The annual pilgrimage to Berkshire Hathaway (NYSE:BRK-A) is coming next weekend, as they ready themselves for about 30,000 people to descend upon the midwest city of Omaha.
Highlighting the event will be the usual, approximate, 5-hour question and answer session with Buffett and Munger.
Along with the endless conjecture on who will succeed Buffett in various capacities, the other major question and revelation will probably be concerning the recently formed bond insurance business, which wasn't talked about in the annual Berkshire shareholder letter.
While Buffett has hinted at a couple of deals already made through the new insurer, he hasn't let out any details of those deals. I'm sure shareholders will want more information on that than anything else.
The new unit is named Berkshire Hathaway Assurance, and was formed in late 2007.
As far as the succession plan, it's like shareholders are deaf to what Buffett has already said, in that there is already a plan in place in case he can't carry out his duties.
One thing for sure, he has said in the past that his son Howard will be installed as the chairman of the board when he either dies or is incapacitated. The reason he gives is to ensure the continuation of Berkshire's culture.
More than likely there will also be questions concerning the housing and credit markets, which shareholders will want to get the Oracle of Omaha's input on.
Buffett has always said he doesn't include macro-economic news as part of his investment strategy, but it will be instructive to hear his thoughts on what is happening to get an overall picture.
As the founder of T2 Partners LLC, Whitney Tilson said, "There's so much nonsense in the investment world in New York that it's always a good opportunity to go out and get our value investing batteries recharged."
Shareholders will definitely get a healthy dose of value investing motivation at the event.
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