Every year, tens of thousands of investors trek to Omaha in Nebraska. The Berkshire annual shareholder meeting is known as the “Woodstock of Capitalism” for the fervor of the investors — some owning only a single share — who travel to Omaha just for the chance to listen to Mr. Buffett and his longtime business partner, Charles Munger.
Several questions zeroed in on politics. Mr. Buffett, a Democrat with a close relationship to former President Barack Obama, gave careful criticism of President Trump’s policies. He made the argument that the American Health Care Act, which passed the House this past week (May 2017), was no more than “a huge tax cut for guys like me.”
When a protester from Germany delivered a long speech criticizing Coke, sugar and capitalism itself, Mr. Buffett said he would continue to drink his favorite beverage, Cherry Coke.
Woodstock of Capitalism. Sports arena. Ca. 20,000 shareholders in the audience. Long Speech. Critical. Not just of Coke and sugar. But of capitalism, also. German.
Source: “Warren Buffett, at Berkshire Meeting, Condemns Republican Health Care Bill.” Michael J. de la Merced. New York Times. May 6, 2017.