Berkshire Hathaway Gathering, Pt. 1: Advisors Make the Pilgrimage

The fact that Buffett doesn’t make himself as available as the leaders of other public companies does make the Berkshire meeting an even more critical date on the calendar. “You’ve only got one chance a year to hear what’s on his mind,” says Vick.

Vick will get absolutely no argument from Martien van Winden, founder and manager of Hoofbosch, a Dutch investment fund. He considers the Berkshire annual meeting the “best one-day economic seminar in the world.”

“Buffett and Munger, they know what they are talking about. Most of the analysts, central bankers and politicians, even the world famous, are talking [BS] most of the time,” he says. 

A longtime devotee, van Winden doesn’t invest in Berkshire shares, but he implements Buffett’s way of thinking into his own investment strategy. He only invests in a small group of solid companies in Switzerland, the U.S. and the Netherlands.

“For 364 days of the year I hear all kinds of [BS] about how to invest. One day a year I hear very serious talk. I do not agree with everything both guys tell me. I do not invest in financials, for example, and I invest [some] in gold, but I take their comments very, very seriously,” he says.

Being a value investor like Buffett isn’t always easy but listening to arguably the top tandem of all time is like getting an annual “booster shot,” says Hardev Bains, president and portfolio manager of Lionridge Capital Management, a Winnipeg, Canada-based asset management firm.

“The news you read is really focused on the short term and short-term factors. One has to be emotionally vigilant that we’re not getting caught up in the psychology of the masses,” he says.

“When the market is zigging and you’re zagging, that can be very tough emotionally. (The Berkshire meeting) is an oasis of rational thinking.”