2007 Recap & Planning for 2008

2007 Convention
Closing thoughts

It has been 3 months since I landed in Omaha for a glorious weekend. The Woodstock of Capitalism turned more into the Holy Pilgrimage of Value Investing for me. I have backpacked extensively through Europe and vacationed in very exotic locations but never in my life did I think that a simple Nebraska town would excite me so much. It really was not the town but the experience of the 2007 Annual Berkshire Hathaway Shareholders Meeting held at the Qwest Center. The excitement has not left my body or my mind. I see that weekend as the beginning of a great path to achieving many financial and personal goals. Yes, I was among 27,000 capitalists, but I learned much more than just how to find value in companies or make incredible amounts of money on the stock market over time. I learned much about me. Warren and Charlie are excellent teachers and they go beyond answering simple or complex finance and economics questions. They relate most of the concepts to the real world that we live in. As a young investor I received much more information in 6 hours that I could have learned from any (or most) professors in a year. I feel very fortunate to have been present in such an incredible learning experience.

Warren and Charlie shared their thoughts on many different issues. They ranged from China to birth control to ethanol. Many of the questions that the audience asked them were very simple and they could have found their answers in any book about Buffett or Munger. I was surprised to hear Warren answer many questions with the same words he used in his letters to the shareholders regarding similar issues. I had just finished reading Cunningham's compilation of Buffett's letters a day before the conference and some of the quotes were still fresh in my mind when Warren used them again, word by word, as his answers. On some other stuff, Warren and Charlie used what seemed to me as pure logic when answering questions. Other times they were very clear and helpful, I especially enjoyed when a little girl asked them what she could do to make some money and they offered their advice. I could have stayed there forever just listening to them, aligning some of my standards to theirs and questioning some of their thoughts.

Looking forward
Omaha 2008

The time has come for me to step up to my own goals and challenges. I have set the bar fairly high because I know I can clear it. I just have to make excellent plans and work very very hard. As far as the next convention goes, I know I have to go. So far, I know I have a place to stay (with my friends from the blue house) and that my passes should come on the mail this time. I am looking forward to other arrangements, possibly taking my investment society with me or achieving the goal of scheduling a private conference with Mr Buffett.