Berkshire Hathaway AGM - Warren. Buffett

davidw89

davidw89

Hey guys,

I really, really want to go to the annual meeting for Berkshire Hathaway this year, i've never been before but i'm a big fan of Warren Buffett and would love to come along. I'm in the process of acquiring some class C shares so i can get tickets. Would anyone happen to know anyone from Australia, preferably Sydney, who's attending? I would like to tag along if possible. Only issue is that the hotel rooms are probably all booked out by now and i'm not sure if it's going to be too late to go =-(.

Any ideas?
Thanks
David
 
davidw89 said:
Oh but this isn't just any annual meeting...it's so much more.
Click to expand...

The barefoot guy should be there, maybe Peter Spann?

Would be great to go :D

I've heard of B but didn't even know there were C Class shares though :confused:

Isn't Buffett looking at a successor (or is that just others speculating?), anyhow who knows how much longer there will be to have the opportunity of seeing Wazza & Chuck live in action
 
Forget his massive business success.

Forget his prodigous history.

Forget his unparalleled eye for an investment.

.
.
.
.

I'm more impressed with his attitude as a real CEO. Someone who actually cares about the company that he built, someone who is in complete control and is fully over his business detail without having the need for all the spin, all the half truths and all of the staged answers. It's so refreshing to listen to a real CEO.

He's able to tell the honest raw truth because his subject knowledge is impeccable and he doesn't have to impress anyone. No one lords it over him. He always starts off by saying "Management have had a good year, as they have done since they took over the business in 1956." Now there is some integrity and heavyweight authority.

He's got outstanding lieutenants who've been with him for many decades and all got rich by the same method, increasing share price rather than skimming profits off in the form of outrageous salaries. The perfect way to endear loyalty amongst employees. They've never tried to stab him in the back.

The AGMs are so popular because you get to hear the man's opinion about why the "capital allocator" allocated the capital of the company in a certain way that year. When it rarely goes to custard, he says "I made a big mistake there with your money and I'm sorry. I will do better next time." ... and then he does. He has square shoulders, not slopey shoulders.

He doesn't milk the company for a huge salary, or bonus upon bonus. He'd be the only substantial CEO I know that doesn't negotiate with some renumeration committee to try and squeeze everything they can out of a company, represented by some wormy CEO headhunter.

Sitting there criticising younger slicker CEOs with his right hand man Charlie Monger by his side saying things like "You can't teach new dogs old tricks." are just classic.

The man is a legend.
 
Dazz said:
Forget his massive business success.

Forget his prodigous history.

Forget his unparalleled eye for an investment.

.
.
.
.

I'm more impressed with his attitude as a real CEO. Someone who actually cares about the company that he built, someone who is in complete control and is fully over his business detail without having the need for all the spin, all the half truths and all of the staged answers. It's so refreshing to listen to a real CEO.

He's able to tell the honest raw truth because his subject knowledge is impeccable and he doesn't have to impress anyone. No one lords it over him. He always starts off by saying "Management have had a good year, as they have done since they took over the business in 1956." Now there is some integrity and heavyweight authority.

He's got outstanding lieutenants who've been with him for many decades and all got rich by the same method, increasing share price rather than skimming profits off in the form of outrageous salaries. The perfect way to endear loyalty amongst employees. They've never tried to stab him in the back.

The AGMs are so popular because you get to hear the man's opinion about why the "capital allocator" allocated the capital of the company in a certain way that year. When it rarely goes to custard, he says "I made a big mistake there with your money and I'm sorry. I will do better next time." ... and then he does. He has square shoulders, not slopey shoulders.

He doesn't milk the company for a huge salary, or bonus upon bonus. He'd be the only substantial CEO I know that doesn't negotiate with some renumeration committee to try and squeeze everything they can out of a company, represented by some wormy CEO headhunter.

Sitting there criticising younger slicker CEOs with his right hand man Charlie Monger by his side saying things like "You can't teach new dogs old tricks." are just classic.

The man is a legend.
Click to expand...

I am reminded of the Gordon Gecko "greed is good" speech from Wall Street- criticizing management who have no stake in the company .

Wazza is a long term holder- not caring what the share price closes at on a day to set his annual bonus, not running in fear of temporay setbacks.

Regrettably old school and a dying breed.
 
Dazz said:
Forget his massive business success.

Forget his prodigous history.

Forget his unparalleled eye for an investment.

.
.
.
.

I'm more impressed with his attitude as a real CEO. Someone who actually cares about the company that he built, someone who is in complete control and is fully over his business detail without having the need for all the spin, all the half truths and all of the staged answers. It's so refreshing to listen to a real CEO.

He's able to tell the honest raw truth because his subject knowledge is impeccable and he doesn't have to impress anyone. No one lords it over him. He always starts off by saying "Management have had a good year, as they have done since they took over the business in 1956." Now there is some integrity and heavyweight authority.

He's got outstanding lieutenants who've been with him for many decades and all got rich by the same method, increasing share price rather than skimming profits off in the form of outrageous salaries. The perfect way to endear loyalty amongst employees. They've never tried to stab him in the back.

The AGMs are so popular because you get to hear the man's opinion about why the "capital allocator" allocated the capital of the company in a certain way that year. When it rarely goes to custard, he says "I made a big mistake there with your money and I'm sorry. I will do better next time." ... and then he does. He has square shoulders, not slopey shoulders.

He doesn't milk the company for a huge salary, or bonus upon bonus. He'd be the only substantial CEO I know that doesn't negotiate with some renumeration committee to try and squeeze everything they can out of a company, represented by some wormy CEO headhunter.

Sitting there criticising younger slicker CEOs with his right hand man Charlie Monger by his side saying things like "You can't teach new dogs old tricks." are just classic.

The man is a legend.
Click to expand...

I couldn't have articulated any of this better myself.
 
davidw89 said:
Hey guys,

I really, really want to go to the annual meeting for Berkshire Hathaway this year, i've never been before but i'm a big fan of Warren Buffett and would love to come along.
Click to expand...

Incidently, Warren Buffett's temperament is that of an Inspector Guardian

Introduction only:

The one word that best describes Inspectors is superdependable. Whether at home or at work, Inspectors are extraordinarily persevering and dutiful, particularly when it comes to keeping an eye on the people and products they are responsible for. In their quiet way, Inspectors see to it that rules are followed, laws are respected, and standards are upheld.

Inspectors (as much as ten percent of the general population) are the true guardians of institutions. They are patient with their work and with the procedures within an institution, although not always with the unauthorized behavior of some people in that institution. Responsible to the core, Inspectors like it when people know their duties, follow the guidelines, and operate within the rules.
Click to expand...

A blog of his temperament Can be found here

Excerpt only:

Trust Me

Who do you trust? Who can you trust these days?

Who will give you the honest truth? Who has good advice?

Are they the same person in your case?

Well, in this case, if you trusted this guy, you could have gone to the bank on his advice.

Banking Billions on his advice.

You wouldn’t have suspected it given the circumstances he was born into. He was born in the Dust Bowl of America during the Great Depression. However, he came to represent American business, done the right way. Invest in America. Slow and steady....
Click to expand...
 
I plan to go to an AGM within 3 years - but with the hotels/car hire etc... you need to book at least a year in advance.

Hiring a caravan to sleep is better than nothing though at short notice.

Has anyone got Charlie Munger's book "Poor Charlie's Almanack". You can buy it off the website for around $50 but shipping is like $200 so don't want to waste that much!
 
Warren Buffett

From the Barefoot guy about the BH AGM

If you run into PAPE , don't mention Investment Property though :D

Investing Secrets from Warren Buffett

Greetings from Omaha, Nebraska.

This is my fifth trip to the United States, but this time around it feels like I’m in Thailand, buying stuff from the poor locals with bulging wads of baht.

Case in point, dinner: An entree (a main meal in any other country), a steak as big as my head (customary when in cow country), a couple of Buds, and a taxi back to my hotel, all for less than $US50 … or $A45.

Yet the strength of the Aussie dollar is a reflection of America’s weakness – and don’t think these patriotic people don’t know it. It seems to be all people are talking about, spurred on last month when ratings agency Standard and Poor’s downgraded the outlook for the US from ‘stable’ to ‘negative’ (this from the firm that rated subprime ‘investment grade’).

Things are so bad in the US right now that Donald Trump is being taken (semi) seriously as a presidential hopeful. So thank God it’s time for the annual Berkshire Hathaway shareholders meeting, which is held far, far away from Wall Street.

The star attractions are straight-talking octogenarians Warren Buffett and his life-long investment partner, Charlie Munger, who dispensed their wit and wisdom to 30,000 of their faithful fans:

Cont...
Click to expand...
 
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