Pilgrimage to Omaha; Parsing the Fed: Best of Kass
Among his posts this past week were entries about his trip to Omaha to grill Warren Buffett and the significance of the latest Fed policy statement.
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My Pilgrimage to Warren Buffett's Omaha
Originally published on Sunday, May 5 at 11:04 a.m. EDT.
What a truly amazing 48 hours I had in Omaha.
I will have more on Real Money Pro tomorrow, but let me summarize my once-in-a-lifetime experience.
Upon landing in Omaha on Thursday night, I immediately went to meet Lindsey Bell and TheStreet crew at the Omaha Hilton, right across from the convention center where the Berkshire Hathaway
Lindsey did a nice job in the interview, seeking out not only my emotions but also the main subjects on which I planned to grill The Oracle on Saturday.
I spent the rest of the evening at 801 Chophouse, having an unbelievable steak and editing my questions at the bar and a bit later back at the hotel room.
Friday morning I was on CNBC's "Squawk Box" with Becky Quick and my buddy/friend/pal Mario Gabelli. It was a fun interview on the stage of the convention center that was later to be the locale of the annual shareholders meeting.
Becky asked me how I felt, and I said that I felt like a journeyman pitcher facing my Hall of Famer cousin Los Angeles Dodgers pitcher Sandy Koufax. What is worse is that I faced two terrific hitters. In the No. 3 position in the batting order was Charlie Munger, with a lifetime batting average of .390, and in the cleanup spot was the greatest hitter in the history of Major League Finance, Warren Buffett.
Nevertheless, in my questions on Saturday, I had hoped to throw the duo a few tough curveballs.
She asked me how I prepared. Similar to Mario, I had been researching stocks, but since Berkshire has been under a microscope, I had to do a deeper dive -- almost as an investigative reporter. Fortunately, I had some experience, having been a Nader Raider and co-authoring Citibank with Ralph Nader and The Center for Responsive Law.