The�Berkshire Hathaway� (NYSE: BRK-A ) (NYSE: BRK-B ) annual meeting is attended by throngs of Berkshire faithful. For some shareholders at the meeting, it's probably impossible for Berkshire CEO Warren Buffett to�ever be wrong in their eyes. If we're being realistic, though, Buffett does indeed have his slip-ups. As partner-in-crime Charlie Munger put it:
"Just because Warren thought something years ago doesn't make it a law of nature."
With that in mind, I rounded up the team of Fools who attended this year's Berkshire meeting to ask in what ways Buffett disappointed them during the meeting.
Brendan Mathews: Toward the end of the meeting, a shareholder asked about IBM's (NYSE: IBM ) moat. Warren basically sidestepped the question, saying he didn't understand IBM's moat as well as Coca-Cola's (NYSE: KO ) . According to Buffett, He likes IBM's financial policies and thinks it will do well, but he feels more conviction in Coca-Cola, Wrigley, Heinz (NYSE: HNZ ) , and Burlington Northern Santa Fe.
Top 10 Warren Buffett Companies To Own For 2014: Great Pacific International Inc(GPI.V)
Great Pacific International Inc., a junior oil and gas company, engages in the exploration and development of oil and gas properties. It holds interests in properties located in Alberta, Canada; and Texas, the United States. The company was incorporated in 1993 and is based in Ladner, Canada.
Top 10 Warren Buffett Companies To Own For 2014: Information Services Group Inc.(III)
Information Services Group, Inc. operates as a fact-based sourcing advisory company principally in the Americas, Europe, and the Asia Pacific. It provides strategic consulting, benchmarking and analytics, managed services, and research services with a focus on information technology, business process transformation, and enterprise resource planning. The company serves financial services, telecom, healthcare and pharmaceuticals, manufacturing, transportation and travel, and energy and utilities industries; and state and local governments and airport and transit authorities. Information Services Group, Inc. was founded in 2006 and is based in Stamford, Connecticut.
Best Dividend Stocks To Invest In Right Now: Pan Global Resources Inc. (PGZ.V)
Pan Global Resources Inc. engages in the acquisition, exploration, and development of mineral properties. It holds an option to acquire 51% interest in 2 lithium/potash/borate mineral prospects, known as Jadar West and Valjevo, in the Republic of Serbia; and an additional 7 licenses in the process of application in the Republic of Serbia and the Republic of Bosnia. The company was formerly known as Mosam Capital Corp. and changed its name to Pan Global Resources Inc. in December 2009. Pan Global Resources Inc. was incorporated in 2006 and is based in Vancouver, Canada.
Top 10 Warren Buffett Companies To Own For 2014: Blackrock Global (BOE)
BlackRock Global Opportunities Equity Trust is a closed ended equity mutual fund launched by BlackRock, Inc. The fund is managed by BlackRock Advisors, LLC. It invests in the public equity markets across the globe. The fund invests in the stocks of companies operating across diversified sectors. It primarily invests in all cap companies. The fund benchmarks the performance of its portfolio against the S&P Global Broad Market Index. BlackRock Global Opportunities Equity Trust was formed on May 31, 2005 and is domiciled in the United States.
Advisors' Opinion:- [By Robert Rapier]
Whiting Petroleum (WLL) is one of Continental's biggest competitors in the Bakken. Whiting is the second-largest oil producer in North Dakota, averaging 82,500 barrels of oil equivalent (BOE) of production in 2012, across more than 700,000 acres of leased land.
Top 10 Warren Buffett Companies To Own For 2014: Gems Tv Holdings Limited(AM3.SI)
Gems TV Holdings Limited does not have significant operations. Previously, it was engaged in the manufacturing and trading of jewellery, gemstones, handicrafts, carved collectibles, valuable metals, and other related products in Asia and the Americas. The company is based in George Town, the Cayman Islands.
Top 10 Warren Buffett Companies To Own For 2014: ANN Inc (ANN)
ANN INC., incorporated in 1988, through its wholly owned subsidiaries, is a specialty retailer of women�� apparel, shoes and accessories sold primarily under the Ann Taylor and LOFT brands. The Company�� Ann Taylor and LOFT brands offers a range of career and casual separates, dresses, tops, weekend wear, shoes and accessories. It offers updated past season sellers from the Ann Taylor and LOFT merchandise collections at its Ann Taylor Factory and LOFT Outlet stores, respectively, and the clients can also shop online at www.anntaylor.com and www.LOFT.com (together, Online Stores), or by phone at 1-800-DIAL-ANN and 1-888-LOFT-444. As of January 28, 2012, it operated 953 retail stores in 46 states, the District of Columbia and Puerto Rico, consisted of 280 Ann Taylor stores, 500 LOFT stores, 99 Ann Taylor Factory stores and 74 LOFT Outlet stores.
Substantially all of the Company�� merchandise is developed by its in-house product design and development teams, who design merchandise exclusively for the Company. A small percentage of its merchandise is purchased through branded vendors, which is selected to complement its in-house assortment. The Company sourced merchandise from approximately 138 manufacturers and vendors in 19 countries. Approximately 42% of its merchandise unit purchases originated in China, 13% in the Philippines, 14% in Indonesia, 14% in India, and 13% in Vietnam. The Company�� wholly owned subsidiary, AnnTaylor Distribution Services, Inc., owns its 256,000-square-foot distribution center located in Louisville, Kentucky. The distribution center is located on approximately 27 acres. Its merchandise is distributed to stores, including the Online Stores, through this facility.
An average Ann Taylor store is approximately 5,500 square feet in size. The Company operates two Ann Taylor flagship stores, one located in New York City and one located in Chicago. LOFT stores average approximately 5,800 square feet. The Company also operates one LOFT flagship store! on the ground floor of 7 Times Square, its corporate headquarters, in New York City. During the fiscal year ended January 28, 2012 (fiscal 2011), it opened 14 LOFT stores that averaged approximately 5,500 square feet. Ann Taylor Factory stores average approximately 7,100 square feet. LOFT Outlet stores average approximately 7,000 square feet. During fiscal 2011, its LOFT Outlet stores were 38 new stores that averaged approximately 7,600 square feet.
Top 10 Warren Buffett Companies To Own For 2014: Bridge Capital Holdings(BBNK)
Bridge Capital Holdings operates as the bank holding company for Bridge Bank, National Association that provides commercial and retail banking services to small and medium size commercial businesses, business professionals, and retail customers primarily in California. Its depository and corporate banking services comprise cash and treasury management solutions, interest-bearing term deposit accounts, checking accounts, ACH payment and wire solutions, fraud protection, remote deposit capture through Smart Deposit Express, courier services, and online banking. The company?s lending solutions include working capital lines of credit; structured finance (asset-based lending and factoring); small business administration loans; commercial real estate loans; energy project financing; growth capital loans; equipment financing; letters of credit; and corporate credit cards. In addition, it serves clients operating internationally through services, such as foreign exchange (FX paym ents and hedging); letters of credit; and export/import financing. The company operates two branch offices in the Silicon Valley region, as well as five loan production offices in San Francisco, Pleasanton, and Orange County, California; Dallas, Texas; and Reston, Virginia. Bridge Capital Holdings was founded in 2000 and is headquartered in San Jose, California.
Top 10 Warren Buffett Companies To Own For 2014: United Natural Foods Inc.(UNFI)
United Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, and specialty foods, as well as non-food products in the United States. It carries approximately 60,000 products, consisting of national brand, regional brand, private label, and master distribution products in 6 product categories: grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements, bulk and food service products, and personal care items. The company serves approximately 17,000 customer locations primarily located across the United States, which include independently owned natural products retailers, supernatural chains, conventional supermarkets, and food service centers. Its other distribution channels include international mass market chains and buying clubs. The company also owns and operates natural products retail stores. As of August 1, 2009, it had 13 natural products retail stores located primarily in Florida. In addition, the com pany engages in the international importing, roasting, packaging, and distribution of nuts, seeds, dried fruits, and snack items. It sells these items in bulk in its own packaged snack lines, EXPRESSnacks, Woodfield Farms, and Woodstock Farms, as well as through private label packaging arrangements. The company was founded in 1978 and is headquartered in Providence, Rhode Island.
Advisors' Opinion:- [By Paul Ausick]
Big Earnings Movers: Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ: ULTA) is up 17.3% at $117.49, after posting a new 52-week high of $118.27 today. United Natural Foods Inc. (NASDAQ: UNFI) is up 12.9% at $67.72 after posting a new 52-week high of $69.35 earlier.
Top 10 Warren Buffett Companies To Own For 2014: Auric Pacific Group Limited(A23.SI)
Auric Pacific Group Limited, an investment holding company, primarily engages in the distribution of fast moving consumer food and non-food products. It distributes commercial and fine wines, spirits, cosmetics, and health supplements. The company also involves in the manufacturing of food products, including bread and bakery products, butter and cheese, dairy spread and margarine, buns, and cream rolls, as well as frozen food products, such as frozen pizzas, garlic bread, pies, and pastries under the Sunshine, Top-One, SSC, and Buttercup brands. In addition, it involves in the management and operation of a chain of food courts under Food Junction, Food Culture, FJ Square, The Food Place, and Food Garden brand names, as well as operates cafe-bakeries, bakery corners, restaurants, and food courts and outlets. Further, the company engages in the providing catering and central kitchen production services; leasing residential and commercial properties; and investing in funds a nd quoted investment securities. It operates in Singapore, Malaysia, Indonesia, Thailand, Hong Kong, and the People's Republic of China. Auric Pacific Group Limited was incorporated in 1988 and is headquartered in Singapore.
Top 10 Warren Buffett Companies To Own For 2014: Allot Communications Ltd.(ALLT)
Allot Communications Ltd. engages in developing, selling, and marketing Internet protocol service optimization and revenue generation solutions in Europe, the Middle East, Africa, the Americas, Asia, and Oceania. Its solutions are used to create policies to monitor network applications, enforce quality of service policies that guarantee mission-critical application performance, mitigate security risks, and leverage network infrastructure investments. The company offers traffic management systems, including Service Gateway platform for broadband service control and optimization based on DPI; and NetEnforcer traffic management system that inspects, monitors, and controls network traffic by application and by user. Its network management application suites comprise NetXplorer that provides service providers and enterprise customers a view of traffic on the network; and Subscriber Management Platform, a system that helps service providers build an intelligent service network d esigned to deliver the quality of experience. The company also offers ServiceProtector, which ensures service continuity, and guards network integrity against known and unknown threats, as well as enables surgical mitigation through immediate identification of denial of service attacks, zero day attacks, worms, zombie, and botnets. In addition, it provides MediaSwift that caches and accelerates popular Internet video. The company markets and sells its products to carriers, mobile operators, cable operators, educational institutions, governments, and enterprises, as well as wireless, wireline, and satellite Internet service providers. It sells it products through distributors, resellers, OEMs, value added resellers, and system integrators, as well as through direct sales. The company was formerly known as Ariadne Ltd. and changed its name to Allot Communications Ltd. in September 1997. Allot Communications Ltd. was founded in 1996 and is based in Hod-Hasharon, Israel.
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