Once a year, investor Warren Buffett and his partner Charlie Munger, open themselves up for 6 hours of Q&A during the Berkshire Hathaway Shareholder Meeting.
In the past, you needed to own shares to gain access, but this year marks the first time the event will be streamed live over the internet.
For my fellow FIRE nerds out there, here’s the link to watch live on Saturday, starting at 10am EST*. The live event will be recorded and available for 30 days on Yahoo Finance, for those who can’t make it this Saturday.
Buffett & Munger field more than one hundred questions relating to investing, economics, and even general life advice on books to read or ideas to pursue.
In light of this weekend’s event, I wanted to retell my favorite analogy from Warren Buffett (scroll down to the end to see the analogy).
This will be my 4th time watching the event, but the first time from my couch.
In 2012, my first stock purchase was for 3 Berkshire class B shares. I bought the shares with the sole purpose of attending the meeting live to see Warren and Charlie speak.
I used to drive 7 hours from Chicago to see the Oracle of Omaha. Now I get to roll out of bed and flip open my computer.
This is a rare opportunity and I would recommend everyone spend some time Saturday to lay on the couch and hear what these two have to say.
My favorite Warren Buffett Analogy:
Imagine you have a car that runs extremely well as it is brand new. This also happens to be the only car you can use for the rest of your life. For every trip you ever plan to go on in the future, you need to have this car take you there and back.
Picture how diligent you would be with the maintenance, how much care you would take to keep the car clean, and how you would prevent the car from incurring any damage.
Now replace the car with your mind, because that’s what the reality is.
Your mind will determine how far you go in life.
Buffett encourages us to constantly be learning because, as he says, “the more you learn, the more you earn.”
He goes on to reinforce this message, “The biggest financial asset that you have going for you, by miles, is the value of your own earning power over the years. That’s really what you should be focusing on.”
As a bonus, I’m including one of my favorite quotes from Charlie Munger,
“All I want to know is where I’m going to die, so that I never go there.”
I’m looking forward to pouring myself a fresh cup of coffee, grabbing my notebook, and settling into my couch.
Here’s to another weekend of learning from two of the best.
*If you’re arriving at this post after April 30th, check back on May 10th, where I’ll write up a recap of the day’s events. Or, check out my twitter handle @distilleddollar for my tweets during the meeting. As mentioned above, the video is available to be replayed for 30 days following the event.