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.
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