Buffett Stirs Up Annual Meeting
Berkshire Hathaway Chairman and CEO Warren Buffett, right, and his Vice Charman Charlie Munger are seen on a giant screen during the Berkshire Hathaway shareholders meeting in Omaha, Neb., Friday, May 3, 2013. Tens of thousands attend Berkshire Hathaway shareholder meeting to hear Warren Buffett and Charlie Munger answer questions for more than six hours. No other annual meeting can rival Berkshire's, which is known for its size, the straight talk Buffett and Munger offer and the sales records shareholders set while buying Berkshire products. (AP Photo/Nati Harnik)
Omaha, Neb. — Part rock concert, part investment workshop, the annual gathering of Berkshire Hathaway shareholders is an odd mix.
But that’s just how the faithful crowd of more than 30,000 who attended yesterday’s version likes it.
Getting the chance to learn about business and life from Berkshire CEO Warren Buffett and spend the day with like-minded investors made it worthwhile to brave yesterday’s cool, rainy weather in Omaha, Nebraska.
The level of appreciation shareholders have for Buffett becomes clear as he tours the meeting’s 200,000-square-foot exhibit hall each year.
Admirers held their cell phones and iPads in the air as they surrounded the billionaire yesterday morning. A pack of security guards created a buffer around Buffett as he visited displays selling Berkshire’s See’s Candy, explained BNSF railroad’s virtues and highlighted some of the company’s other 80-plus subsidiaries.
Josh Miller, 11, of Maple Grove, Minn., couldn’t see over the throng of people, reporters and cameras that moved through the exhibition floor crowd. But he knew who was at the center.
“Warren! Warren!” he called, holding up his iPad to get a shot of the Oracle of Omaha.
At the See’s booth, Buffett got a lesson in making hand-dipped bonbons. Then See’s manufacturing manager Steve Powell got Buffett to autograph his white uniform coat.
The Berkshire Hathaway annual meeting began humbly in 1982 with a crowd of 15 in an insurance company cafeteria. It has been growing steadily just as the company’s stock price rose to become the most-expensive in the U.S., reaching $162,904 for a Class A share on Friday.
Now the meeting regularly fills Omaha’s 18,300-seat arena and every nearby overflow room. Buffett likes to call it “Woodstock for capitalists.”