Oracle of Omaha
Every year the doors open at the Qwest Center in Omaha, Nebraska, welcoming a capacity crowd of about 24,000 from around the world. The people aren't here to witness a sporting event or rock concert, but instead attend an annual investor meeting commonly dubbed as a "Woodstock for Capitalists" by Mr. Warren Buffett himself. The ticket, ownership in Berkshire Hathaway Class A stock. The price, willingness to pony up about $90,000 for 1 share.
Investors from around the world flock to the scene, eagerly waiting to hear what Warren might say this year. Every word is analyzed as investors seek to gather clues of what might happen next in the market hoping to add to their fortunes. The reason, Buffett has consistently outperformed the market by 10% for the past 40 years! From an initial investment of 10 G's in BRK.A in 1965, that amount would have grown to about 30 million today (compared to about 500K if invested in the S&P 500). It is mind-boggling how a single man betting on large, well-known companies such as Coca-Cola, American Express, and Procter & Gamble, can experience those types of returns with very little risk. The secret, investing in strong brands that you believe in and not overpaying for them. Buffett seeks out companies that trade inferior to their intrinsic values, and then never selling his stakes after purchasing. This strategy has made Buffett the #2 wealthiest person in the World, and it is clear that he is on a mission to be #1.
Check out what happened at this year's meeting held this past weekend.
Investors from around the world flock to the scene, eagerly waiting to hear what Warren might say this year. Every word is analyzed as investors seek to gather clues of what might happen next in the market hoping to add to their fortunes. The reason, Buffett has consistently outperformed the market by 10% for the past 40 years! From an initial investment of 10 G's in BRK.A in 1965, that amount would have grown to about 30 million today (compared to about 500K if invested in the S&P 500). It is mind-boggling how a single man betting on large, well-known companies such as Coca-Cola, American Express, and Procter & Gamble, can experience those types of returns with very little risk. The secret, investing in strong brands that you believe in and not overpaying for them. Buffett seeks out companies that trade inferior to their intrinsic values, and then never selling his stakes after purchasing. This strategy has made Buffett the #2 wealthiest person in the World, and it is clear that he is on a mission to be #1.
Check out what happened at this year's meeting held this past weekend.
posted by nitty at 9:46 AM
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