2023 Berkshire Hathaway Annual Meeting
2023 Berkshire Hathaway Annual Meeting
Why I went in the past, who I met, and why I'm going this year!
The Early Years:
As a long-time shareholder, I was beyond excited the first year I attended the Berkshire Hathaway Annual Meeting. Paying way too much for a hotel, getting up before the crack of dawn, standing in line, meeting others, and finding a good seat was all part of the rite of passage as an investor. I loved it! I was exhausted, but I did love it!
Who I met:
Through pre-event dinners with other investors and Sunday brunches, I met so many good people over the years and learned some valuable and practical insights. Here are a few of the people I met during those early annual meeting trips:
A couple was investing in businesses in Africa, focusing on the sustainability of that economy. Talk about vision and investing with good intentions.
A woman from Houston concentrated on fitness and building a business in that space. She supported her husband and was one of the few women I met during the trips. She reminded me of the importance of focusing on small efforts daily. I drink more water because of her simple yet important tip.
A development manager over programmers who continues to rise today in computer science. I remember sitting next to him at dinner, and we were talking about automation and technology advancements. His words stay with me today. He shared that his job and team would be displaced way before a role like mine. When ChatGPT came out, and prompts on reviewing code were touted, I thought of him and that evening’s dinner.
A couple introduced me to their daughter, who recently graduated with an advanced degree in the area we were looking to fill. She was one of our candidates for the role. She was extremely competitive, and we ultimately hired her. She worked in my department for several years. Smart, talented, and asked thoughtful questions.
Of course, I saw, from a distance, famous investors like Mario Gabelli and Jack Bogle walking the floor. In those moments, you understand how we are more alike than we think.
Why Am I Going This Year?
Being surrounded by smart people who are also kind and patient is the reason I go. I feel a sense of community, and frankly, I get inspired when I see fathers who bring their daughters to the event. The young women not only learn but may have an opportunity to ask a question during the legendary five-hour Q&A sessions.
I’m heading back this year. Going earlier and staying longer. Thanks to some favorite groups, I’ll enjoy breakfast on Friday and Sunday with different groups of investors.
30,000 investors will descend upon Omaha, NE this weekend.
Here is a group of investors that wants to go to the annual meeting. It’s the epitome of the notion that people buy a story first. Now you have to have a good story, and Berkshire does, thanks to their capital allocation strategy, decentralized management structure, and extremely low overhead corporate structure. Study these three frameworks, and you, too, will do alright financially as a business owner or operator.
It will be a long day with a 5-hour Q&A session with Warren Buffett, 92, and Charlie Munger, 99, at the table to take all the questions. It’s gotta be fuel for these two men.
To me, when I see them on the stage, I think they must have had a high dose of happiness doing what they love and being with those that matter most to them.
All those who attend the meeting, I think, add to Warren and Charlie’s happiness factor. No one would sit for a total of 5 hours answering questions unless they really wanted to be there.
Looking forward to seeing fellow BRK investors and meeting new ones.
I better rest up. A marathon of four days is around the corner.
If you are interested in watching, check out CNBC, they will be streaming live on Saturday, May 6, 2023.