At the investor festival in Omaha: ‘See Buffett again before it’s too late’

The Berkshire Hathaway shareholder meeting in Omaha is the annual high mass of American popular capitalism. With super investor Warren Buffett in the role of high priest.

Berkshire Hathaway’s annual shareholder meeting has started and you can follow it in the live blog of our on-site reporter, Evert Nerinckx. There was already an enthusiastic bustle the day before around the conference center in Omaha where Berkshire Hathaway, Warren Buffett’s investment vehicle, is organizing its annual shareholder meeting on Saturday.

On the sidelines of the general meeting, a whole series of conferences and lectures will take place in Omaha where investors from all over the world can meet each other in a relaxed atmosphere and gain fresh inspiration. That explains why Berkshire Hathaway’s annual meeting is called ‘the Woodstock of capitalism’.

That also includes a good dose of consumerism. On Friday, the day before the general meeting, the Berkshire shareholders present in Omaha will have the opportunity to stock up on all kinds of products from the Buffett empire at a special ‘shareholder discount’.

Batteries from Duracell, running shoes from Brooks, new car insurance from Geico or candy from See’s Candies: you can find it all in the exhibition hall where Berkshire Hathaway is located. And it’s all for sale. The sweets from See’s Candies – an integral part of the Berkshire portfolio since 1972 – are particularly popular.

Shareholder Puneet Bansal (46) also loads a heavy load of Buffett chocolate. “For my daughters,” says Bansal, who came all the way from Delhi to attend the general meeting this year. The Indian appears to be a hardcore fan of Warren Buffett. ‘I’ve read and studied just about everything about him. Buffett not only provides financial advice, you can also use his philosophy in everyday life. I agree with his message that a person must also invest in himself.’

Bansal has owned ‘a large chunk’ of Berkshire shares for over ten years, to his great satisfaction. ‘I used to always buy and sell everything at the stock exchange. Buffett taught me that’s not necessary. I came to Omaha for the first time this year because I want to see the grandmaster again before it’s too late.’

The now 93-year-old Warren Buffett is, as always, the headliner at the annual high mass of American popular capitalism. Over seventy years, he built Berkshire Hathaway into the largest industrial and financial conglomerate in the world, with a market value of approximately $860 billion. Buffett himself still owns about 15 percent of the shares.

Every year, the super investor takes the time to answer shareholders’ questions. The question of how long he plans to remain CEO has been a regular topic for years, but has become even more prominent after the death of his long-standing business partner Charlie Munger earlier this year.

Omaha is buzzing with rumors that Buffett plans to announce his retirement soon. But not without first paying tribute to Munger at the shareholders’ meeting, whom Buffett calls the architect of Berkshire. As a tribute, the conglomerate is also presenting a new book about Munger, a collection of his greatest business and personal wisdom. On sale for $25.