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Business discussions with Buffett lead to life lessons for students

Tuesday, December 8, 2009

BY WAYNE LARSON

"I was able to watch with my own eyes the truths about the man that I had read so much about," said second year Masters of Business Administration (MBA) and Law student Matt Kincaid. Warren Buffett is the man to whom he is referring. Kincaid and 25 other MBA students were able to meet Buffett, known as the "Oracle of Omaha," on Friday Nov. 20. The group was on a trip to Omaha, Neb. that KU School of Business students take to meet one of the richest men in the world each year.

The MBA students were accompanied by Professor and MBA Academic Director Charles Krider and Business undergraduate Aaron Andra. "Being in the same room as Warren Buffet was very exciting because, when he walks in it's not like he's a business man, it's like he's a rock star," Andra said.

Throughout the course of the day, the group met with top management employees at two of Buffett's companies and also had a question and answer session with Buffett at the Berkshire Hathaway headquarters, in Omaha.

Five other universities from across the country joined the KU School of Business students on their day's endeavors. Students from each university got to ask Buffett three or four questions during the question and answer session of their day. Kincaid was one of the select few MBA students who was able to ask Buffett a question.

After getting over a brief spout of nervousness, Kincaid asked Buffett about the stability of the stock market going into the next 50 years. However, Buffett's answer to that question was not the greatest thing he took away from the day.

"Of all the things that I learned on the trip, the one that stands out the most is the message of modesty," Kincaid said. "The first or second richest man in the world wasn't flashy, arrogant, condescending, or egotistical. He was unpretentious, unassuming, kind and courteous."

Andra was able to second the feelings of Kincaid. "It is pretty wild meeting him (Buffett) because he is such a humble guy,"Andra said.

Buffett gave Anderson W. Chandler Professor of Business Mark Hirschey a shout-out before the MBA students asked him questions during the question and answer session. Hirschey has been scheduling these student visits for more than five years, but was unable to attend this year's visit. "He said ÔBy the way, tell Professor Hirschey I said hi,'"Andra said. "We are very lucky at KU to have a connection with Mr. Buffett," Andra said. "It's all thanks to Professor Hirschey. He and Mr. Buffett are good friends."

Good friends indeed. Andra said Buffett made a note to the group that he would not sign anything during the course of the day however, he made one exception. He signed a card for Professor Hirschey.

KU School of Business MBA students learned both business and life lessons on the trip. "It was one of the most unique experiences that I have ever had,"Kincaid said.