SEEKING WISDOM AT THE WOODSTOCK OF CAPITALISM
In life, as in investing, it’s not always about the immediate returns
In the heart of America lies a modest, sleepy city called Omaha. It doesn’t boast towering skyscrapers or bustling crowds like some of its metropolitan counterparts. But once a year, this unassuming city becomes a vibrant hub of activity, drawing people from all corners of the globe who get together here to attend the Berkshire Hathaway Annual General Meeting (AGM), hosted by one of the world’s best investor ever, Warren Buffett.
On Saturday, 4 May, I had the privilege of attending the AGM for the first time in my life, and it was an experience like no other. Sure, what attracted me the most to this year’s meeting was undeniably the chance to be in the same room as a legend like Buffett, and also to pay my tribute to Charlie Munger who passed away late last year. But what I did not expect was the sense of community that permeated every corner of the event.
Imagine being surrounded by friends and strangers alike, all brought together by a shared passion for learning and growth. As we waited in line to enter the venue under a light drizzle and chilly winds at 5 am, conversations sparked up effortlessly. People shared their experiences from past meetings, recounting memorable moments and the valuable lessons they had learned from Buffett and Munger. Some were attending the AGM for the first time, some for the 25th time.
And it wasn’t just about the big names on stage. It was about the connections forged in the crowd, the camaraderie that made everyone feel like part of something bigger than themselves. In those moments, it didn’t matter if you were a seasoned investor or a newcomer to the world of finance or investing. What mattered was the mutual respect and admiration for those who had paved the way before us.
As the day unfolded, I realized that the true charm of the Berkshire AGM lies not just in what Buffett or Munger have had to say on investing, business and life over the years, but in the connections made and the friendships formed. It’s about coming together as a community, bound by a shared curiosity and a desire to grow.
Jason Zweig, noted American financial journalist and columnist for The Wall Street Journal, wrote this beautiful passage in an article in 2004 while sharing his experience of attending the Berkshire AGM: “Few things make humans feel worse than being alone. Buffett knows that no one wants to face the uncertainties of investing all by our lonesome. We want to be comforted and feel we’re part of a community. That’s the greatest gift he gives his investors: not massive wealth or brilliant insights but the deep-rooted solace of knowing that they belong, that they are in this together with others, that they are not alone.”
It’s rare to find words that resonate deep within our souls. Yet, this profound passage from Jason, capturing the essence of Buffett and Munger’s impact on their followers, does just that. It speaks not merely of financial investments but delves deeper into the intrinsic human yearning for companionship and community.
Even while this was my first time in Omaha, I have been a student of Buffett and Munger for years, and have come to understand that their ethos is not just about building wealth, but about building relationships and trust—or Munger’s “seamless web of deserved trust”—and nurturing a community that thrives on mutual respect and shared growth. This ethos, when embraced, can diminish the pangs of loneliness and replace them with a comforting assurance that we are all in this together.
For me, like thousands of others who travelled thousands of miles for glimpse of Buffett speaking at the ‘Woodstock of Capitalism,’ this was like a pilgrimage. And this pilgrimage was not about securing financial gain or getting ahead with insider tips. It was about the experience—being part of a community that values deep investing principles, long-term thinking, and the wisdom that comes from decades of experience.
In life, as in investing, it’s not always about the immediate returns. Sometimes, the most valuable journeys are those taken for the joy they offer and the growth they foster. For me, attending the Berkshire AGM was about the sheer joy of being here, and the irreplaceable atmosphere of shared wisdom—a pilgrimage in the truest sense, to the mecca of wisdom, to an experience that proves that the while the world will always be full of smart and intelligent people, there would never be another Buffett, or another Munger.