Most shareholders are still in Omaha partaking in the festivities, but the six-hour long Q&A session of Warren Buffett and Charlie Munger is done.
As usual, the Q&A was filled with the usual career-advice-seeking questions from teenagers, questions about the state of the world and whether the stock market will go up or down. As it relates to the stock market, Buffett merely commented that it's inevitable that stocks would go up during a period of such low interest rates.
Most interesting was comment Buffett's comment that going back six years ago and looking at the state of the stock market then, he could have never imagined that stocks would be where they are today. That means once interest rates go back up, expect stocks to correct.
This year's meeting continued to draw an even bigger foreign crowd, notably from China. And both Buffett and Munger commented that the future superpowers of the world would be China and the U.S., and that the China reminds Buffett of the U.S. as it was starting out.
Buffett was asked about activist investing, and he noted that the ability to raise larger sums of money today meant that activists are now targeting bigger companies, even those that were not necessarily broken or underperforming.
After he's gone, Buffett said he was confident that no activist would try and break up Berkshire as he noted that the sum of Berkshire's companies would always exceed individual values.