I promised myself I would not write another column featuring Warren Buffett, but on Saturday night I sat through the Berkshire Hathaway annual shareholders’ meeting for the 16th consecutive year.

Admittedly, for the past eight years, I have attended virtually, and though I miss eating a burger at Gorat’s and sipping a Budweiser, cruising down the Missouri River with Kokkie Kooyman and other SA attendees, I still get an immense thrill listening to Buffett and Charlie Munger share their investment thinking and life experiences with the 40,000-audience crammed into the CHI Health Center Arena in Omaha...