For devout Muslims, a pilgrimage to Mecca is a once-in-a-lifetime obligation. For devoted Catholics, the Vatican is a spiritual touchstone, and for Sikhs, the Golden Temple in Amritsar is a sacred destination. In much the same way, for countless dedicated value investors, attending the annual Berkshire Hathaway Shareholder Meeting-held each year on the first Saturday of May in Omaha-is a lifelong aspiration and a pilgrimage in its own right.
It is the place, famously called, “the Woodstock of Capitalism” from where the legendary duo-Warren Buffett and Charlie Munger- have shared their worldly wisdom, offering invaluable insights that span everything from becoming a successful investor to living a meaningful life.
Folks from all walks of life have flocked to Omaha, to hear Buffett and Munger answer questions directly and to absorb their perspectives on investing, business, and life-often for hours at a time. The gathering has almost a cult like attraction for like-minded investors, many of whom return year after year to connect, learn, and celebrate their shared enthusiasm for Berkshire Hathaway’s philosophy and success.
For years, I have tuned in from my home office to the live broadcasts of the Berkshire Hathaway meeting, absorbing the wisdom of these legendary figures. But with Charlie Munger’s passing in 2023 and Mr. Buffett now 94, I felt a growing urgency to experience this unique gathering in person-to see Warren Buffett live, immerse myself in the event’s atmosphere, and make sure I didn’t miss the chance to be part of this storied tradition.
Little did I know that this meeting would mark the last time Mr. Buffett would preside as Chairman and CEO of Berkshire Hathaway. I feel truly fortunate to have had both the means and the opportunity to travel to Omaha with my son to witness this historic, 60th annual gathering in person-an experience I will always treasure.
What follows is a detailed account of our journey and our firsthand experience at the event.
Planning for the trip began about three months in advance, after a friend from San Diego-a fellow value investor and kindred spirit-agreed to join me for the journey. I also decided to bring my 13-year-old son, as I believed this would be an unforgettable experience for a young teenager, one that he would carry with him for the rest of his life.
The meeting was scheduled to take place at the CHI Health Center Omaha, located in the heart of downtown Omaha. Despite planning our trip three months in advance, we quickly found out that all nearby hotels were either fully booked or charging exorbitant rates.
Being intrinsically cheap and unwilling to fork out top dollars for accommodation, we opted to rent an Airbnb apartment approximately six miles from the CHI Health Center. Our accommodations were located in Council Bluffs, a city just across the Missouri River from Omaha.
A quick note about Council Bluffs: though often associated with Omaha, it’s actually a city in Iowa, situated directly across the river from Nebraska. The Missouri River forms the natural boundary between the two states. Interestingly, Borsheims, now a wholly owned Berkshire Hathaway jeweler, originated in Council Bluffs back in 1870.
We flew into Omaha on the evening of Thursday, May 1st. Enroute we met a young man, who was traveling all the way from S. Korea, to attend his first ever, Berkshire meeting. He told us that he was serving his military duty and had saved diligently to make this pilgrimage, eager to attend his first Berkshire meeting.
His story was far from unique. The annual meeting attracts a remarkably diverse crowd: students, seasoned investors, business professionals, and families, all united by their admiration for Warren Buffett, the “Oracle of Omaha”, revealing in the opportunity to be part of a global community of like minded individuals, who all make their pilgrimage to learn firsthand from one of the world’s greatest investors, and to experience the unique camaraderie that defines the Berkshire Hathaway Annual Meeting.
Berkshire meeting vibe was in the air as we landed in Omaha airport. As we walked outside we noticed a sign post, reading, “See’s Candies. Welcome, Shareholders!”, an instant reminder of why at this time of the year we find ourselves in middle of nowhere.
We got out of the airport to the feeling of a mid-west spring that felt just perfect. Not the harsh bite of winter or summer’s heavy blanket, but something in between– just right. We instantly knew this was going to be a fantastic weekend. Our Uber ride to Airbnb rental was about 15 minutes.
Our Airbnb, a duplex in a quaint residential neighborhood of Council Bluffs, exuded an air of historic elegance mixed with gentle neglect. The brick-paved road leading to the property added to its old-world charm. The space itself was non-descript—a one-bedroom flat with a kitchen and a loft area containing a sofa bed.
My friend, unaccustomed to Airbnb rentals, immediately noticed several quirks about the place. Most concerning was the absence of fire alarms or carbon monoxide detectors. The kitchen came well-stocked with utensils, cups, mugs, and a coffee maker. We found coffee filters and sugar in the cabinet, but curiously, no coffee. The refrigerator sat empty, with no water bottles in sight. The hosts had provided no instructions for using the space or brochures highlighting neighborhood attractions.
I sensed that the hosts had recently converted this property into an Airbnb rental and weren’t accustomed to hosting frequent guests. Then again, it’s hard to imagine many people visiting Council Bluffs and renting an Airbnb in this neighborhood for any reason other than occasional travelers like ourselves—here for one specific event, likely the major and perhaps only significant event of the year.
For the first night, having made the decision to not rent a car at airport, we were restricted to the vicinity of Airbnb rental . With no open restaurants within walking distance, we ordered pizza and beer through Uber Eats.. Our food was delivered within the hour, sans beer. The Uber eats driver was courteous and informed us that the grocery store fulfilling our order did not sell alcohol after 10:00 PM. He offered to instead get us beer from a near by gas station, if we were willing to tip him $5. We obliged instantaneously.
Berkshire meeting was on Saturday and we had the entirety of Friday on hands. Acting on my suggestion and what I thought was sound advice-that the real Berkshire festivities wouldn’t kick off until after 5:00 PM-we decided to rent a car and spend the day at the Omaha Henry Doorly Zoo. According to Google, it’s the largest zoo in the country, and I figured it would be a great way to make the most of our spare time as well as mark the trip with my son having done atleast one touristy thing. My friend, kindly obliged.
Unfortunately, my guidance turned out to be off the mark. As we later discovered, downtown Omaha was already buzzing with Berkshire-related events starting early Friday. We missed out on a slew of gatherings, including Guy Spier’s VALUEx BRK event, which began at 10:00 AM and featured a lineup of renowned investors and speakers. Even Bill Ackman hosted a live event that morning, and there were networking opportunities and meetups happening throughout the day. In hindsight, Friday was a prime opportunity to connect with the broader investing community and soak in the unique atmosphere that surrounds the Berkshire weekend.
To make matters worse, we had assumed that the conference center doors would open at 5:00 PM for shareholders to browse the various Berkshire subsidiaries’ booths and shop for exclusive merchandise. Instead, when we arrived at 5:00 PM, we found the venue closing up-the Exhibit Hall had actually been open from 11:00 AM to 5:00 PM. We had missed our chance to explore the displays, sample See’s Candies, and experience the legendary “shopping opportunity” that’s become a hallmark of the Berkshire weekend.
In the end, our well-intentioned detour to the zoo meant we missed out on much of the Friday excitement and the chance to fully immerse ourselves in the Berkshire experience. Lesson learned! Next time, I will be sure to double-check the schedule-and join the festivities from the moment we arrive.
As a silver lining to our earlier missteps, we did manage to make the most of Friday evening by attending The Investors Podcast (TIP) Network gathering at Blatt Beer & Table. The atmosphere was lively, and the hosts were handing out free Berkshire shareholder t-shirts-a fun touch that added to the camaraderie among attendees. While mingling at the event, I met a fellow Indian investor who tipped us off about ongoing festivities at Borsheims, the renowned jewelry retailer wholly owned by Berkshire Hathaway.
After enjoying some great conversations at TIP, we decided to head over to the Borsheims flagship store. The scene there was bustling, with shareholders taking advantage of exclusive access and special pricing. The store was packed with people enjoying the festive spirit and making the most of the 20% discounts offered on all luxury watches and jewelry throughout the weekend.
Ironically, just a week earlier, I had treated myself to a Longines Conquest as a birthday gift. Had I known about the Borshiems weekend discount, I could have picked up the very same watch for 20% less. The savings on the watch itself would have in part covered the expense for the trip. Lesson learned: sometimes, timing really is everything!
Berkshire meeting was scheduled to start at 8:00 AM on the morning of May 3rd at the CHI Health Center in Omaha. We were told that to get a decent seating we should line up at the CHI Health Center as early as one possible, some even suggested lining up at 4:00 AM in the morning. While, I was very much up for doing so in the hope of getting a real close up view of Mr Buffett, my friend not so much. In the end we decided to try and reach the event site by 5-5:30 AM.
The next day true to the plan, we managed to reach CHI Health Center around 5:30 AM. By that time, the lines at all the gates, except for the very last gate of the Center was quite a bit larger. We made a call to stand at the last gate, being one of the first folks to line up at the gate. The atmosphere was electric—it was remarkably easy to strike up conversations with complete strangers. We were all early birds united by the same goal: securing seats as close as possible to the podium where Warren Buffett would soon share his investment wisdom and life insights.
As the midwestern dawn’s chill settled in, the wait began to feel longer than anticipated. I started noticing several things that grew increasingly frustrating. Most glaringly, there were no restroom facilities anywhere in sight. People had been waiting in line since as early as 3:00 AM, and this wasn’t the first time such crowds had gathered for a Berkshire meeting. Given this predictable situation, how had the organizers failed to arrange portable toilets near the gates? What were people supposed to do when nature called? Equally concerning was the lax security outside the CHI center. Pro-Palestine protesters had gathered nearby, rallying against Buffett and his firm, with no telling when the situation might escalate beyond peaceful demonstration. However, few people were complaining if any.
At prompt 7:00 AM the doors to the venue opened and all the folks started gushing in, everyone trying to find seats closest to the podium. My son, full of young-teenage energy, dashed in, prompting me to follow him as fast as I could. We reached the seating area farily early, giving us lots of options to decide on seating really close to the podium. Too many choices however breed confusion. Exactly the problem we faces. While I blocked 3 seats, which I thought were optimal, my son decided to venture out to look for even better seating. Fearing that he will get lost, I made the grave mistake of picking my belongings and move closer to the podium in search of my son. However, by the time I found him, not only did we loose the seating I had identified, my son was unable to secure any seats that were better than the ones we found. We ended up in seats that were a compromise between being close to the podium and inability to stretch our legs. The later turned out to be very uncomfortable situation, given the duration of the meeting.
By 8:00 AM the entire arena was filled with share holders. There was a big ovation when on screen we saw the former first lady, Hilary Clinton walking into the venue. Soon there was another big roar when the Oracle himself walked onto the podium.
One big change to the event this year was the notable absence of introductory video that was played at the start of every Berkshire meeting for the past several years. Instead, Mr Buffett went right into the meeting, highlighting the fact that the 2025 meeting was the 60th Berkshire meeting with Warren at the helm. He then talked about the new record for pre-meeting gathering at 19,700 people who dropped by the previous afternoon. Before questioning began, Warren made an interesting observation, noting that Tim Cook has made more money for Berkshire than he himself has ever made at Berkshire.
The Q&A began with Becky Quick asking the first online submitted question by Bill Mitchell. He referred to Warren’s Fortune 2003 article, in querying Buffetts’ views on tarriffs. Buffett response was elegant as ever– A few things that struck out for me:
a. Trade (sis. Tariffs) can be a act of war
b. “I dont think its a great idea to design a world where a few countries say, “Haha we have won”, while other countries are envious
c. The more prosperous the rest of the world becomes, it won’t be at our expense –
The Q&A session went on for four hours with only a brief intermission. Throughout the entire marathon, he addressed each question with the patience and sophistication of a master at the height of his powers. At 94, he displayed a mental acuity that seemed to surpass that of most audience members half his age—sharp, engaged, and utterly present.
Watching him field question after question with such grace and depth, one couldn’t help but realize we are witnessing something irreplaceable. Warren Buffett represents a singular presence in our time, a convergence of wisdom, experience, and intellectual vigor that the world may never see again.
The bombshell news came towards the end of the meeting– to quote “I think the time has arrived where Greg should become the chief executive officer of the company at year-end. I want to spring that on the directors effectively and then give that as my recommendation……That would mean that at year-end Greg would be the chief executive officer of Berkshire. I would still hang around and could conceivably be useful in a few cases. But the final word would be what Greg said, in operations, in capital deployment, whatever it might be”
We planned the trip to Omaha, not knowing we will be witnessing history in the making. I feel very fortunate to have had the opportunity with my son to attend the final Berkshire meeting with Warren at the helm!
The entirety of the meeting transcripts are available at: steadycompounding.com