Coming Soon: “The Warren Buffett Shareholder”

Why do 40,000 shareholders regularly go to Omaha, Nebraska, for the Annual Meeting of Berkshire Hathaway, the company Warren Buffett built? We asked 45 famous recurring visitors to ponder this question and compiled their responsive essays into a book.

The Warren Buffett Shareholder: Stories from Inside the Berkshire Hathaway Annual Meeting,” due out April 20, is the result.

Never before have the shareholders of a public company undertaken to write a book about their experience, notes famed investor Mario Gabelli. But, then, Berkshire and Buffett are famous for being sui generis.

Featured authors include Jason Zweig, Jack Bogle, Robert Hagstrom, Bob Miles, Tom Gayner, Si Lorne, Prem Jain, Bob Denham, Tom Russo, and other best-selling authors, renowned investors, and sage advisers.  [Full by-lines below.]

In the book, these astute observers discern what bonds Berkshire shareholders together, a combination of economic rationality and intellectual community, and delineate the values.

“Smart and engaging” is how the book is described by legendary financial journalist Carol Loomis, which we’d say is just like the shareholders it describes.

Having published 15 books, 60 research articles, and 200 shorter pieces, and edited scores of other works, it is a joy to say I have never had so much fun working on a publication as I have on this book.

I am looking forward to sharing these insights come April 20.  Thanks to all our wonderful contributors, a “Who’s Who” in corporate life:

Contributors

Charles T. Akre is the Managing Member, Chief Executive Officer, and Chief Investment Officer of Akre Capital Management, LLC in Middleburg, Virginia.

Keith Ashworth-Lord is Managing Director of Sanford DeLand, an asset management firm based in Manchester, England.  Keith is the author of Invest in the Best.

Phil & Beth Black are co-owners and operators of The Bookworm, Omaha, Nebraska, which they founded in 1986.

John C. Bogle is the Founder of Vanguard, based in Valley Forge, Pennsylvania. Jack is the author of many books, including The Little Book of Common Sense Investing.

Patrick T. Brennan, CFA, is the Founder and Portfolio Manager of Brennan Asset Management, LLC, a concentrated value investing firm based in Napa, California.

Randy Cepuch is the author of A Weekend with Warren Buffett and Other Shareholder Meeting Adventures.

Stephanie Cuba is a real estate consultant based in New York City, and serves on the board of Brooklyn Excelsior Charter School and the advisory council of the Montefiore Medical Center/Einstein College of Medicine.

Lawrence A. Cunningham is a Professor at George Washington University, Founding Faculty Director of GW in New York, and a Director of Constellation Software Inc. Larry is the author of many books, including Berkshire Beyond Buffett.

Robert E. Denham is a Partner in the Los Angeles office of Munger, Tolles & Olson, LLP, a law firm which frequently represents Berkshire Hathaway. Bob is also a member of the boards of directors of Chevron Corporation; The New York Times Company; FEMSA; and Oaktree Capital Group.

Thomas S. Gayner is a Director and Co-Chief Executive Officer of Markel Corporation in Richmond, Virginia. Tom is a Director of Cable One, Colfax, and Graham Holdings; and Chairman of Davis Funds.

Joel Greenblatt is the Founder, Managing Principal, and Co-Chief Investment Officer of Gotham Capital, New York City, and a Director of Pzena Investment Management, Inc. Joel is the author of several books, including The Little Book that Beats the Market.

Robert G. Hagstrom, CFA, is the Senior Portfolio Manager of the Global Leaders Portfolio at Equity Compass Strategies, an asset management affiliate of Stifel Financial Corporation. Robert is the author of The Warren Buffett Way.

Raymond Buck Hartzell is the Director of Investor Learning and Operations at The Motley Fool, based in Alexandria, Virginia.

Ingrid R. Hendershot, CFA, is the Founder, President, and Chief Executive Officer of Hendershot Investments, Inc., Bristow, Virginia. She is the Editor of Hendershot Investments, a quarterly newsletter for long-term investors.

Mark Hughes is the Director of Equity Research at Lafayette Investments in Ashton, Maryland.

Prem C. Jain is the Elsa Carlson McDonough Chair of Accounting and Finance at the McDonough School of Business, Georgetown University, Washington DC. Prem is the author of Buffett Beyond Value.

Thomas Johansen is a Professor in the Department of Economics, Finance, and Accounting, Fort Hays State University, Hays, Kansas.

Steve Jordon is a Business Reporter for the Omaha World Herald, where he has worked since 1967.

David Kass is a Clinical Professor in the Department of Finance at the Robert H. Smith School of Business, University of Maryland.

Vitaliy Katsenelson is the Chief Executive Officer and Chief Investment Officer of Investment Management Associates, Inc., a value investment firm based in Denver, Colorado. Vitaliy is the author of The Little Book of Sideways Markets.

Karen Linder is President and Chief Executive Officer of Tethon 3D, a 3D printing company, and Principal of Linseed Capital, a private investment firm. Karen is the author of The Women of Berkshire Hathaway.

Simon Lorne is Vice Chairman and Chief Legal Officer of Millennium Partners, New York City. A former partner of Munger, Tolles & Olson, Si also serves as chairman of the Alternative Investment Management Association.

Thomas J. Manenti retired in 2018 as the Chairman and Chief Executive Officer of MiTek Inc., a Berkshire Hathaway company based in St. Loui, where he had worked since 1977.

Jeff Matthews retired in 2017 as the General Partner of Ram Partners LP, where he had served since 1993. Jeff is the author of several books, including Pilgrimage to Warren Buffett’s Omaha.  

Tim Medley is a Partner at Medley & Brown, a financial advisory firm in Jackson, Mississippi, and a Director of the Sequoia Fund, Inc.

Robert P. Miles is an Executive in Residence at the College of Business Administration, University of Nebraska Omaha. Bob is the author of several books, including The Warren Buffett CEO.

Olza M. (Tony) Nicely is the Chairman and Chief Executive Officer of GEICO, a Berkshire Hathaway company, where he has worked since 1961.

Shane Parrish operates the farnamstreetblog.com.

Daniel Pecaut  is the Chief Executive Officer of Pecaut & Company, an investment firm based in Sioux City, Iowa. Daniel is the co-author, with Corey Wrenn, of The University of Berkshire Hathaway.

John Petry is the Founder and Managing Member of Sessa Capital LLP. He serves on the board of the Success Academy Charter Network.

Laura J. Rittenhouse is the Chief Executive Officer of Rittenhouse Rankings, Inc., an investor communications and coaching firm, and author of several books, including Investing Between the Lines.

Francois Rochon is the Founder, President and Portfolio Manager of Giverny Capital based in Montreal, Canada.

Jim Ross is the Manager of the Hudson Booksellers store at Eppley Field in Omaha.

Thomas A. Russo is the Managing Member of Gardner Russo & Gardner LLC, serving also as General Partner of Semper Vic partnerships.

Andrew Steginsky, CFA, is the ‎Founder and Managing Director of ‎Steginsky Capital LLC in New York.

Macrae “Mac” Sykes is Senior Research Analyst, Gabelli & Company in Rye, New York.

Phil Terry is the Founder and Chief Executive Officer of Collaborative Gain, Inc., which runs leadership programs, and of Reading Odyssey, a lifelong learning nonprofit organization.

Charlie Tian is the Founder and Chief Executive Officer of GuruFocus.com.  He is the author of Invest Like a Guru.

Whitney Tilson is the Founder and Chief Executive Officer of Kase Learning, through which he teaches seminars on value investing, entrepreneurship and worldly wisdom. He was a contributor to Poor Charlie’s Almanack.

Bruce N. Whitman is the Chairman, President, and Chief Executive Officer of FlightSafety International, a Berkshire Hathaway company, where he has worked since 1961.

John R. Wingender is a Professor and Chairman of the Department of Economics and Finance at the Heider College of Business, Creighton University.

Jason Zweig writes The Intelligent Investor column for The Wall Street Journal. He is the editor of the contemporary edition of Benjamin Graham’s classic book, The Intelligent Investor.

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