{"id":4870,"date":"2023-05-06T00:48:55","date_gmt":"2023-05-06T04:48:55","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/what-berkshire-stockholders-are-saying-and-buying-at-the-annual-meeting\/"},"modified":"2023-05-06T00:48:56","modified_gmt":"2023-05-06T04:48:56","slug":"what-berkshire-stockholders-are-saying-and-buying-at-the-annual-meeting","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=4870","title":{"rendered":"What Berkshire Stockholders Are Saying, and Buying, at the Annual Meeting"},"content":{"rendered":"
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OMAHA, Neb.\u2014Some 30,000 Warren Buffett fans and
\n Berkshire Hathaway
\n shareholders have descended on Omaha for the annual ritual often called the \u201cWoodstock for Capitalists.\u201d <\/p>\n

The weekend kicked off with a Shareholder Shopping Day on Friday, with many of Berkshire\u2019s (tickers: BRK.A, BRK.B) dozens of subsidiaries showing off their wares in an enormous hall at the CHI Health Center. The main event on Saturday is the annual meeting itself and hours of questions for Buffett and his partner Charlie Munger, plus vice chairmen Greg Abel and Ajit Jain.<\/p>\n

\n

Shareholders browsed, shopped, and thought about what to ask. <\/p>\n

Exhibits showed off limited-edition T-shirts from Fruit of the Loom, $1 Dilly Bars from Dairy Queen, home-and-auto insurance packages from Geico, Buffett-themed running shoes from Brooks, chocolates and nuts from See\u2019s Candies, jewelry from Borsheims, and plenty more. Much of it was available for discounted prices. <\/p>\n

Also on display were a full-size fuselage of a midrange private jet from NetJets, model homes from Clayton, and an elaborate model train set from BNSF.<\/p>\n

Sander and Adrian, employees at a wealth management firm who came from Norway to attend, chowed down on DQ burgers, drank
\n Coca-Cola,<\/span>
\n and filled heaping bags with T-shirts, hats, and other memorabilia. They were most interested in what Buffett, 92, and Munger, 99, have to say about the economic outlook and the implications of the turmoil in banking this year.<\/p>\n

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Jeremy and Komal drove for 12 hours from Detroit to attend their first meeting. Their Shopping Day haul included bags full of Squishmallows\u2014the viral plush toy sensation that Berkshire acquired last year via its $11.6 billion purchase of insurer Alleghany.\u00a0<\/p>\n

Jazwares, the manufacturer behind Squishmallows, had been a wholly owned subsidiary of Alleghany. It was selling Buffett and Munger versions of the toy, with a limit of two per person. <\/p>\n

Mike and Corinne of Milwaukee, who heard about the Berkshire annual shareholder meeting on a personal finance podcast about a year ago, sprung for a few B shares to qualify for a credential to attend the meeting. It was more fun than expected, and a good excuse for a weekend away from their children, they said.<\/p>\n

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There were plenty of veteran meeting attendees as well. Joe and Lois, from Lincoln, Neb., were at their 15th meeting. Buffett\u2019s advice hasn\u2019t changed much over the years even as the meeting attendance has grown significantly, but his wisdom is just as relevant today, they said.<\/p>\n

\u201cIt\u2019s the soundest business advice I\u2019ve heard,\u201d Joe said. \u201cDon\u2019t invest in things you don\u2019t understand.\u201d<\/p>\n

\u201cKeep focused on the long term,\u201d Lois said. \u201cThat\u2019s just financial common sense.\u201d<\/p>\n

Buffett has long been a fixture in the Nebraska community, Joe said. \u201cMy dad knew Mr. Buffett and his father from the grocery business, back when he was just another Omaha businessman,\u201d he said. Howard Buffett\u2014Warren\u2019s father\u2014briefly worked at the Buffett family\u2019s grocery store in Omaha before entering the investment business and later serving as a U.S. Representative for the state.<\/p>\n

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Debie and Lynn met decades ago at a dog show. For the past 10 years, they have been traveling from Texas and Colorado, respectively, to reunite in Omaha at the shareholder meeting. <\/p>\n

Debie was interested in hearing Buffett\u2019s take on recent railroad derailments in the U.S., and what BNSF was doing to make its operations safer. <\/p>\n

The biggest lesson she\u2019s learned from Buffett over the years: \u201cDon\u2019t panic when stocks dip,\u201d Debie said. \u201cIt\u2019s a chance to buy more.\u201d<\/p>\n

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Brandon, a finance professor at the University of Mississippi, runs a student investment club where he espouses Buffett\u2019s style of value investing. \u201cLong-term investing isn\u2019t always that fun,\u201d he said. \u201cYou need to teach discipline and patience to avoid behavioral biases.\u201d<\/p>\n

A few students from Brandon\u2019s student investment club were in attendance as well, having traveled to Omaha on their own dime. Melissa, also a finance professor\u2014at Creighton, in Omaha\u2014has been attending the shareholder meeting for 12 years. She also teaches the Buffett approach to investing. \u201cYou need a good margin of safety, and don\u2019t try to time the market,\u201d she says.<\/p>\n

Several of Melissa\u2019s students were also attending the meeting to hear from Buffett on Saturday. \u201cThey just think he\u2019s awesome,\u201d she said.<\/p>\n

Write to Nicholas Jasinski at nicholas.jasinski@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

OMAHA, Neb.\u2014Some 30,000 Warren Buffett fans and Berkshire Hathaway shareholders have descended on Omaha for the annual ritual often called the \u201cWoodstock for Capitalists.\u201d The weekend kicked off with a Shareholder Shopping Day on Friday, with many of Berkshire\u2019s (tickers: BRK.A, BRK.B) dozens of subsidiaries showing off their wares in an enormous hall at the […]<\/p>\n","protected":false},"author":1,"featured_media":4871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-4870","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nWhat Berkshire Stockholders Are Saying, and Buying, at the Annual Meeting | iFintechWorld<\/title>\n<meta name=\"description\" content=\"OMAHA, Neb.\u2014Some 30,000 Warren Buffett fans and Berkshire Hathaway 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