The woodstock of capitalism.. how I loved thee the first time I went. Second time around, not so much fun. Every year, the attendance record is broken. I believe this year, the crowd was over 35,000 people. Last year when I went, it was a new experience. I met best selling author Tim Ferriss, had Bill Gates walk right by me, and got a ton of free candy (they gave out all the candy you could grab because of their share in Mars and Wrigley last year). This year, the 7.5 hour drive to and from Omaha, Nebraska just didn’t seem as fun anymore. Here are some of the notes I remembered from the trip:
- “A bird in the hand is worth two in the bushes” -Buffet loved using this quote. Don’t be greedy. The money in your hand can be used to reinvest instead of trying to think of ways to make double that.
- When asked about about MBA education, Buffet responded that the two essentials courses to take would be how to value a company and a class on efficient markets.
- When Wells Fargo was down around $9/share, Buffet told a visiting MBA class that if he were to invest all his net worth into one stock, that would be it. Today, it’s around $23.
- Buffet had very high praise for the Jamie Dimon’s letter to shareholders. I have included a link for the lazy: http://investor.shareholder.com/jpmorganchase/annual.cfm
- When asked whether Warren Buffet himself was Berkshire’s competitive advantage, he responded that the culture and management he has instilled is the advantage. No company will be able to duplicate.
2009 Berkshire Meeting
Warren Buffet and Charlie Munger
2009 Berkshire Convention
Posted under Berkshire Hathaway
This post was written by Jay on May 5, 2009
