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Wallace Weitz: The Buffett Connection

October 11, 2005 | About:

I started going to Berkshire Hathaway annual meetings when they were in the National Indemnity lunch room and there were maybe six outsiders, says Weitz. I dont know that I learned anything then that others who have followed Warren have caught on to 20 or 30 years later, but I was fortunate to have caught on to it early.

Also fortunate was Weitzs decision soon after he moved to Omaha to buy into Berkshire at $300 per share. I sold a few at $600, thinking I could get back in at $400,but generally Ive been long since about 1975 or so, he says. Berkshire, now at $83,200 per share, remains his firms largest holding.


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