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Warren Buffett One-on-One About Berkshire's 'Real Owners'

Friday, 2 May 2008 | 11:25 AM ET

Warren Buffett sat down for a one-on-one exclusive interview with CNBC's Becky Quick ahead of this year Berkshire Hathaway Annual Shareholders meeting.

The event we're calling Buffettstock '08 here at Warren Buffett Watch begins today in Omaha. More than 30,000 are expected to attend, the largest crowd ever, as it is pretty much every year.

He talked with Becky about the different types of people who come for the weekend.

Becky: How many people are you potentially expecting this year?

Buffett: I think we'll have about 30,000 based on the number of tickets we sent out.

Becky: Which is phenomenal?

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Click HERE for the full transcript of Warren Buffett's CNBC interview

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Buffett: Well, it's,they're real owners. I mean they, they come to this. They wanna learn more about the company. There's two different types. We got the very sophisticated type and they wanna ask kind of sophisticated questions. And then, then they have, we have the type that they put their, a good bit of their life savings in it and they plan to own it until they die. Just like they'd buy a farm or an apartment house. And, and they may not understand all the jargon that gets talked about by some of the shareholders but they, they still get a feel for the business. They, they, we got 200,000 square feet of our products on display. And they, they feel they own part of a company, which is exactly how we want 'em to feel. It's not some little ticker symbol that moves around or something on a chart or something that gets recommended by some analyst or something. It's a real, honest-to-God business that they've bought into and that they're going to be part of the rest of their lives.

Becky: What's it mean for you to have, to have these people who have been showing up for years and years and who come back every year and who are so excited to be here. This is not just another weekend for you.

Warren Buffett Exclusive, Pt. 4
The world's most famous investor sits down with Becky Quick to discuss the increasing popularity and size of the annual Berkshire-Hathaway shareholder meeting in Omaha.

Buffett: Oh, it's, it's fun. It's a weekend I look forward to, actually. I'm not sure how many CEOs look forward (laughs) to their annual meeting. But some of these people came from a partnership that I first started in 1956. In fact, up until about 10 years ago I could recognize some member of the family of 90 percent of the shares of Berkshire.

Watch for extensive coverage on both CNBC and CNBC.com of Buffettstock '08, including a live blog here on WBW as Buffett and his partner Charlie Munger answer shareholder questions for several hours, starting around 10:30 a ET Saturday.

Monday night at 9 p ET on CNBC, watch for Becky's one-hour special, The Billionaire Next Door: All Access with an exclusive behind-the-scenes look at what goes into making the big weekend in Omaha.

Current Berkshire price:

See Warren Buffett Watch on CNBC's The Call, most weekday mornings at 11:50 a ET

Questions? Comments? Email me at buffettwatch@cnbc.com

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