Berkshire Hathaway 1994 Annual Meeting Audience Question # 13

On whether Berkshire has considered hiring a commodity broker, or a lawyer, or both, like Hillary Clinton (she managed to get 530% return on her capital in just one day).

Audience Member:

The second question has to do with, could the board consider looking into a commodity broker, or a lawyer, or both, that could take action similar to Hillary Clinton’s?

I think, you know, making your net worth go up by a factor of five overnight is more than enticing. Some of us might even want to wait for ten months to get a 100-to-1 return on the money.

Warren Buffett:

Well, I want to say… I want to say to you, when I saw that 530 percent in one day, it… Charlie has never done that for us.

I mean… it really caused me to reassess succession plans at Berkshire.

And Hillary may be free in a few years.

I hope you’re applauding over her coming to Berkshire, not… but I’ll leave that up…

OK, that was their second question.

Audience Member:

That was my second question.

Of course, in my experience, it’s been that most of us have thought through this situation and I guess it’s pretty speculative, but I found out that the rules and laws that are made for trading are interpreted rather than enforced. And I think that applied to this particular case, so let’s go on to the third question.

Warren Buffett:

Alright. They’re getting easier.

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