Berkshire, over the years

1985 About 250 people attend the  meeting at the Red Lion Inn. Buffett sips his favorite drink — a Pepsi — between answering questions. Stock price: $1,825 1986 Buffett tells shareholders at  Joslyn Art Museum that he doesn’t like faddish investments. “We’re not interested in the hula hoop.” Stock price: $2,650 1987 Buffett says he has a “sophisti cated acquisition policy. We wait for the phone to ring. . . . We had a few inquiries from Canada, but it’s unlikely we’ll buy anything outside the United States.” Stock price: $3,450 1988 Buffett says derivatives are a  negative influence on the market. “I like them less than you do,” Vice Chairman Charlie Munger…

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