Buffettstock to be Held this Weekend
Warren Buffett's Berkshire Hathaway Annual Shareholders meeting is taking place beginning today in Omaha, where 30,000 people are expected to attend. Dubbed "Buffettstock" by CNBC, the attendees listen to Buffett and Berkshire Vice Chairman Charles Munger answer questions on business, the economy and life.
In an interview with CNBC, Buffett said, "It's interesting, there are a lot of events. And, after the meeting which, well, I get there about six in the morning and then I walk around for a while and then we conduct six hours or so of questions. But then we have the international group for a few hours and then we have parties afterwards and all kinds of things... I don't get tired at all. And the interesting thing is Charlie doesn't get tired. And Charlie is 84. And he loves it. I mean when, when we're up there with the international group and they're coming through he is, you know, if, if they're from, if they're from France he tells 'em about 28 things about France that they didn't know. And, (laughs), he's, he's enjoying it too.
"It restores your enthusiasm for what we know in our heart is right in investing, management ethics and everything that is good about capitalism," said Frank Betz, a principal at Carret/Zane Capital Management LLP in Warren, New Jersey. "I hate to sound so corny, but that is exactly what happens."
Berkshire had a good year in 2007. It boosted profit 20 percent to $13.2 billion, and revenue the same amount to $118.2 billion, despite increased competition in insurance and several of its more than 70 businesses hurting from the housing slump.
Source: Source: CNBC | Published on May 2, 2008
Are you retail Agent Looking for a Quote?