curiousgirl's playground

Last weekend (May 5th-6th), I had the opportunity to attend the 2007 Annual Berkshire Hathaway Shareholder's Meeting in Omaha, Nebraska. (No, I'm not a shareholder, but a group of us were able to get tickets thanks to knowing people who were shareholders.) A quick summary:

• 27,000 attended the event from all over the world
• All the hotels/motels were completely booked. (We actually didn't have a place to stay Friday night so "camped out" at the Hilton across from Qwest Center.)
• Doors opened 7am Saturday morning, but lines started at 4:30am. Earliest person who arrived, Jerry Brunetti, arrived 8pm Friday evening.
• Then picture a stampede of people RUNNING for seats at 7am. (We got 3rd row center. Thanks to Theodore's amazing agility and speed!)
• "Berkstock" video highlights
  • "Woodstock"-style cartoon
  • Buffett vs. Cleveland Cavaliers' LeBron James
  • Buffett vs. 12-yr-old Ariel Hsing in table tennis
  • Tribute to "Berkshire Managers" to tune of "My Favorite Things" from Sound of Music
  • And, of course, various ads from Berkshire portfolio companies
• 5-6hr Q&A session with Buffett and Munger highlights
  • "I have nothing to say" and "I have nothing else to add" -- Charlie Munger (a man of few words...very concise)
  • Buffett: "Envy is the worst of the seven deadly sins...because you only feel worse. ...There are definite upsides to gluttony" [Buffett takes piece of See's peanut brittle from table] ..."and lets not get into lust."
  • Buffett (paraphrased): Always marry up. Find someone who make you a better person. The catch is you need to find someone who is willing to marry down.
  • Buffett & Munger in response to ("How does a 10-yr-old get rich?"): Read everything you can get your hands on. (By age 10, Buffett had finished all investing/finance books in his local library..twice! Oh and he sold newspapers.)
  • Munger on heroes: “You are not restricted to picking living people as your heroes. Some of the best people are dead.” (Think Ben Franklin..)
  • Noteworthy links: 1) Stockholders' questions summary 2) Ultimate 2007 Berkshire Hathaway Annual Meeting Guide

technorati tags: berkshire hathaway, warren buffett, charlie munger, 2007