Berkshire Hathaway 2017 Annual Meeting Audience Question # 58

Warren’s regret in his business career

Warren Buffett:

OK. We’ll move to station 10 and see if we can improve on it.

Audience Member:

Hi. My name is Andy Lijun Lin from Loyal Valley Innovation Capital from Shanghai.

This is my sixth year from Shanghai to here. I have say… I have to say to you two, Warren and Charlie, you are highly respected and deeply loved by millions and millions, or even billions, globally.

I have two questions today. First question, in your letters to shareholders you said you believe EBITDA is not a good parameter to value a business. Why it’s not? Can you elaborate on that?

Second question, you both have very successful and happy lives with great respect. My question is to each of you. In retrospect, from a personal standpoint, do you have regrets in life?

If there is one thing you could have done differently in your life, family, personal, or business, what is it? Thank you very much.

Warren Buffett:

Yeah. I don’t think you should expect us to answer that on personal.

But in business, I would say I wish I’d met Charlie earlier.

We’ve had a lot of fun ever since I was 29 and he was 35. But it would’ve been even more fun if we’d started many, many years earlier. We had a chance to. We worked in the same grocery store but not at the same time.

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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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