The prospect of Berkshire without Buffett tomorrow has, nevertheless, layered an air of apprehension across Omaha today.

The firm’s shareholders diligently travel hundreds, if not, thousands, of miles to hear from the so-called sage of Omaha. Some 93% of the city’s hotel rooms are said to be booked out before each meeting, setting up one of the busiest weekends of the year for its businesses.

Whether Berkshire’s new guard will have the same star power, and pull such vast crowds – without the card-carrying capitalist icons who built it – is a worry for locals.

The challenge facing Buffett’s successors will not just be to shore up profits, but to preserve the passion of Berkshire’s true believers: those still prepared to put their faith in a conglomerate, rather than Reddit tips.

In years to come, on the morning of the firm’s annual meeting, those in charge could do worse than wander Omaha’s streets, and count how many investors remain willing to line up before sunrise for the best seats in the house.

https://www.theguardian.com/business/article/2024/...

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