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Buffett is a rock star at 'Capitalists' Woodstock'

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The Associated Press

Published: April 30, 2009

OMAHA, Neb. - Billionaires Warren Buffett and Charlie Munger will spend most of Saturday at Berkshire Hathaway's annual meeting dispensing sage advice on finance, the recession and life, and roughly 35,000 people are expected to pack an arena and overflow rooms at a nearby hotel to listen.

Berkshire's chairman and vice chairman will spend more than five hours answering any and all questions at the holding company's shareholder meeting, which Buffett likes to call the "Capitalists' Woodstock."

Andy Kilpatrick, the stockbroker-author of "Of Permanent Value, the Story of Warren Buffett," said he thinks many people want Buffett to reassure them about the economy.

"I think people want to be told we will come through this financial meltdown," Kilpatrick said.
Morningstar analyst Bill Bergman said Berkshire's assortment of companies gives Buffett insight into the health of the economy.

"Berkshire's going to be a good window on society, and that's a good reason the annual meeting is going to be interesting," he said.

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