The cult of Warren Buffett has moved into high gear in Omaha, Nebraska as thousands of his admirers poured into the Midwestern outpost in preparation for Berkshire Hathaway's annual meeting today. Across the city, shareholders gathered in anticipation.
"It's just like Woodstock. Everyone's so excited," said Chuck Line, an Omaha-based financial adviser for fund manager Waddell & Reed, who has owned Berkshire shares personally since 1987. "He is just the most amazing person."
Buffett, the world's second-richest man, known to devotees as the 'Oracle of Omaha', has generated an almost religious following for his ability to make investors rich, through his tried and tested approach of buying stocks cheap and holding on to them.
Thousands of his Berkshire shareholders have become millionaires as the firm's stock has risen 4,000 fold since the 1960s.