Buffett and Munger's problem with value investing

Every year, on a Saturday early in May, the annual shareholders' meeting of the Berkshire Hathaway Corporation is held in the American city of Omaha. Shareholders' meetings (AGM is the Indian term) tend to be dull affairs unless there's some sort of a corporate struggle going on, and even then, are of concern only to shareholders themselves. In contrast, the Berkshire meeting is always interesting and fascinating, not just to those who have invested in the company, but also to practically every investor in the world. The reason, of course, is the hours-long Q&A session with the two men who run the company--Chairman Warren Buffett and his deputy Charlie Munger. Buffett and Munger, whose combined age is now 183. The questions are selected by a panel of well-known external experts and are not known beforehand to Buffett and Munger.