Warren Buffett's Five Minute Test (You Can Do It Too) (1997 Q32 am)

Warren Buffett and Charlie Munger answer a question at the 1997 Berkshire Hathaway annual meeting. Buffett discusses how he can size up a company in five minutes, and how anyone can do it. He goes on to make some very important observations about Berkshire's acquisition practices, which don't include the things most "typical" acquisitions include, such as checking leases, titles, etc. Looking to find more great businesses to add to your watchlist? Check out http://www.watchlistinvesting.com http://www.theoraclesclassroom.com #berkshirehathaway #warrenbuffett #circleofcompetence