NEW YORK (TheStreet) -- Famed investor Warren Buffett has been running Berkshire Hathaway (BRK.A) (BRK.B) for 50 years and there's excitement brewing over the company's annual meeting May 2nd.  

Mario Gabelli, another famed investor and CEO of Gabelli Asset Management Company Investors, will be among those in attendance. Speaking in Omaha, Gabelli says there isn't really anything he would have wanted Buffett to do differently over the years. 

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Gabelli has been a long time owner of Berkshire stock and hasn't wavered much over the years. Even when stocks were flying higher in 2000 and Buffett was missing the frenzy because he didn't understand most of the companies going public, Gabelli stayed the course and held onto his shares of Berkshire Hathaway.

At the time, they were trading for about $40,000, he said. Today those shares are worth over $215,000. 

BRK.A Chart
Berkshire Hathaway BRK.A data by YCharts

People will criticize anything or anyone and Buffett isn't an exception, he said. Some will nitpick his lack of investments in technology stocks or the fact that the company doesn't pay a dividend. 

But according to Gabelli, he would prefer Buffett to keep excess cash and use it to generate a better return on capital rather than pay out a dividend. And although some may criticize Berkshire's slowing growth rate, Gabelli had a different approach.

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