From the analyst panel comes a request for more information on the performance of Precision Castparts, an aerospace parts manufacturing company Berkshire agreed to buy in 2015 for more than $30 billion.
Mr. Buffett says the results in airplane manufacturing can be pretty variable, but that it's a great business over time. He sings the company's praises, saying the company's reliability and reputation are excellent.
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Mr. Munger weighs in to say that it's a good business, but Berkshire didn't snap it up on the cheap. "This is no screaming bargain like the old days," he says. Mr. Buffett agrees, saying that its hard to find bargains.
Click here to see the full live coverage of Warren Buffett at Berkshire Hathaway's annual meeting:
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(END) Dow Jones Newswires
May 06, 2017 13:36 ET (17:36 GMT)