It might be sacrilegious to accuse Berkshire Hathaway of false advertising, but its spring gathering of shareholders is hardly an annual meeting. No, it’s a pilgrimage.
Money managers, advisors and investors from all over the world descended upon Omaha, Neb., this weekend to take in the words of wisdom from the world’s most famous investor, Warren Buffett.
More than 18,000 people crammed into the CenturyLink Center—with many thousands more watching on big screens in adjoining rooms—as the 81-year-old Buffett and his right hand man, 88-year-old Charlie Munger, answered more than 50 questions from shareholders and analysts during an eight-hour marathon session.
Count Timothy Vick, Chicago-based senior portfolio manager of Sanibel Captiva Trust Co., as one of Buffett’s disciples. This year’s meeting was his 13th.
“For as little as one Berkshire share, you can listen to the best investor in the world take questions for hours on end and give home-spun advice on how to become a better investor. It’s hard not to take away some bit of advice that will help you personally as an investor,” he says.
Berkshire’s shares (BRK.A) were trading at $122,888 on Monday afternoon.
Vick, whose private wealth management firm manages $600 million, says he follows Buffett’s buy and hold strategy very closely and he comes to Omaha to “recharge my batteries.”
“Sometimes you can get caught up too much in the hype of the market. It’s good to go back and listen to some sensitive thinking,” he says.