Key Takeaways from Warren Buffet's Meeting Experience

My interest in the equity market was piqued during the stock market bubble burst in Bangladesh from late 2010 to mid-2011, witnessing many losing their life savings. I began questioning why individuals faced such losses when they could hold onto their stocks during bear markets and sell during bull markets. This inquiry fueled my entry into investing, prompting me to trade equities in the Dhaka Stock Exchange (DSE). Despite initial losses from impulsive buying post-IPO, I view this experience not with regret but as a crucial part of my learning journey. These setbacks serve as invaluable lessons, guiding my future stock selection strategies.

Attending a meeting where I could listen to Mr. Buffett in person has always been a part of my bucket list, much like every other investor. After relocating to the USA for higher education in 2022, this desire only intensified. I actively sought out opportunities to attend one of his sessions. Luckily, an opportunity presented itself when a friend, Dinesh, informed me that his father, a shareholder in Berkshire Hathaway, could secure a ticket for me to listen to Mr. Buffett at the 2024 annual shareholders meeting in Omaha, Nebraska.

On May 04, 2024, my long-awaited moment arrived as I attended Warren Buffett's shareholders meeting, made possible by my friend Dinesh and his father. Amidst a diverse crowd of shareholders from across the USA and beyond, I was struck by the profound impact of Buffett's investment philosophy, emphasizing long-term and value investing. The unwavering trust displayed by shareholders in him was truly remarkable, reminiscent of Buffett's renowned quote, which I also shared on my wall: "It takes 20 years to build a reputation, and six minutes to ruin it. If you think about it, you will do things differently."

Throughout the meeting, I endeavored to adopt Warren Buffett's perspective, reflecting on how he instilled the principles of long-term investing and patience among his shareholders. Greg Abel, potentially the next leader of Berkshire Hathaway, articulated the idea that shareholders view their investment in the company not as a short-term transaction, but akin to purchasing a house or business, underscoring a robust long-term investment strategy.

One factor contributing to Buffett's widespread trust is his principle of only investing in what he comprehends. This was evident in his candid response regarding artificial intelligence (AI), where he openly admitted his lack of understanding about AI, while also highlighting the potential risks associated with unregulated AI, drawing parallels to the development of nuclear weapons.

I found Buffett's approach to the question about investing in China and his dedication to maintaining an American focus quite surprising. One possible explanation could be his unfamiliarity with the Chinese business landscape, perhaps due to cultural or language barriers. His candid yet resolute response not only bolstered trust in him as an individual but also in his judgments, decisions, and Berkshire Hathaway as a whole. His straightforward evaluation and stance on investment prospects in China also served as a reassurance to shareholders that Buffett prioritizes their interests when making investment decisions rather than pursuing his own agenda.

Attending Buffett's meeting was a once-in-a-lifetime experience for me as a computer science major and business administration minor at Wayne State College, and it's a memory I'll treasure forever. His philanthropic and compassionate demeanor resonated deeply with everyone as he discussed philanthropy and kindness while fielding questions. His statement, "If you're lucky in life, make sure a bunch of other people are lucky, too," struck a chord with all of us. Despite nearing his 90s, he humorously quipped, "I hope I come next year," showcasing his legendary status in the investing world. The meeting concluded with a standing ovation, a testament to his enduring impact.

Tip: While networking with the shareholders at the conference, I aimed to connect with them on LinkedIn. Unfortunately, I reached my weekly connection request limit and couldn't send the request promptly. A lesson learned: Prior to attending such conferences, ensure you haven't hit your weekly connection cap to facilitate immediate LinkedIn networking opportunities.