looks like it may be the last time.

[Here the original reposted the Sina Finance transcript of Buffett's 2011 shareholder meeting Q&A, as carried by imeigu (http://news.imeigu.com/a/1304217119599.html); it is not Duan Yongping's words and is not included. See the archived page linked at the top.]