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?? We wanted to experience WOODSTOCK FOR INVESTORS first hand.
This year approximately 40,000 shareholders made the trip.
Personally, I was most interested in hearing Warren Buffet and Charlie Munger,
??(two of the most successful businessmen in the world),
??answer random questions for six hours
and I secretly hoped that some of their wisdom would somehow magically transfer to ME!
Upon our arrival my friend Shannon’s Aunt Randi
(who I only knew through Facebook) retrieved us from the airport.
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We were given?? a mini-tour of downtown Omaha,
particularly a section called the Old Market.
There were fun shops & bars – a “happening” part of town that reminded us a little
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Of course by this time we were starving & “thirsty”
so Randi escorted us to her favorite place for Margaritas.
We drank some ate some & drank some.
Fernando’s was fun, the margaritas were great as was the company.
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Next on the agenda was a drive by of Warren’s house. As we were expecting
??- it was a nice enough house and NOT a McMansion..
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After “stalking” Warren’s house (not really…) we checked out Boys Town (http://girlsandboystown.org/)??which now includes girls. The original Boys Town was founded as a boys’ orphanage?? in 1921.
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I believe it is pretty
much mandatory to eat at Warren’s favorite restaurants
??- at least for one’s first visit. Tonight we ate at Piccolo’s.
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??It was NOT a fancy schmancy restaurant -it was really no frills.
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For dinner, since we were in the beef mecca of America, we all partook of the COW
(T-bone, Strip steak & prime rib) & were happy with our choices.
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Last event for the evening was a “Concert & Conversation” with Peter Buffett,
Warren Buffet’s son
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The event was held at the Witherspoon Concert Call
located in Joslyn Art Museum which is in downtown Omaha.
After the concert we HAD to get some sleep
– we were up since 3:30 a.m. & had a BUSY next day ahead of us.
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Saturday – May 1st 2010 ~~~
THE MAIN EVENT?? ~~~???? (and Roman’s birthday!)
The day of the meeting, we woke up early, drove down to the Qwest Center
and got in line about 6 a.m.
There were already thousands of shareholders waiting in front of the main doors.
We finally found the end of one of the lines then began the hour wait for the doors to open.
We already decided for next year we need to BE THERE by 5 a.m……..
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??At exactly 7:00 a.m., the doors to the Qwest Center were opened
& there was a RUSH (but not a mad rush, more orderly) to get inside.
Unfortunately for us people were getting out of taxis
& walking right in after we just waited an hour for a “good spot”.
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Lesson learned: get there EARLY!
We eventually got seats (not great), saved them,
then waited in the next (orderly) line for complimentary coffee and cinnamon rolls.
About 8:30 the “standard” movie begins.
This year it starts with a cartoon that’s designed to teach children good spending habits.
??There’s a video about Burlington Northern
(the railroad Buffet bought for $27 billion, his largest deal ever).
??Then there is a funny “Desperate Housewives” clip where the women refer to
Warren & Charlie Munger.
We see a Geico ad where Warren is dressed as a rock star.
Apparently ever year the movie includes a clip of Warren testifying before congress
and includes his famous quote
??”Lose money for the firm, and I will be understanding.
??Lose a shred of reputation for the firm, and I will be ruthless.???
??This alone makes me admire Warren Buffett.
Upon the ending of the movie Warren & Charlie are set to answer (for about 6 hours)
??unscripted questions from shareholders & journalists
who had questions submitted to them prior to the meeting.
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Questions regarding an assortment of topics were fielded by Warren & Charlie.
Everyone loved when Warren asked if Charlie wanted to comment
he would respond in a dry tone.
“I have nothing to add” but sometimes Charlie DID provide relevant commentary.
Some subjects covered were: Goldman Sachs “debacle”
(Charlie said “while Goldman did nothing illegal,
the firm was engaged in “socially undesirable” activities), Greece, and Harley Davidson – investing in debt vs. equity. I particularly loved when Warren said he had an unused carry-forward
on his latest income tax return from charitable donations of $7 billion.
We took a short BREAK FOR LUNCH then back to more Q & A
which was just as great as the first session.
Following the Q & A we returned to the downstairs Exhibitor Hall.
Many of the companies that make up the Berkshire stock are represented.
Here are a couple pictures:
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?? Upon leaving the Qwest center we headed to the Old Market,
??had some drinks & relaxed after our busy day. We had to get ready for our next adventure???..the Nebraska Furniture Mart BBQ
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??Nebraska Furniture Mart (NFM) hosted an enormous BBQ for shareholders.??
??They served pulled pork sandwiches, chips and a cookie for only $5.
Oh, and Coke too, of course.
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??We shopped while using a shareholder discount (30%).
??Roman wanted to buy a massage chair but Denise & I
just ended up buying candles (for our smokey rooms!).
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SUNDAY 5/2/10 Borsheims Event
????
We woke up bright &am
p; bushy tailed Sunday morning
& explored the buffalo statues downtown
??and the Bob Kerrey Pedestrian Bridge
that lead from Nebraska to Iowa.
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Our next event after exporing OMAHA was the brunch at Borsheims
??? the famous jewelry store which is part of Berkshire???s portfolio.
??The mall in which it is located is shut down and guarded by security
so that only shareholders can attend.
There was a buffet, open bar, and live musical entertainment.
All of the prices in the store have been lowered at least 30% as a shareholder discount.
??
We also had the opportunity to watch Warren (& Roman)
play Ariel Hsing ??? a 14 year old t able tennis champion.
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Another interesting activity to see was U.S.?? Chess Champion Patrick Wolff ??
playing against several opponents at once, blindfolded.
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??Our last HURRAH in Omaha was having dinner at Gorat???s
??? another of Warren???s favorite restaurants.
They are usually closed Sunday???s but they opened
for the Shareholders. Special menu & everything!
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Helen, Roman, Denise & Randi @ Gorat’s
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We did get a glimpse of Charlie Munger, Warren Buffet & Bill Gates ???
??but as you could imagine ??? security was tight so getting photos was difficult.
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And here is one of my favorite photos
on the way home to our hotel:
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MONDAY MAY 3rd 2010 ??
Monday morning we headed to the airport and flew back to Philadelphia.
Mission accomplished: Our first (and hopefully NOT LAST)
Berkshire Hathaway Shareholder Meeting!
??
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What would helen do? 