CNBC: Warren Buffett May Draw Record Crowd in Omaha Despite Berkshire Hathaway"s Stock Drop

Wednesday, December 9, 2009

CNBC: Warren Buffett May Draw Record Crowd in Omaha Despite Berkshire Hathaway"s Stock Drop

Published: Thursday, 30 Apr 2009 | 1:08 PM ET

By: Alex Crippen
Executive Producer

Berkshire Hathaway 2009 Shareholder Meeting

Berkshire Hathaway"s market value may be down about 30 percent since last year"s shareholders meeting, and the economy may be the pits, but Omaha will still be this weekend"s hot destination for Warren Buffett fans.

The Omaha World-Herald notes that Berkshire has issued roughly 100,000 shareholder credentials for Saturday"s get-together at the Qwest Center. That"s 10 percent more than last year, when a record 32,000 attended the "Woodstock of Capitalism."

Berkshire says 35 percent of the people who get a credential actually show up for the meeting, putting the preliminary estimate at 35,000, which would be a new record high.

CNBC"s Becky Quick

CNBC"s Becky Quick will be in Omaha with extensive coverage of the event, starting Friday morning on Squawk Box at 6a ET.

Over the weekend, we"ll bring you the latest news and pictures here on CNBC.com"s Warren Buffett Watch.

Then, Becky will be live again from Omaha Monday morning on Squawk with all the weekend"s highlights.

Becky will also play a key role in the big meeting in the Qwest Center Arena on Saturday.

As Buffett wrote in this year"s letter to shareholders, there will be major changes in the multi-hour question-and-answer session with Buffett and Charlie Munger that highlights the day.

Rather than let shareholders ask questions first-come, first served, which resulted in a "mad rush" to the microphones after the area doors opened, questioners will be chosen in a drawing.

In addition, Becky and two other journalists, will be asking some questions they have selected from those emailed to them over the past two months.

Among the topics we can expect: Berkshire"s succession plans, Buffett"s outlook for the economy, and for the banks, his bet on the Chinese "car of the future", Berkshire"s investments in Goldman Sachs and General Electric, Berkshire"s stock price, and, of course, those controversial derivative positions.

CNBC.com guest-blogger Jeff Matthews, the author of a book about Berkshire"s annual meetings, has also collected the "Top Ten Questions We"d Like to See Warren Buffett Asked" from the readers of his website. Number one: the derivatives!

Current Berkshire stock prices: