Tuesday, May 09, 2006

The Meeting

Attendance came in at 24,000 shareholder partners, a new record.

Complete notes are posted here, courtesy of Peter Boodell.

A few quotes that are worth mentioning:

CM: "I think he’s demented", comments Munger, when asked to discuss one of Siegel’s books that argues for high sustained returns on common equities.

WEB: "Envy is the worst sin. With lust and gluttony, at least you get something out of it.", commenting on Wall Street compensation practices.

CM: "We know the edge of our competency better than most people do. It’s not a competency if you don’t know the edge of it."

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