Warren Buffett put his combination of humor and brains on display for 27 students and four faculty members who had the opportunity to meet him for lunch and a Q&A session on Feb. 6 in Omaha.
The students, who were Finance Scholars and members of the Finance Club, visited the Berkshire Hathaway Inc. Headquarters for one of eight events allowing college students to meet and learn from Buffett.
During the Q&A, which lasted about two hours, Buffett gave his opinions on the stimulus package, marriage, how to run a business and his love of playing bridge.
Ashley Moser, junior and finance scholar, was the first student to ask Buffett a question.
“I was very nervous, but soon found out that he is very down-to-earth, relaxed and jovial,” Moser said. “The combination of humor and intelligence that Mr. Buffett possesses is incredible, and I have not met anyone like him.”
Buffett even told students part of a conversation he had with President Barack Obama during his election campaign. He told Obama he had good news and bad news about the economy, and Obama wanted the good news first.
“Well the good news is that the economy is so bad, you’ll get elected. The bad news is that the economy will be worse on Inauguration Day,” Buffett said.
Obama paused and then joked, “Is it too late to throw the election?”
As for his money, Buffett told the students he had everything he wanted. He said he didn’t want an entourage of servants and employees or a 65 foot boat, but that he lived a happy, simple life. Clark Stinson, junior and finance scholar, said he was most suprised with Buffett's answer to his favorite place to vacation.
"He simply stated that he doesn't vacation," Stinson said. "He said he does exactly what he likes to do every day. He chooses to live in Omaha, spend time with his family and remain active in the markets, because it is what he likes to do."
Rachel Berry, junior and finance scholar, said the two hours went by quickly.
“I felt so fortunate to hear his thoughts first hand on the economy, investing and his personal life,” Berry said. "We all left wishing we could listen longer.”
Afterward, he took the students and faculty members out to lunch at Piccolo Pete’s Steak House.
Mark Hirschey, School of Business Professor who attended the trip, blogged that Buffett “drove a handful of students to lunch, jumped right in and sat down at a table that was quickly filling with students, and then gabbed and hammed it up for another hour or so of photo ops with students. Buffett is happy and every Berkshire shareholder has every reason to be so as well.”
KU students’ expenses for the trip were provided by School of Business alum, Scott Jones, of Prairie Wind Capital.
“Hands-down one of the best, most enlightening experiences that I have had to date,” Moser said.
To view Hirschey’s full account of the trip, visit http://boards.fool.com/Message.asp?mid=27421675.
