Warren Buffett answers a BP inquiry posed by Mindy Jensen

Professional · Jersey City, NJ · Member since 2014 · 154 posts · 87 votes

Congratulations to Mindy Jensen and BP on the questions you posed to Warren Buffett and Charlie Munger at the Berkshire Hathaway Annual Investor Conference today.

Nice to hear Mr. Buffett's views on real estate in 2016 compared to his comments made on CNBC to Becky Quick in 2012.

Great profile for BP, too.

Nicely done!

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Mindy JensenPro Member

BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes

10y

Thanks @Jonathan Cope. I'm hoping to have video soon.

(Yes, I was a little nervous...) I've been to the Annual meeting several times previous, but never asked a question. It was a great experience, and now I'm pretty sure Warren and I are best friends!

He is such a wealth of information, and I got an "I have nothing to add" from Charlie, which is just about perfect!

[email protected]Podcast Guest on Show #261

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Jonathan Cope
OP
Professional · Jersey City, NJ · Member since 2014 · 154 posts · 87 votes
10y
@Mindy Jensen @Joshua D. @Brandon Turner
Should have tagged you all originally.
Little value in not making you all aware of praise worthy posts.
Congratulations again.
3 Reply
Joshua D.Pro Member
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
10y
That was pretty awesome, huh, @Jonathan Cope. Nice work from @Mindy Jensen with an awesome plug for BP!
Podcast Guest on Show #100
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Jonathan Cope
OP
Professional · Jersey City, NJ · Member since 2014 · 154 posts · 87 votes
10y
Beyond awesome, really.
@Joshua D. it was the merging of two of my favorite sources of valuable investment perspective, Berkshire Hathaway and BP.
It really made my day.
Well done. Well hacked.
@Mindy Jensen stepped to the mic with her BP t-shirt and poise, and did you all proud. (That must have been a nerve wracking moment.)
We all look forward to learning the back story on an upcoming podcast.
No doubt it was no easy feat to be one of only a very few audience questions amongst 40,000 attendees.
Hopefully CNBC and YahooFinance take note and give you all your due.
@Brandon Turner
2 Reply
Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
10y
Thanks @Jonathan Cope. I'm hoping to have video soon.
(Yes, I was a little nervous...) I've been to the Annual meeting several times previous, but never asked a question. It was a great experience, and now I'm pretty sure Warren and I are best friends!
He is such a wealth of information, and I got an "I have nothing to add" from Charlie, which is just about perfect!
[email protected]Podcast Guest on Show #261
11 Reply
Christian Sifuentes
Flipper/Rehabber · Fair Lawn NJ · Member since 2016 · 382 posts · 87 votes
10y
Mindy Jensen congrats! Warren Buffet is an American Icon!
0 Reply
Jerry W.Pro Member
Moderator
Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
10y
@Mindy Jensen, tell us what he said please!
0 Reply
Jonathan Cope
OP
Professional · Jersey City, NJ · Member since 2014 · 154 posts · 87 votes
10y
@Mindy Jensen you did a superb job on such a stage. Well done. I look forward to seeing the video. Nice job winning Warren as a new best friend.
Charlie Munger is one of my heroes. (A colleague once gave me a t-shirt I now proudly wear that reads, 'The Next Charlie Munger'.)
Receiving a 'I have nothing to add' is a great testament to the quality of the question and Warren's response. Particularly given that Charlie has a real affinity for real estate and its design and development.
It was nice to hear that Warren does not see evidence of a real estate bubble on the whole. His view is one likely supported by much data given Berkshire's significant holdings of residential real estate brokerages.
@josh dorkin
@brandon turner
@jerry w.
@adam Goldberg
1 Reply
Jonathan Cope
OP
Professional · Jersey City, NJ · Member since 2014 · 154 posts · 87 votes
10y
@Mindy Jensen you did a superb job on such a stage. Well done. I look forward to seeing the video. Nice job winning Warren as a new best friend.
Charlie Munger is one of my heroes. (A colleague once gave me a t-shirt I now proudly wear that reads, 'The Next Charlie Munger'.)
Receiving a 'I have nothing to add' is a great testament to the quality of the question and Warren's response. Particularly given that Charlie has a real affinity for real estate and its design and development.
It was nice to hear that Warren does not see evidence of a real estate bubble on the whole. His view is one likely supported by much data given Berkshire's significant holdings of residential real estate brokerages.
@Joshua D. @Brandon Turner
1 Reply
Hersh M.
Engineer · Carlsbad/San Diego · Member since 2014 · 285 posts · 97 votes
10y
Great Job @Mindy Jensen ! Must be quite an experience.
@Jonathan Cope @Jerry W. Here is the news article that Mindy wrote - https://www.biggerpockets.com/renewsblog/2016/04/30/warren-buffett-told-real-estate-great-news-investors/
3 Reply
Jon S.Pro Member
Investor · Tampa, FL · Member since 2015 · 530 posts · 92 votes
10y
Congrats and thank you to Mindy Jensen ! I look forward to reading the whole story about this interaction with Warren Buffet!! And congrats to BP!!
1 Reply
Jim Adrian
Architect · Papillion, NE · Member since 2015 · 1k+ posts · 840 votes
10y
Welcome to Omaha and sorry for all rain! The convention is great and every time I've been its a different experience, even today. This is bucket list worthy.
2 Reply
Chris Sukala
Rockford, IL · Member since 2015 · 343 posts · 95 votes
10y
Mindy Jensen please do tell.
1 Reply
John CasmonPro Member
Cincinnati, OH · Member since 2013 · 1k+ posts · 1k+ votes
10y
@Mindy Jensen That's awesome! Thanks for asking the question and publishing the article. Good to hear from the most famed investor on the current state. Sounded like the answer was specific to single-family housing. Was there any discussion on multi-family or other real estate sectors?
1 Reply
Matt R.
Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
10y
Originally posted by @Mindy Jensen:

Thanks @Jonathan Cope. I'm hoping to have video soon.
(Yes, I was a little nervous...) I've been to the Annual meeting several times previous, but never asked a question. It was a great experience, and now I'm pretty sure Warren and I are best friends!
He is such a wealth of information, and I got an "I have nothing to add" from Charlie, which is just about perfect!
That was most impressive! And he really knows what is up. This would also coincide with UCLA forecasters. Way to go!
0 Reply
Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
10y
@John Casmon, he did mention that he is seeing real estate selling for such low cap rates that it doesn't make sense to him. But my question was more geared toward residential real estate, so I think that's what he was answering.
@Chris Sukala, I can't wait to see the video, because I was a little nervous and didn't hear everything he said. So glad it was recorded...
[email protected]Podcast Guest on Show #261
1 Reply
Bill Regan
Investor · Baltimore, MD · Member since 2015 · 160 posts · 76 votes
10y
That's great to hear from Mr. Buffett! Way to represent BP!
0 Reply
Aleksandar Popivoda
Investor · NW Indiana · Member since 2015 · 98 posts · 99 votes
10y
I am really glad to hear that Bigger Pockets had this type of exposure. I have always admired Mr Buffet as an ultimate source of wisdom when it comes to investing and finance. His Berkshire Hathaway Annual Shareholders Letters, that are available to public for free, are the best MBA education that you can get.
1 Reply
Nick Stoddard
Investor · Overland Park, KS · Member since 2015 · 50 posts · 13 votes
10y
awesome @Mindy Jensen!
0 Reply
John CasmonPro Member
Cincinnati, OH · Member since 2013 · 1k+ posts · 1k+ votes
10y
Thanks for clarifying @Mindy Jensen. Congrats again on representing BP and getting answers from the brightest investing mind for the rest of us here!
0 Reply
Miguel Romero
Las Cruces, NM · Member since 2016 · 28 posts · 3 votes
10y
@Mindy Jensen I am sorry to be the ignorant one in the room but what does "low cap rates" mean?
0 Reply
Matthew Swisshelm
Bellevue, NE · Member since 2015 · 134 posts · 28 votes
10y
@Miguel Romero
https://www.biggerpockets.com/renewsblog/2011/11/1...
Here Miquel, this should give you a good idea of what a low cap rate is.
0 Reply
Account Closed
Rental Property Investor · Austin, TX · Member since 2013 · 118 posts · 98 votes
8y
Ha - I was just watching a replay of the 2016 meeting, was a nice surprise to see BP represented (had no idea @Mindy Jensen was in it)
If anyone wants to see the question and buffet's response, go to youtube and search the below, then go to 4:41:31
"Warren Buffett & Charlie Munger Full Q&A - Berkshire Hathaway 2016 Annual Shareholders Meeting"
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