After a two-year pandemic-induced haitus, the only shareholder meeting of its kind on the planet is back and could break its own stunning record. Tens of thousands from around the world will descend on Omaha, Nebraska--the birthplace of the 'Oracle of Omaha,' a.k.a. Warren Buffett.
All four will come armed with a stock performance shareholders are sure to cheer: over the past twelve months, Berkshire shares have returned 30% vs. the S&P’s 8%. With a net worth of $120 billion today, Buffett is the sixth richest person in the world but when he started his investment company back in 1965, he was just the Nebraska neighbor next door, so shy he forced himself to take the Dale Carnegie course ‘How to Win Friends and Influence People’ so he could face potential investors.
The chintzy returns haven’t thrilled investors who have already asked why he hasn’t put the money to work. Yes, he’s done share buybacks, $27 billion last year alone, but that’s barely made a dent. Buffett refuses to pay a dividend, preferring instead to reinvest earnings in new businesses, and yet, he also complains that there isn’t much out there that checks his boxes *and* isn’t overvalued.
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