Puffett lovers say goodbye to her “Hajj”

Mcalester is known as drilling.

He traveled from his home in Verp, Alabama to attend the annual shareholders ’meetings of Hathaway in Omaha, Nebraska since the financial crisis. He is lining up with friends outside the huge conference center at about 2 in the morning, to intense a major place to hear Warren Buffett’s instructions closely.

But this year Mcallister has reached the dark to find a handful of his shareholders who have already set up a camp with bags – the closest thing he saw at all.

“There was a lot of concern that it might be the last meeting of Varne,” said McAelster.

Those concerns were confirmed hours later when 94 -year -old Puffett told the crowd that he would step down as an executive of the sprawling bloc after six decades.

Pavite collected several thousand worshipers for something more than his investment acumen. Although he rarely amazes politics, he spends hours in annual meetings answering questions from shareholders on how to lead their lives – financially and so on – and the way he believes that the global economy may go.

“He is a great inspiration for many people,” said Larry Knight, who traveled from Ohio at his first meeting this year. “We knew this might be coming, and for this reason we came this year.”

The meetings were a tradition since 1965. At that time it was small, with only two or three people appearing for an event in an old upper role over a textile factory in New England, Berkshire. The meetings were eventually transferred to Insurance Cavtreia – where Buffett’s biographical writer wrote that in 1981 only 22 people attended. The employees have been rounded so that the room does not appear empty.

They are now attracting tens of thousands from all over the world keen to hear the corrupt advice of a man called “Oracle Omaha”, who built a wealth of $ 168 billion and a reputation as one of the greatest investors in history. The shareholders who returned year after year built friendships and networks here, making the annual events a kind of reunification.

Many were afraid that this moment is coming. Pavite delivered it unofficially, as it slipped in the advertisement during the last five minutes after receiving questions for about four hours. It seems that it is a surprise even for Greg Abel, his wiped successor, who will assume his duties at the end of the year.

“Greg does not know anything about this until he hears it now,” Pavit said to the crowd.

It was an impressive end of an event that became a festival as much as the shareholders meeting. With a multi -day shopping event that includes Berkshire’s wallet companies, a large picnic, a 5K operating event, often called the “Woodstock for capitalists”.

Starting on Friday, many Berkshire portfolio companies – including Dairy Queen and Geico Geico Insurance and Loom clothing seller – compartments were created, reduced commodities for shareholders and their guests. Long Links was involved around the conference center on Friday afternoon, as the shareholders and executive director of the conservative companies bought both weapons of products.

Downtown Omaha was full of Berkshire’s clients of all ages and backgrounds. On Friday night, Station was wandering around the city with the jugglers who are eager to meet his colleagues from Pavite’s lovers.

For many, the meeting was emotional even before Buffett announced retirement plans. Robin and Natalie Henrix, who live in Sydney, Australia, attended the first time in the honeymoon 15 years ago. Pavit himself mobilized financial evidence in his car box when he left the city to celebrate his first wedding. This year, Henriestan brought their 9 -year -old daughter Valentina.

Natalie said: “We love to return and be part of this. It is a little pilgrimage.” They said that they were still shocking from the news that he would step down soon. “I got a little tears.”

Thousands of investors attending the Berkshire meeting every year have a Pavite to thank the increasing amounts of modest investment in small wealth. Sherrill Willis – who was just a degree regardless of Susan Buffett, daughter of Warren Buffett, at the Umaha Central Secondary School – and her husband Gary bought for the first time Berkshire stocks years ago.

Willis said: “It benefits our legacy: our children and grandchildren.” “One of the grandchildren goes to Liola in Chicago, and keeps all our children and grandchildren on professional paths.”

Although ABEL is preparing to take Berkshire’s head, the spouses do not have plans to sell their shares, taking a signal from one of the Buffett Brufft decrees in the long run.

“I think Abel will follow investment plans in Berkshire,” said Gary. “At one time, I was afraid that the arrows would decrease when Buffett descends. But I think he would go out and go up.”

After Pavit out of the theater, hundreds of shareholders remained in the arena for the official meeting with a vote to follow up. Initially, Abel was holding the court alone.

PEG and Nelson Ratcher, who had been transferred from Denver, sat in their main seats on the ground to take everything.

“I am very happy that he is doing it this way,” said Big, 73, said.

“There were 40,000 hands thanks.”

Additional reports by Eric Platt