Warren Buffett will forever be the poster boy of investing for money managers. For a good part till the late ’90s, there were very few successful role models such as Buffett and Peter Lynch whom the investing fraternity could look up to and, hence, it’s not surprising that Buffett’s influence has been all-pervasive on investors of my vintage. Though over the past decade or so, we have had quite a few successful money managers and hedge fund managers coming into their own, yet the pilgrimage to Berkshire Hathaway’s annual meeting at Omaha by far remains the most venerated congregation of value investors.
While I have been investing in equities for more than two decades now, it was only in 2013 that I made my maiden visit to Omaha and 2018 happens to be the second year that I have attended the event. Being a fund manager for over 25 years is not easy and one can only sustain this enthusiasm if one enjoys the whole business of business and all facets of investing, like I do. Even if I did not own any stock in Berkshire (though I do) I would enjoy the whole show they put together where all their businesses come together in one big exhibition. The other reason for coming this time is that with both Munger and Buffett advancing in age, I felt that they may find it increasingly difficult in future to have the energy and enthusiasm and passion needed to have these full-day meetings that they conduct with such humour and wit on investing and life lessons.
If one is se