Berkshire Hathaway PreWeekend (Issue #60)
TL/DR:
Berkshire Basics
Meet Up FRIDAY
Hi all! It is finally that time of year again Berkshire Hathaway weekend! For those who’s first meeting in person, this is welcome for the rest you probably know the drill by now. For the newcomers here are the bullets:
Talk to as many people as possible
Go into the weekend with a learning mindset, not a taking mindset
Get up early on Saturday to get in line
Find as many side/outside events as possible during the weekend
Enjoy this incredibly unique opportunity
I went to my first Berkshire meeting when I was 9. Each year I would learn more and more stories of each of the acquisitions and build a network of other Berkshire nerds. For me this was a family affair and many of our closest family friends came from this meeting.
For any subscribers wondering how to get your kids into investing, the answer is this meeting. There is no better physical representation of a stock portfolio than the showroom floor with everything from See’s Candy to Forest River Campers. Each booth has a story behind it. For example, the story of Rose Blumpkin or Mrs. B who single-handedly started Nebraska Furniture Mart and managed it until she passed away. Another example is Coca-Cola a poster child Berkshire holding that represents their high-quality investing style. It is a simple and easy business to understand.
I’ve also always enjoyed the emphasis on quality and values (one could even say Pillars) during these weekends. The people are all high-quality people. The investments are based on quality not flash and fluff. Every year Buffett makes sure to remind investors of the possibility of mistakes by playing his speech from the Salomon Brothers collapse.
“Lose money for the firm, and I will be understanding; lose a shred of reputation for the firm, and I will be ruthless.”
- Warren Buffett
There is that and much more to look out for this year. Both Constellation and Boston Omaha have meetings on Monday (I will be at the Boston Omaha Meeting).
Meet And Greet:
For anyone in Omaha tomorrow I will be hosting a meet and greet at Starbucks in the lobby of the Hilton from 9-10 am Friday. Feel free to come for coffee and compounding. Please reach out if you have any questions (reply to this email).
Until Sunday,
Soren