In the wake of his latest controversial vote regarding Coca-Cola Co's executive pay as well as the dismal performance recorded at the BNSF railroad unit, Warren Buffett defended his decisions as investors cornered him during the annual stockholder's meeting in his Berkshire Hathaway Inc corporation last Saturday.

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The American investment magnate was bombarded with numerous questions during the assembly, which he referred to as the "Woodstock for Capitalists" because of its festive mood, after the growing concerns about Berkshire missing the five-year growth target mark last year. It was the first time that Buffett missed a growth target in his 49 years of leading the company.

With Vice Chairman Charlie Munger, the 83 year old business mogul faced the audience and selected members of a panel who express their concerns at the state of the expansive corporation in an arena located at the downtown Omaha.

Buffett stated that Berkshire is intended to work best when the market is in a worst state, not like during the time when Standard & Poor 500 increased 30 percent back in 2013.

The audience immediately questioned the decision made by Berkshire to give up the shareholder vote on the equity compensation plan of Coca-Cola for its executives, despite the fact that Buffett believed that the notorious plan was unnecessary.

That shocker ignited a strong criticism in the business world, especially since Buffett used to view some options as inefficient during the past.

According to Buffett, the decision of Berkshire to abstain sent a very clear message to Coca-Cola that plan was not a good concept in the majority of situations. He also believed that the best outcome for the Coca-Cola Company was already accomplished by his decision to abstain from voting.

The annual meeting between the top capitalists was attended by thousands of business leaders.