They understand the question and replied. Just because the person does not have English primary language does not mean they did not understand. Maybe you did not understand. Listen to Warren example where she talks about a women does not understand English and able to Build million dollar business which Berkshire acquired and she worked till 94
I think the question was actually about what is a fair fee structure for money managers. This is something that has been partially answered by both of them when they rejected "2 and 20" as a fair/reasonable fee structure. So by implication the appropriate fee structure is LESS than 2% of funds under management and LESS than 20% of extraordinary profits above the agreed benchmark. Now note that often the "benchmark" is something like a short term govt. bond index (i.e. close to zero) so the 20% will take a huge bite out of anything the fund earns.
I believe from what I’ve read they actually prefer no annual fees of any percentage and prefer to take something like 25% of profits only if they make profit. That way both themselves and their investors make money along side eachother
I don't know about anyone else, but I usually fast forward the overly long and winded questions by the audience....especially if they are incomprehensible....
This is more entertaining that most stand up comedians. It's pretty unbelievable Warren can develop all that material, WHILE running one of the most valuable companies in the world.
There is so much truth and wisdom in these stories. Executive compensation reporting is idiocy. When Anglo-Saxon investors demanded it of Swiss companies (Switzerland is home to many multi-nationals), the local (entrepreneurial) Right opposed but the Left cheered it on, hoping to expose and curb executive pay. What happened is what the Right feared and the reverse of what the Left hoped: if previously, employed CEOs had been content with running a multi-billion corporate for a couple of 100k$ p.a., this was no longer the case. Horizontal comparisons, envy, status thinking and executive compensation committees made sure a company's CEO was from that point onward paid according to international standards and not some poor schmuck's salary. Well, that ship has sailed I'm afraid.
envy can be a motivation to switch companies or improve work tactics to get a higher comp. it's a trigger for greed, and greed can ne good if done right..
It also sounded like the guy had public speaking anxiety going on in addition to struggling with the language, I don't know why he was speaking up into a mic at all
@@zarinaromanets7290 Very mean spirited. It takes courage to speak in front of a room full of strangers in a foreign language. I admire the man's balls.
Haha I'm Indian and even I found it hard to follow initially too. English definitely wasn't even a second language for him. But Warren wasn't dodging the fact he didn't follow what was said.
Just two guys, enjoying their banter and having the time of their life.
I love that they avoided the question nobody understood with some good stories :)
They understand the question and replied. Just because the person does not have English primary language does not mean they did not understand. Maybe you did not understand. Listen to Warren example where she talks about a women does not understand English and able to
Build million dollar business which Berkshire acquired and she worked till 94
@@NiteshBhatter dude asking made no sense. It’s jibberish
I couldn't understand the question until Charlie explained it.
For the third time yes! 😆
Well done
Nice to see you here.
Warren spent 1:20 minutes on a story to basically say Charlie has better hearings than him may be he caught the question 🤣
Just look at their faces while the dude is talking especially munger X''D
😂😂
Hahaha right
🤣🤣🤣
There is a famous quote warren always says
"I can see and charlie can hear"
I think the question was actually about what is a fair fee structure for money managers. This is something that has been partially answered by both of them when they rejected "2 and 20" as a fair/reasonable fee structure. So by implication the appropriate fee structure is LESS than 2% of funds under management and LESS than 20% of extraordinary profits above the agreed benchmark.
Now note that often the "benchmark" is something like a short term govt. bond index (i.e. close to zero) so the 20% will take a huge bite out of anything the fund earns.
I believe from what I’ve read they actually prefer no annual fees of any percentage and prefer to take something like 25% of profits only if they make profit. That way both themselves and their investors make money along side eachother
I don't know about anyone else, but I usually fast forward the overly long and winded questions by the audience....especially if they are incomprehensible....
This is more entertaining that most stand up comedians. It's pretty unbelievable Warren can develop all that material, WHILE running one of the most valuable companies in the world.
From this we learned that we should buy general motor at 30.
I love your channel, thank you for all the videos.
Buffett and Munger are Legends.
A little backstory...the guy wrote a letter to Munger too. That's who said "Moron, get my name right before asking a question."
How did you know?
And, of course, Charlie called to tell you that. Freaking dumbass!
Tim pita?
Great listen as usual
That is so high level. I am just happy I got it!
Kids watch movies i watch annual shareholders meeting
You're also watching too... Don't worry you're on right path
There is so much truth and wisdom in these stories. Executive compensation reporting is idiocy.
When Anglo-Saxon investors demanded it of Swiss companies (Switzerland is home to many multi-nationals), the local (entrepreneurial) Right opposed but the Left cheered it on, hoping to expose and curb executive pay.
What happened is what the Right feared and the reverse of what the Left hoped: if previously, employed CEOs had been content with running a multi-billion corporate for a couple of 100k$ p.a., this was no longer the case. Horizontal comparisons, envy, status thinking and executive compensation committees made sure a company's CEO was from that point onward paid according to international standards and not some poor schmuck's salary.
Well, that ship has sailed I'm afraid.
is it Mohnish Pabrai who asks the question? ahahha
nope
these guys are hilarious
The Cocker Spaniel example...
His question was painful to listen to
English his second language, likely. Also 30,000 people in that room.
Buffett was trying so hard not to crack up when the Indian dude was asking a question
🤣🤣🤣
Buffett said Ratcheting lol 😂
Time is Tim me?
Pretty funny video i might add💪
I love you guys
Lol Charlie is true Savage🙂
He fucking misspelled Warren's name in his letter...
But Charlie is a savage lol
the joke wasn't the funny part of the video. Such anguish in their faces listening to the question!
envy can be a motivation to switch companies or improve work tactics to get a higher comp. it's a trigger for greed, and greed can ne good if done right..
Why do so few people make comments to what billlionars say?
BCZ many have the drive for that
ronaldo because most people are fools and they have nothing to say.
Wtf is that Indian trying to say?! 😁
👍
Weren't these guys in the muppets? Concentrated gold dust.
He have an english lang to ask question but to understand them answer, unfortunately not
Omg the english is so bad....
It also sounded like the guy had public speaking anxiety going on in addition to struggling with the language, I don't know why he was speaking up into a mic at all
@@zarinaromanets7290 Very mean spirited. It takes courage to speak in front of a room full of strangers in a foreign language. I admire the man's balls.
@@pneron2032 I was making an observation not saying anything mean. Of course it would be hard, I would probably sound the same.
Haha I'm Indian and even I found it hard to follow initially too. English definitely wasn't even a second language for him.
But Warren wasn't dodging the fact he didn't follow what was said.
Imagine tens of thousands of people watching and looking at you, if you aren't used to it, then It might be a problem
Calm down dude
Can't he get to the point.
lol
Someone teach the Indian guy english
Lmao that question 😂
BEFORE ASKING A QUESTION LEARN TO SPEAK THE LANGUAGE...SMH...👍