-->Dan Pecaut and Corey Wrenn of Pecaut & Co. (712 252 3268) are great admirers of Warren Buffett, and I assume, holders of Berkshire Hathaway stock. They have been attending the Berkshire meetings for years, and have just published a terrific run-down of the latest Berkshire meeting. In 1980 only 12 stockholders attended the annual Berkshire meeting in Omaha. This year an incredible 24,000 stockholders arrived. My comment is that as far as I know, Warren Buffett is the only person in history to amass assets of over one billion dollars strictly by investing.

Just a few of the items noted by Pecaut and Wrenn -- Buffett and his partner, Charles Munger, are unenthusiastic about ethanol. Historically, agriculture processing has not earned high returns on capital. Munger was negative on ethanol, noting that more fossil fuel energy is used than created in the ethanol process.

Buffett feels"stronger than ever" about a weak dollar. Buffett noted that the US is a net debtor to the world to the amount of $3 trillion. He believes that when the comeuppance finally arrives, the currency market will play a major part.

Buffett feels that the one sided-effect of the weaker dollar will be inflation. He noted that it is tempting to governments to inflate in order to make their debts easier to deal with.

Buffett is not optimistic about the media business because of the great amount of competition. This includes newspapers, TV and cable. There's a huge amount of free information on the internet.

Berkshire bought Clayton Homes, which is a leader in manufactured homes. Buffett believes that manufactured homes could be the way of the future, and that Clayton could be a leader in this field.

On terrorism, Buffett called it"the ultimate challenge of mankind." Our of a population of 6 billion, there will always be a small group of crazies intent on damage. But its the technology of today that makes this group so dangerous.

Auch eine Verhältnismässigkeit:

1980: 12 Aktionäre an der Generalversammlung
2006: 24.000 Aktionäre und Aktionärinnen.