Today was the last ever Berkshire Hathaway Annual Meeting with Warren Buffet at the helm. At the age of 95, the Oracle of Omaha has decided to call it quits. It’s been quite a ride!
I was a fractional shareholder in Berkshire for a while, but never exercised my right to go to the annual meeting. That’s right, anyone who owns the stock is invited to Omaha to sit in on the company results and ask questions to Buffet, and until recently, Charlie Munger.
One person got up at 3am, flew from Chicago to Omaha, and then raced down the arena to get to the podium to ask his one BIG question, which was about an acquisition of a hotdog company by Berkshire Hathaway.
Warren looked puzzled. A hotdog company? Acquired? By Berkshire Hathaway?
Everyone was quite confused, until they realised the answer: the hotdog company had been acquired by Berkshire Partners, a private equity firm based 2000 kilometers from Omaha.
Do your homework.