Omaha

其实昨天就从Omaha回来了，不过一回家就看到定的iPad已经寄到，自然要忙活一会，博客的事就。。。关于股东大会上讲的东西，相信关心的人都已经从各种媒体上看到了，我不想在此重复。说一些和投资没那么直接相关的事： 1. 一个4万人的会，有人早上两三点就在那儿排队了，就为了占个好位置。

Source: http://nteswjq.blog.163.com/blog/static/126998120104412925267/

Omaha

> By Duan Yongping · his NetEase blog (nteswjq.blog.163.com, now closed; read from web archives) · 2010-05-04 · [Original link](http://nteswjq.blog.163.com/blog/static/126998120104412925267/) ([archived](https://web.archive.org/web/20100509112747/http://nteswjq.blog.163.com:80/blog/static/126998120104412925267/))

Actually I got back from Omaha yesterday, but as soon as I got home I saw the iPad I'd ordered had arrived, so naturally I had to fiddle with it for a while, and the blog...

As for what was said at the shareholder meeting, I believe those who care have already seen it in all kinds of media; I don't want to repeat it here.

Let me talk about some things not so directly related to investing:

1. At a 40,000-person meeting, some people were queuing from two or three in the morning just to get a good seat. We got to the entrance at 6:45, and walking from the entrance to the end of the queue actually took over 10 minutes. Throughout, I didn't see anyone cut in line. People started going in around 7:30, and friends who arrived early said they didn't see anyone running inside to grab good seats either. I heard the order at the World Expo a few days ago was also very good.

2. I paid a little attention to the people attending; a few things may be a bit interesting:

a. There were still lots of old people, but the proportion seemed to have fallen a bit this year compared with the year before last (I didn't go last year);

b. The proportion of Asians continues to rise, probably over 5% by now, mainly Chinese and Indians;

c. There were basically no Black people, the same as the year before last. The year before last I specially counted the Black people I could find in the hall; it took nearly 20 minutes and I saw only 6. (This only describes a phenomenon; nothing else is meant.)

d. The people attending all seemed quite happy (a somewhat too subjective impression);

e. Most men were in formal or semi-formal wear, while I was in casual clothes. (The second day I wore formal clothes too.)

I wonder whether blog friends who also went have anything to add.

3. Probably the most attractive part of the shareholder meeting each year is the film shown starting at 8:30, because that's the only time the hall is fullest;

4. The 80-year-old Buffett and 86-year-old Munger talked (including answering questions) for nearly 6 hours at the meeting, and seemed to be in excellent health. When I saw them the next morning, they still seemed very energetic, without the slightest sign of fatigue.

It suddenly struck me that value investing may be a good way to live long.

On the 5th I'm going to hear Munger speak; I've never been before.

By the way, the book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger is good, and Li Lu's preface is very well written too. I flipped through it and feel I should read it properly.