BERKSHIRE HATHAWAY ANNUAL MEETING QUOTES
The annual confab in Omaha is only as good as the questions asked. On that score, this year was the most disappointing in twenty years. At the same time, there were several interesting and provocative quotes offered.
TOM GAYNER: “THE EVOLUTION OF A VALUE INVESTOR”
Tom Gayner is President and Chief Investment Officer of Markel. In this one hour video of his speech to the investment club at Google, Tom recounts the evolution of his investment approach and articulates what he looks for in a company that would lead to making an investment. We are delighted to be Markel shareholders having acquired our first shares almost 22 years ago. We are equally pleased to acknowledge Tom as a thoughtful investor and we think of him as a friend.
ESTATE TAX EXEMPTION
Assuming you are fortunate enough to accumulate a sizable estate, for years you may have assumed some estate tax would be due when your property was passed on to your heirs. Up until just a few years ago this would have been the case. Now, however, only a tiny fraction of us will be subject to this tax. As this WSJ blog points out, in 2015 the total estate tax exemption per couple is nearly $11 million. Furthermore that number is scheduled to increase in the coming years with inflation. While this is good news, there still is a need for careful estate planning. I am well acquainted with outstanding legal counsel that specializes in this area. Should you need a referral to a team of estate planning experts, please let me know.
HOW TO BE A MORE INTELLIGENT INVESTOR
This year will mark the twenty first year I have taught a basic course on investing for continuing education requirements through the Georgia Society of CPAs. One does not have to be a CPA to attend and benefit from the discussion. This description of the material covered may whet your appetite. I hope to see you in class.