Finance guru Warren Buffett, the worlds second wealthiest man, met with Smith students on May 22 as part of a trip organized by the school's Finance, Banking and Investment Society, an undergraduate student group. Buffett answered questions from 48 students for several hours at his office in Nebraska.
"I've been planning the specific logistics and details of the trip since November 2004," said Shai Dardashti, a senior finance major. "More importantly, however, I've been reading about Warren Buffett since I was 13 and started writing letters to him in 2000."
Questions ranged from the economy in China and outsourcing/off-shoring to the value of business schools and what qualities are important in a CEO. Buffett gave tips on investment strategies, 401k plans, hedge funds, real estate, and how to find the best investments.
Warren Buffett provided some great insights to the students about to embark on their professional careers, said Asher Epstein, managing director of the Dingman Center for Entrepreneurship, who accompanied the students. "Get on the right train early, Buffett said. 'Don't go into the buggy whip business. He encouraged students to show passion for their work and stressed the importance of desire, energy and integrity to be a success.
After the Q&A session the students went to lunch at one of Buffett's favorite restaurants, Gorat's Steak House. Also during the trip, students heard a panel discussion, titled "The Human Side of Warren Buffett" and had a private tour of Borsheim's, a Berkshire Hathaway owned jewelry store, led by the company's chief financial officer.
"The meeting was phenomenal. We had a private Q&A with the world's second richest person for an hour and a half, then lunch," says Dardashti. "Warren actually drove students to lunch, so I got a private ride in his Town Car, and plenty of pictures."
For more information about the Finance, Banking and Investment Society, visit:http://www.rhsmith.umd.edu/organizations/fbis/About.htm.
Related story in The Diamondback.
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About the University of Maryland's Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.