The 2019 annual meeting. Buffett and Munger discuss the economy, stock buybacks, and the challenge of finding large acquisitions in a high-priced market.
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Key Takeaways
Buffett defends stock buybacks as "should be done when price < intrinsic value"
Discussion on the challenge of deploying $100B+ in cash
Munger on diversification: "The idea of diversification is madness"