Next Thursday, for the seventh time, I am going to Omaha, Nebraska, for the Berkshire Hathaway annual meeting. But this is the first time that I find myself respecting Mr. Buffett a little bit less than the year before.
One of Berkshire Hathaway’s (BRK.A
) largest and oldest stock holdings, Coca-Cola Co. (KO
), held a proxy vote yesterday, and its management clearly decided to award itself too much stock. Warren Buffett
) acknowledged in an interview that he is against the plan: “We do not believe it would be consistent with Berkshire’s long-ingrained culture to support such a plan at any of your equity holdings.” Continue Reading »