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What Jim Cramer Learned from Warren Buffett's Berkshire Hathaway's Meeting

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Warren Buffett's been hogging headlines all weekend.

Berkshire Hathaway (BRK.A) (BRK.B) released its first-quarter 2019 earnings Saturday, just prior to its marathon shareholders meeting.

While the earnings appeared an explosive surge from the same time last year -- when Berkshire reported a loss of around $1.1 billion -- the numbers were in reality an "extremely misleading" byproduct of recently imposed accounting rules, according to Buffett, who cautioned that operating income was a more accurate indicator of the conglomerate's health. That operating income rose about 5% year-over-year from around $5.3 billion last year.

"The one takeaway I had is, is that [Warren Buffett is] so rich that he could actually offer Occidental OXY money at 8% and they took it and he could have done more," said Cramer. "So my takeaway is he can move very fast, but you have to pay a lot for his speed."

Related. Warren Buffett: Wells Fargo Made Mistake, Not Crime

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