Following Berkshire Hathaway’s annual shareholder meeting, Warren Buffett and Charlie Munger (later joined by Bill Gates) have a tradition of doing more than a few interviews. Here’s a snippet from their 07-May-2018 interview (video, transcript) with CNBC’s Becky Quick on “Squawk Box,”

But that’s the test. Would you like to own 100% of a company? If—if you’re gonna buy 5%—we’re not buying a stock when we buy Apple in our minds. We’re buying 5% of a business. We buy 100% of some businesses. And when they’re publicly held, we buy 5%. But we bring the same thinking to it.