Warren Buffett and Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) recently received a fair amount of flack for not voting against the proposed executive compensation plan at Coca-Cola. This past Saturday, Buffett opened up about the situation and told investors why he chose not to fight this particular fight.

In the following video, Motley Fool analysts Matt Koppenheffer and David Hanson discuss the lessons they learned from Warren Buffett while attending the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska. During the meeting, Warren Buffett and his business partner, Charlie Munger, took questions from shareholders for nearly 6 hours and provide their thoughts on everything from investing, corporate governance, and personal success. The discussion around Coca-Cola was particularly interesting because Buffett's son, Howard, is on the Coca-Cola board of directors and voted in favor of the plan. Matt and David breakdown why Buffett inaction wasn't very "un-Buffett-like" after all -- Buffett surveyed the situation and realized the battle wasn't worth hurting a long-term relationship.

David Hanson and Matt Koppenheffer own shares of Berkshire Hathaway. The Motley Fool recommends Berkshire Hathaway and Coca-Cola. The Motley Fool owns shares of Berkshire Hathaway and Coca-Cola and has the following options: long January 2016 $37 calls on Coca-Cola and short January 2016 $37 puts on Coca-Cola. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.