Blog post by David Elbert February 3, 2010
Twenty University of Iowa MBA students will travel to Omaha on Friday to join other business students from around the nation in picking the brain of billionaire investor Warren Buffett.
The visit is loosely patterned after the annual meetings of Berkshire Hathaway, the iconic holding company for Buffett’s operations. It includes a 90-minute session with Buffett, along trips to Nebraska Furniture Mart and Borsheim Jewlers, which are owned by Berkshire, and lunch at Piccolo Pete’s steakhouse, a Buffett favorite.
During the 90-minute session with Buffett, he typically shares personal, business and investment advice.
Since U of I students met with Buffett a year ago, a lot has changed, including the economy and Berkshire’s $34 billion acquisition of the Burlington Northern Santa Fe Corp. railroad, Buffett’s largest purchase ever.
The railroad acquisition prompted a 50-1 split of Berkshire’s B shares last month, dropping the trading value of individual shares from about $3,500 a share to $70. The plan was to make the shares more affordable to average investors.
Berkshire’s A shares of stock trade for more than $100,000 each. The A shares have never split nor paid a dividend since Buffett took over management of Berkshire in the 1960s.
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