Yahoo Finance Editor-in-Chief Aaron Task calls it “the Woodstock of capitalism.” Tens of thousands of people will descend on Omaha, Nebraska this weekend to hear from the Oracle of Omaha himself: Warren Buffett.
So why is the Berkshire Hathaway shareholders' meeting such a big deal? “They touch so many different aspects of the economy; It’s a conglomerate," Task said. "There’s nothing else like it in the world of finance.”
Last year Buffett called upon perma-bear Doug Kass to grill him on stage during the meeting. He claims to have found another like him this year but suggested “they must be in hibernation.”
“Nobody wants to be the one against 38,000 people attending this meeting to say some skeptical things and ask some tough questions,” Yahoo Finance Senior Columnist Mike Santoli said. “Last year, by the way, got no traction when Doug Kass was there.”
While his acolytes will hang on his every word, many outsiders are waiting for Buffett to weigh in on the Coca-Cola (KO) executive pay story that he was linked to this week.
It’s only a story “because it was made an issue by an activist investor,” Santoli suggested. “I feel like Buffett could say, ‘I don’t need to gain points by doing this; I can take the CEO in a room and say this doesn’t look good.’”
“I think he took a punt and I think that was a mistake,” Task argud. “He could have done other Coca-Cola shareholders a service.”
So what of substance will we get out of Buffett-palooza this weekend? “He’s gonna strum a ukulele and eat a Dilly bar,” Yahoo Finance’s Jeff Macke said.