Berkshire Hathaway 2013 Annual Meeting Audience Question # 43

Charlie won’t be moving to Omaha

Warren Buffett:

Station 3.

Audience Member:

Hi there. Sean Cawley. I’m a real estate agent in Los Angeles, California.

Question for Charlie. It’s kind of a real estate question, and it’s also a company culture question. Have you ever considered moving to Omaha to be closer to corporate headquarters?

Charlie Munger:

Oh, I think the answer to that is no.

Warren Buffett:

I’m sure the answer to that is no.

Our partnership works extremely well. And even though we’re somewhat technophobic, we have gotten to the point where we can handle using the phone… don’t push us beyond that.

Charlie Munger:

No, we’ve never learned anything beyond the phone.

Warren Buffett:

But we… I mean, as a practical matter, we each know exactly how the other guy thinks, so that we don’t really even need the phone, exactly.

We used to do a lot of phoning back when it cost a lot of money to phone. Now it doesn’t cost anything to phone, and we don’t talk to each other, hardly.

Charlie… but Charlie has a lot of fond thoughts about Omaha, incidentally, as do I.

Charlie Munger:

Yes. Although, I… as I said earlier on this weekend, they’re rebuilding it so rapidly now that I felt like Rip Van Winkle. They’ve torn down so many of the buildings I remember. It’s amazing how much Omaha has changed the last five years.

Warren Buffett:

Well, you have to remember that a third of the lifetime of the country has passed during our lifetime, so you have to expect a little change occasionally, Charlie.

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