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Finance students attend Berkshire Hathaway's annual shareholder meeting

Friday, May 23, 2008

Over 135 KU School of Business students attended the annual Berkshire Hathaway shareholder meeting May 3 in Omaha. Students attended various events throughout the weekend, including a six-hour Q&A session with Berkshire CEO Warren Buffett and Vice Chairman Charlie Munger.

Each year, a group of Finance Cluband MBA students from the KU School of Business travel to Omaha for the board meeting. This year, the students were particularly inspired by the crowd and the candor of legendary business leaders like Buffet and Munger.

"I was amazed at Warren and Charlie's ability to sit in front of 31,000 people and be as candid and interesting as they were," said Aaron Blanchard, second year MBA student. "During the meeting, Mr. Buffet and Mr. Munger really conveyed to the audience the Ôart' of what they do every day."

Finance Professor Mark Hirscheyaccompanied the students along with MBA Director and Professor Chuck Krider, Bill Lewis and Ph.D. student Shane Moser.

Justin Lueger, first year MBA student, said his course work at KU directly prepared him for the meeting.

"KU students are fortunate because much of what was discussed at the meeting reinforced what Professor Hirschey has taught us all semester," Lueger said. "It's a simple approach to investing that focuses on honest and capable management, and businesses with attractive economic characteristics. Buffett has used the same approach to amass a huge fortune."

The Berkshire Hathaway trip is only one of several real-world learning opportunitiesoffered by the KU School of Business.

More student testimonials from the Berkshire Hathaway trip:

"While it is great to hear Warren Buffet, the richest man in the world, speak about finance, I learned the trip is more about networking for yourself and building relationships. Spending time outside the setting of a classroom or formal meeting really allowed me to get to know and relate to the other members of Finance Club. We were always asked what school we were from and proudly responded, ÔUniversity of Kansas Finance Club!' Everyone I spoke with seemed genuinely interested in our annual trip up to Omaha."
-Tanner Yager, Communications Chair, KU Finance Club

"It was an unbelievable experience, and I feel privileged to have been able to participate. Several of the world's greatest value investors, aside from Buffett and Munger, were in attendance, so we were in good company. I can't think of another opportunity with such real-world applicability."
-Justin Lueger, first year MBA student

"Originally I thought that I would be hearing six hours of Berkshire Hathaway minutiae, but I couldn't have been more wrongÉby the end of the meeting I had really learned quite a bit about multiple topics, including management skills, recruitment, accounting, finding the Ôright' company and baseball. As I left, I was doing personal financial calculations to try and figure out how to buy one of their ÔB' shares so I would be able to continue attending the meetings. Maybe someday!"
-Aaron Blanchard, second year MBA student

"The people there ranged from those who bought the stock years and years ago, to people as young as recent college graduates. After the meeting, I had a much better understanding of why ÔThe Oracle of Omaha' got his name."
-Jeremy Appleton, Economics and Finance Major

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