Want To Have Lunch With Buffett? It Will Cost You (EBAY, AXP, KO, JNJ, PG, WFC, BRK.A, BRK.B)
While it might be hard for most investors to know exactly what happens on a daily basis at Warren Buffett’s Berkshire Hathaway, one lucky bidder will soon land the chance to eat lunch with the legendary value investor. Bidding for the 12th annual steak lunch with Buffett kicked off last night on eBay (EBAY) and the current bid is already up to a whopping $1.51 million, according to the online auction site.
Regardless of the size of the winning bid, the bidder should not expect Buffett to divulge potential acquisition targets for Berkshire or for the Oracle of Omaha to opine on specific Berkshire Hathaway (BRK.A, BRK.B) holdings such as American Express (AXP), Coca-Cola (KO), Johnson & Johnson (JNJ), Procter & Gamble (PG) or Wells Fargo (WFC), all of which were found in the firm’s equity portfolio at the end of the first quarter.
The proceeds are donated to charity and the bidding closes at 7:30 PM Pacific time on June 10. Last year’s winning bidder, who chose to remain anonymous, paid a record $2.63 million to have lunch with Buffett at New York’s Smith & Wollensky steakhouse, according to the Wall Street Journal.
Previous auction winners have included noted hedge fund manager David Einhorn and Hong Kong fund manager Zhao Danyang, the Journal reported. Bidding for the lunch started at $25,000 and bidders had to be pre-screened to verify that they could really afford the lofty price of lunching with perhaps the most famous investor in history.
If you want to see how your performance stacks up against Buffett’s or just view some of the firm’s top holdings, visit tickerspy.com to view the firm’s latest disclosed holdings and a chart of their combined performance.
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