NEW YORK (Real Money) -- As usual this time of year, one would be hard-pressed to find a hotel room within 100 miles of Omaha, Neb., and even then, it would be triple the normal rate.
This weekend marks the annual value investor pilgrimage to the Berkshire Hathaway (BRK.A) (BRK.B) annual meeting. I suspect close to 50,000 people from all over the world are coming into Omaha for Warren Buffett's legendary gathering.
This meeting should be somewhat special as it will be the 50th anniversary of Buffett's control of Berkshire. The theme is "50 Years of a Profitable Partnership," and it's grossly understated.
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Most are aware of the staggering returns that Berkshire has produced, so I will keep the math very simple. When Buffett took control of Berkshire, the stock was trading for under $8 per share. Today, the company's Class A shares trade for around $215,000. The last 50 years have not been just a profitable partnership for Berkshire holders, they have been a fortune-creating partnership.
So what can investors expect from the six hour-plus Q&A session this time? Given that this year's annual letter was more revealing as to Berkshire's future, I suspect there may be some discussion about a future dividend, share buybacks, and, of course, succession. Yet, I don't expect Buffett to reveal anything new as that has been his policy.