This meeting was indeed different for me in some important ways.
Buffett came prepared to address some issues, no matter the questions asked: Bitcoin, excessive trading allowing him to buy 14% of OXY in two weeks, Activision, Munger’s guidance on “very practical matters” from the past, the farce called Fairness opinions, buying Joe Brandon back, Tribalism in the USA, overcoming mental illusions by critical reading and on and on.
I don’t about others but I have hated the recent years (say, the past 5-7 years) because of the format. The presence of 3 analysts and 3 journalists on stage along with a whole bunch of dumb questions in the audience was in effect “running the clock”. I hated the format.
Buffett fixed it this time. He gave himself airtime on preselected issues important for owners. In prior meetings there were over 60 questions- 36 from the 6 folks on stage , the rest from the audience in the arena. Most of those were silly questions anyway. This time, there were 20 total. 10 from Betty Q which she did okay with on some, many of hers were “more of the same” as what was asked by the audience. I’ll be even happier Betty also gets the boot next year. Running the clock on 99/91 year old wizards is stupid. Let them say whatever the hell they want to say, it’s way better than the peanut gallery questions!
Fantastic meeting for me similar to Munger on oil, “My opinion is not shared by anyone else; I think they’re all wrong”.