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Warren Buffett and Charlie Munger are widely considered the best investors of our time. We always look forward to their year-end letter and annual meetings. This year's annual meeting, usually a love fest held in Omaha attended by thousands of shareowners, was instead streamed on the internet without anyone present. Charlie stayed home in California as he did not want to fly for obvious reasons.
The company's first quarter results reported before the meeting earlier in the day was an eye-opener as Berkshire (BRK.A) (BRK.B) took a $70 billion charge for investment and derivative contract