Berkshire Hathaway annual meeting

[knucklehead 61]

I am thinking about traveling to the BK shareholders meeting in Omaha to see the Oracle & poor Charlie in person. Anyone else here ever go to one of these? I have read about them & they seem like a fun event. probably will cost a couple grand to go (which i could save & buy more BRK-B shares with instead) but it would be an exciting trip.

[cardude]

I have been a few times. If you have never been before it is definitely worth it.

The meeting has grown so large the last few years it has gotten really hard to get a room that doesn't cost a ridiculous amount, so I quit going. You better start looking for a room soon!

[donheff]

OK guys, I just don't get it. How could this be exciting?

[deserat]

Actually, if you read his annual letter, he tells people to stay in Kansas City, MO, and drive up to save money and hassle in Omaha. It's about a 2 hour drive. The last few pages of the letter showcase all of the festivities - looks like it would be cool to go at least once.

[cardude]

Quote:

Originally Posted by deserat Actually, if you read his annual letter, he tells people to stay in Kansas City, MO, and drive up to save money and hassle in Omaha. It's about a 2 hour drive. The last few pages of the letter showcase all of the festivities - looks like it would be cool to go at least once.

Yeah, I forgot that the last meeting I went to with some buddies we flew into KC and drove into Omaha. Couldn't get a flight into Omaha. We did say in Omaha however.

The meeting really is quite a spectacle. At the last one I went to there was a full sized Clayton modular home on display INSIDE the Quest center, in additioin to RVs and all the other products Berkshire sells. Another cool thing is you will see tons of suits (money managers, etc.) sitting right next to regular mom and pop investors.

Go. It's a cool event if you are interested in Berkshire and the Berkshire value culture.

[clifp]

I've thought attending several times. I haven't been able to coordinate going to Omaha with any other activity on the west coast. That said if there was a group of ER folks who were attending I would definitely plan on going although I think this year may already be to late.

[Nords]

Quote:

Originally Posted by knucklehead 61 I am thinking about traveling to the BK shareholders meeting in Omaha to see the Oracle & poor Charlie in person. Anyone else here ever go to one of these? I have read about them & they seem like a fun event. probably will cost a couple grand to go (which i could save & buy more BRK-B shares with instead) but it would be an exciting trip.

You might want to read Jeff Matthews' "Pilgrimage to Warren Buffett's Omaha" and decide if it's worth even higher prices & bigger crowds:
Amazon.com: Pilgrimage to Warren Buffett's Omaha: A Hedge Fund Manager's Dispatches from Inside the Berkshire Hathaway Annual Meeting (9780071601979): Jeff Matthews: Books

Here's some other commentary from Alice Schroeder, who admittedly could be accused of grinding her axe but who still can tell when a meeting is losing its value:
Tab for 2011 Berkshire Meeting | Alice Schroeder: The Official Website
Shareholder Meeting Has Taken on Bubble Qualities | Alice Schroeder: The Official Website

But personally I'd rather read about popular events or watch their videos afterwards rather than be part of the scrum.

[clifp]

Ok Alice's post has cured me of my desire to go. I am too much of a value investor, and too LBYM to actually enjoy an event if I think know I am being ripped off.

Berkshire has operations around the world, I think it would nice if they took the show on the road every once in a while. Most Fortune 50 companies do.

[Htown Harry]

Quote:

Originally Posted by clifp Berkshire has operations around the world, I think it would nice if they took the show on the road every once in a while.

Quick, buy a car in India...

Berkshire Dangles $48 Auto Policies to Meet Buffett in India - Bloomberg

[clifp]

Quote:

Originally Posted by Htown Harry Quick, buy a car in India... Berkshire Dangles $48 Auto Policies to Meet Buffett in India - Bloomberg

I can buy a Tata Motors Indica for a bit over $6,000
Airfare to India is $1,900
Hotels are really cheap from $40 for a 3 star to $150 for 5 star hotel.

Plus $48 for the policy.

It is tempting, plus I still have a car in India afterward and can start a taxi service or something.

[nvestysly]

... but where else can you spend nearly six hours gleaning information from Charlie Munger and Warren Buffett? Yes, you have to put up with some inane questions from the audience - people asking how their above average children (aren't they all abover average? they are in Lake Wobegon) should proceed in life. But I've walked away from our two previous visits having learned something.

DW and I are attending again this year. This will be our third time (2007, 2009 and now 2011). So we make a vacation out of it. Yes, a vacation! Omaha is an interesting city (we're easily amused and can find fun almost anywhere). This time we're staying in a B&B in town. The last two times we saved on accomodations and don't want to do that again.

Boys Town is an interesting visit. As are the botanical gardens, driving to Lincoln to see the capital and the University of Nebraska. This time we plan to see a museum or two and spend time in/around downtown Omaha.

I suggest avoiding the Friday evening gathering at Borhshiem's although that's where we nearly bumped into and spilled drinks with Bill Gates. The Saturday evening event and the Sunday event are a little more tame but still very crowded.

On Saturday I plan to find a suitable seat at 7:00 AM, watch the movie at 8:30, listen to the Q&A until 3:30 then take a quick trip around the display area.

After that we'll be in vacation mode.

We're flying into Kansas City and renting a car. Airline tickets were purchased with frequent flyer miles. Total should be right at $1k (out of pocket) for a very enjoyable long weekend.

[nvestysly]

We're in Omaha. Meeting is tomorrow AM. I'm guessing there will be lots of talk about Librizol & Sokol