May

5

Blogging Buffettland

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There’s a mole in the Berkshire Hathaway Annual Meeting, and that lucky individual sent Bwog a few notes on the experience.

sdfs1. There is unlimited free top shelf open bar on the opening night cocktail reception. I must have finished a quarter bottle of Goose. Shit.

2. Warren Buffett is VERY proud of his Columbia affiliation — he made reference to it many times so far today and said his Columbia education (1951) and Columbia professor formed the basis of his investment philosophy.

3. Charlie Munger thinks ethanol and corn-based fuel is “the dumbest excuse of a business idea [he’s] ever heard.”

4. Prezbo needs to take a page or two from Buffett’s book on handling disruptive protests. The shareholder Q&A session was interrupted twice by a Native American group protesting the environmental effects of a Berkshire company. Buffett shut them down quietly and kindly.

5. Some smart-ass senior from Purdue decided to make an ass out of himself in asking Buffett and Bill Gates for a job. He got shot down.

6. Warren Buffett also runs the fastest ever meetings. CCSC oughta take a lesson or two. This just happened:

WB: “It’s now 3:00 and the meeting will come to order. I am Warren Buffett, Chairman and CEO of Berkshire Hathaway. This first item on the agenda is the reading and approval of the previous meeting.”

Walter Scott, Director: “Mr. Chairman, I motion that we dispense with the reading and approve the previous minutes.”

WB: “Do I hear a second? All right, there is a motion on the floor to approve previous minutes without reading them. We will vote by voice vote. All in favor?” *gestures to the audience*

27,000 shareholders: “AYEE!!!!”

WB: “All opposed?”

27,000 shareholders: *cricket*

WB:
“We now enter on the second item of the agenda: the reelection on Berkshire Hathaway directors. I have already introduced them. Votes tendered by proxy show 98% for, 2% against management’s recommended slate. Any objections or new nominations from shareholders present?”

27,000 shareholders: *silence*

WB:
“Directors are reelected. Congratulations.”

 

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21 Comments

  1. umm  

    the mole is tao tan.

  2. ...  

    i bet tao is one of those people who hold one share in BH just for the right to go to the party in omaha... i'm sure he's having the time of his life.

  3. yea but  

    does holding class B get you into that meeting?
    because if you need class As then even that one share could buy a house in most parts of america and lets just say i couldnt afford a share of class A

  4. oh also  

    can we have Warren Buffett for class day in 09? please please please?
    was he even approached for this year? if so why did he reject us (i know he wasnt asking for a free plane ride and a cushy hotel room...)

    • REJECTED

      he already dinged the class of 04. Tony Kushner (the #4 choice, who give a great, great speech, one of the best in recent memory) even referenced it in his speech.

      Class of '08: get THE TODD- Robert Maschio!

      Class Day is a recognition ceremony- there's nothing 'official about it'- you haven't graduated, you don't get diplomas (just class pins), etc. Get someone fun.

  5. ...  

    why class of '09? why not class of '08? :)

  6. BWOG

    didn't cover Zvinner cuz SEAS is TOO COOL FO Y'ALL

  7. Assapopoulos  

    The professor Mr. Buffett mentioned is Benjamin Graham, one of the most influential investment thinkers in history. If anyone is interested in investing, his book, "The Intelligent Investor," is definitely worth a look.

  8. everyone  

    always asks why Buffett hasn't written any books about investment. It's pretty much because Graham already wrote THE book on investing.
    I'm sure everyone know that here though what with Columbia=ibanker hatchery

  9. a look?  

    A look? That's an understatement if there ever was one!

  10. And oh ya...  

    Don't forget Security Analysis while you're at it...

  11. corporate

    Your correspondent has not been to many shareholder meetings. Buffett ain't all that fast with a gavel. He could take some lessons from Dave O'Reilly at Chevron.

  12. hes a CBS alum  

    not a CC alum

    • so?  

      who said anything about him being a CC alum?
      and if you mean the comment(s) about him being a class day speaker, the rule is that you need to have columbia affiliation, not necessarily CC i dont think.
      besides i'll take him for SEAS class day

  13. home  

    oh, nebraska. my sweet cornfields.

  14. alumni affaris

    Buffett's mentor (and the author of The Intelligent Investor), Benjamin Graham, graduated from Columbia College in 1914.

  15. tao tan  

    it's confirmed that it's tao tan.

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