Buffett Watch

Berkshire Hathaway's annual meeting: The highlights

Charlie Munger, left, and Warren Buffett
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Berkshire Hathaway held its annual shareholders meeting on Saturday, and attendees listened closely to Chairman and CEO Warren Buffett and Vice-Chairman Charlie Munger at what observers call "Woodstock for Capitalism."

Here are some of the best quotes and highlights of the day:

Buffett on health effects of Coke:

I really wish I had a twin that had eaten broccoli his entire life. ... I know I would have been happier and I think the odds are I would have lived longer. ... I think Coca-Cola is a marvelous product."

Buffett on Amazon:

"We're not going to out- Bezos Bezos."

Buffett on Wall Street:

There is "far more money made by people in Wall Street through salesmanship abilities rather than investment talent."

Munger on Coca-Cola:

"We ought to have a law ... where these people shouldn't be allowed to cite the defects without citing the advantage. It's immature and stupid."

Buffett on Sequoia's investment in Valeant:

"[It's] a very unfortunate period where a manager got overly entranced with a business."

Munger on economics:

"Micro-economics is what we do and macro-economics is what we put up with."

Buffett on knowing one's limits:

It's important to know what you can't do. We try to take swings in our own strike zone. "It doesn't take a genius to do it, but we've generally managed to avoid self-destructive behavior."

For more on Berkshire Hathaway's annual meeting, see below: