Tuesday, March 1, 2011

Going to Warren Buffett's annual meeting this year

So I've told a few friends that I am going to Berkshire Hathaway's annual stockholder meeting this year in April. I got very polarized response. A few friends are very excited. I also got laughed at quite a bit.  So before anyone laugh at me again. Let me explain why I am going to Nebraska in April.

For those who get excited, it's easy. Warren has been a great investor. Beating S&P500 consistently in 5 year moving window over 46 years. It's like if you invested $19 at the beginning, your investment becomes $95,000 now.

It's quite remarkable if you think about it.  Consider making money by investing is similar to flipping a coin, In effect, Warren's firm has been winning the game of flipping cois in the past 46 years or something like that, you know what I mean.

In the annual letter to shareholders which Buffett published last weekend, he mentioned: "When Charlie and I met Todd Combs, we knew he fit our requirements.". Although Warren is in great shape, we can't ignore the fact that he is over 80 years old. He is not going to be with the company for that many years. Finance  and investment is something I was interested when I attended business school from 2008-2010. Now I'm back in technology. I feel that if I don't attend a Berkshire annual meeting soon, the annual meeting might be different without Buffett.

Basically what triggered me booking the flight tickets is the following in Buffett's letter :"Come to our Woodstock for Capitalism...". For those who are less familiar with American culture, WoodStock is "one of the biggest rock festivals of all time and a cultural touchstone for the late Sixties" according to Wikipedia.

To prove that I was interested in investment, I did a quick stock analysis last year. It was made in a few hours. So it wasn't very detailed. But it was a good call. The stock price has gone up almost 100% since I did the analysis. STEC analysis
View more presentations from Alan Tang.
Another reason I wanted to go to Omaha, Nebraska is that I just got my first DSLR camera (I got a Canon T2i or 550D for international model. 18M pixels). I wanted to get out more and take some pictures. I think if it isn't for Buffett's annual meeting, I probably wouldn't visit Nebraska. There're still a lot of places I want to (re)visit (Italy, Greece, Spain, France...)

Here is my first picture taken outside my employer's laundry room while waiting for my laundry to finish. I disabled flash and the picture come out much better than what I got before in similar low light situation with a point-and-shoot camera.

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