Summary Box: Berkshire's Buffett and Munger talk

AP News
Posted: May 01, 2011 8:16 PM
Summary Box: Berkshire's Buffett and Munger talk

CAPITALISTS' WOODSTOCK: Berkshire Hathaway's annual shareholders meeting attracted roughly 40,000 people to Omaha Saturday. Berkshire's CEO Warren Buffett and Vice Chairman Charlie Munger met with reporters Sunday, one day after the shareholder meeting.

DEFENDING DECISIONS: Buffett spent much of the weekend answering questions about former Berkshire executive David Sokol's questionable investment in a chemical company Berkshire is buying. Buffett said Sokol's actions were inexcusable and hard to understand.

OPTIMISTIC OUTLOOK: Buffett remains optimistic about the U.S. economy's slow recovery, but he is concerned that the sovereign debt problems in Europe could create problems for European banks.