Berkshire Hathaway 1994 Annual Meeting Audience Question # 30

When Warren and Charlie plans to retire

Warren Buffett:

Zone 4.

Audience Member:

My name is Sheldon Scizick from Chicago, Illinois. I have two questions.

The first one is concerning Mr. Munger. We know what Mr. Buffett’s retirement plans are. I was wondering what yours… your plans for the future concerning Berkshire are?

Charlie Munger:

I have always preferred the system of retirement where you can’t quite tell from observing from the outside whether the man is working or retired.

Warren Buffett:

He does it well, too.

Charlie Munger:

You know, a problem in many businesses, particularly the more bureaucratic ones, is that your employees retire, but they don’t tell you.

Warren Buffett:

I think I can speak for Charlie on this one.

Charlie and I are not in any hurry to retire. He’s trying to outlast me, actually.

Audience Member:

Thank you.

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Q&A with Warren Buffett and Charlie Munger: A Compilation of All Shareholder Questions and Answers from The Berkshire Hathaway Annual Shareholder Meetings

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