It's not often that wealth managers have an opportunity to see or hear the words of the Oracle of Omaha, Warren Buffett, Chairman of Berkshire Hathaway, and his right hand man, Vice Chair Charlie Munger, as they talk about their company and investing.
And it's even rarer to have their words relayed by an ?minence grise in the investment world, A. Michael Lipper, who sold his eponymous Lipper Analytical Services, Inc. to Reuters in the late 1990s and now advises select clients and runs a hedge fund. He's also the author of Money Wise: How to Create, Grow, and Preserve Your Wealth, (St. Martin's Press, September 2008).
But, this happy confluence of events did take place when Lipper, a Berkshire Hathaway shareholder, attended the company's annual meeting, also billed as the company's "annual Woodstock for Capitalists," on May 1 and then wrote about it in his blog on May 2, in "Answers from Warren and Charlie--Omaha Highlights."
Lipper owns, either in his "financial services hedge fund or personally Berkshire, Goldman Sachs, and Moody's." This editor owns Berkshire Hathaway.
See Wealth Manager's exclusive July 2008 interview with Lipper, "The Seeker."
For anyone who hasn't yet read Warren Buffett's shareholder letter, here it is.
Comments? Please send them to email@example.com. Kate McBride is editor in chief of Wealth Manager and a member of The Committee for the Fiduciary Standard.