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2019 Berkshire Hathaway Annual Shareholder Meeting

Brown Advisory

It doesn’t manage for quarter-to-quarter earnings, provide earnings guidance, court investors with quarterly earnings calls and management meetings, or even have budgets and strategic plans at the parent company. He communicates to them what he would tell anyone who has a large investment in the company.

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2019 Berkshire Hathaway Annual Shareholder Meeting

Brown Advisory

It doesn’t manage for quarter-to-quarter earnings, provide earnings guidance, court investors with quarterly earnings calls and management meetings, or even have budgets and strategic plans at the parent company. He communicates to them what he would tell anyone who has a large investment in the company.

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Transcript: William Cohan

The Big Picture

RITHOLTZ: In the ‘80s, they were really a financial arm of GE and a way to facilitate its client base. COHAN: — right now, that allowed people to communicate with one another. COHAN: You know — RITHOLTZ: What’s your advertising dollar? COHAN: Plenty of relevance. They were really an M&A machine.