Warren Buffett Promises 'Extensive' Answers to Goldman Questions from Shareholders
It's time for Omaha's big spring fling weekend with Warren Buffett.
A record crowd of over 40,000 is expected for this year's Berkshire Hathaway shareholders meeting, boosted partially by the availability of newly-split Class B shares for less than $100.
The weather forecast calls for a high of 68 degrees with partly cloudy skies Saturday, but most of the Buffett fans coming to town won't be spending much time outdoors tomorrow.
They'll be packed into the almost 18,000 seat Qwest Center Omaha arena, home to the Creighton University Bluejays men's basketball team, the University of Nebraska at Omaha Mavericks men's hockey team, and big-name music shows. (George Strait performs this coming Thursday. Nickelback will be there on May 25.)
Thousands who aren't able to get a seat in the arena will be in overflow spaces watching a live video feed from the main stage.
And on that stage: Warren Buffett and Charlie Munger, for a marathon 5-hour (excluding lunch break) question-and-answer session that typically covers a wide variety of topics.
Expect questions on Berkshire's businesses, the state of the economy, and the almost obligatory question from a young person seeking advice on how to get started with investing.
There will certainly be tough questions about Buffett's increasingly controversial investment in beleaguered Goldman Sachs. He tells the Wall Street Journal, "I expect to get multiple questions about Goldman (Sachs) and I'll give extensive and complete replies."
Also expect Munger to often follow an answer from Buffett with his famous phrase, "I have nothing to add." (It's one of several responses you can get from Warren and Charlie's Magic Answer Ball, $14.02 from Borsheim's.)
There will also, of course, be plenty of opportunities to do some shopping from Berkshire companies like Borsheim's, including those with booths on the convention center floor and stores in the Omaha area. (Berkshire helpfully provides a visitor's guide.)
Along with sellers including See's Candies and Justin Boots, , Berkshire's BusinessWire will be offering a commemorative crushed pennies for $1 each, to raise money for charity. That's a profit margin Buffett has to love.
Here are some previews of the meeting from around the web:
Chicago Tribune: A smorgasbord of reasons to line up for Warren Buffett speech
Dow Jones Newswire: New Shareholders Head To Berkshire Annual Meeting
Fortune: 4 questions for Warren Buffett
Motley Fool: 5 Questions Buffett Must Answer
New York Times/Reuters Breakingviews: Berkshire Hathaway’s Derivatives Exposure
KETV, Omaha: Buffett Apologizes For 'Big Mama' Overlook
Current Berkshire stock prices: