2004 Berkshire Hathaway Annual Meeting Afternoon Session | Warren Buffett | Charlie Munger

(May 1, 2004) Buffett strongly defends himself from an accusation by CalPERS that it’s a conflict of interest for him to be on Coca-Cola’s board. He also reveals why many CEOs are paid too much, admits to a mistake that cost the company $10 billion, explains why temperament is more important for investing than intelligence, and discusses his views on immigration in the U.S.

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