Korean dia poured out articles about Warren Buffett’s visit to the Blue House, which was not even confird, yet they hardly covered the fact of my eting with him.
In the process of reporting my eting with Chairman Im Jin-yong, they briefly ntioned that there might be a eting with OTK Company but moved on quickly.
In contrast, foreign dia focused heavily on this fact. CNN suggested that Warren Buffett’s visit to Korea might be to et .
“Sounds plausible. Is he really coming to Korea just to et you?”
“Hmm.”
Is that really the case?
Requests for interviews from foreign dia regarding OTK Company kept coming in. Reporters asked what the purpose of the eting with Warren Buffett was and what topics we would discuss. Since I had no idea, I turned down all the interview requests.
It seems that having lunch with Warren Buffett is a big deal.
Once a specific date was set, the mood at the company was lively.
Senior Sang-yeob emphasized our connection from club days and urged to take him along, while Michael Lee ca up to the CEO’s office and lightly ntioned, “I heard you’ll be having a al with Warren Buffett. I’ve liked him since I was a child. He was like a superhero to .”
“So?”
“Just saying.”
“…….”
If you want to go, just say you want to go!
That wasn’t the end of it.
“I thought it might be needed, so I surveyed the staff to see if anyone wanted to attend the lunch with Warren Buffett.”
“Oh, really?”
Do you really have to? I hadn’t even asked for it!
Senior Gi-hong smiled brightly and said, “Everyone, including , has expressed a desire to attend.”
After receiving the survey, it included whether participants would attend and their reasons for wanting to join. Everyone put effort into writing their reasons.
“….”
Honestly, it felt like a pointless survey.
If all these people attend, won’t it just turn into a company dinner instead of lunch with Warren Buffett?
What should I do about this?
I called Berkshire Hathaway.
“I have a ssage for Chairman Warren Buffett.”
[Just tell , I am Warren Buffett.]
I was taken aback by that response.
“Really?”
Co to think of it, his voice did sound similar.
[Haha, I’ve asked OTK Company to connect calls to directly. Nice to et you, CEO Kang Jin-hoo.]
“Oh, yes. Nice to et you too.”
I couldn’t believe I was talking to Warren Buffett. Surely, he wasn’t joking?
I cald my excitent and explained the situation.
When I ntioned how the employees were eager to et him, he thought for a mont and replied.
[How about this? After the al, I’ll stop by OTK Company to spend so ti with the employees.]
“I appreciate that, but will you be okay with it?”
[Of course. I’ve wanted to visit OTK Company for a while, so it works out perfectly.]
“The employees will be thrilled.”
[Then I’ll see you in a few days.]
After the call ended, I inford the employees about the news. They cheered and raised their arms in excitent.
Warren Buffett’s popularity in the financial industry is at this level.
***
Our team mbers are , Taekgyu, Ellie, Hyunjoo Noona, and Henry.
The reason for including Henry is his personal connections with Jas C. Goldman and Warren Buffett.
So, Henry has t Warren Buffett a few tis.
On the day of the appointnt, we decided not to go to work and to gather at ho.
Since Warren Buffett is such a famous person and it’s been a long ti since his visit, he will attract attention wherever he goes, and the press will follow him.
Therefore, we decided to invite him ho and serve a al. An outdoor table and barbecue grill were set up in the garden, and the chef was invited from Ceylon Hotel.
He said any nu would be fine, but there was one specific request: to prepare Coca-Cola.
“Is Pepsi not okay?”
“No, it’s not.”
Because Berkshire Hathaway is the major shareholder of Coca-Cola. For reference, Coca-Cola’s headquarters is in Atlanta, close to Edens.
Warren Buffett’s love for Coca-Cola is well-known.
Jokingly, he claims his secret to health is due to Coca-Cola, and during shareholder etings, he proudly holds a Coca-Cola can.
This could be because he genuinely likes it, but there’s likely a purpose to promote his subsidiary as well.
“How about we play a FaceIt video at the shareholder eting as a statent?”
“……”
Then both of us would probably be arrested for distributing pornography.
FaceIt is a pornographic site and has been designated as a harmful site in Korea, with access blocked.
Surprisingly, however, 8% of paid subscribers are Korean! (It seems they sohow manage to bypass the restrictions.)
“But anyway, there are only three shareholders.”
It’s just , Taekgyu, and Hyunjoo Noona. It might increase if we include subsidiaries, but they are all non-listed companies as well.
“Do many people attend the Berkshire Hathaway shareholder eting?”
“It’s almost like a local festival.”
Every year, tens of thousands of people flock to Eden to see Warren Buffett in person.
At the annual eting, not only Berkshire Hathaway executives but also subsidiary managent actively share their managent performance and vision with shareholders.
This is a stark contrast to major corporations in our country that treat minority shareholders like invisible entities. They plead for help when their managent is threatened.
“Do you know how much one share of Berkshire Hathaway costs?”
“How much?”
“As of yesterday, Class A shares were just under $300,000.”
The price of one share exceeds 300 million won. Thankfully, Class B shares are sowhat cheaper at one-tenth the price, but they’re still expensive.
“What makes it so expensive?”
“Because the company has experienced explosive growth.”
Currently, it’s ranked sixth in U.S. market capitalization. For reference, the companies above it are all IT firms like Apple or Google.
“What on earth did they do to make that money?”
“They’re quite similar to us.”
Since I followed their lead, it’s only natural that we should be alike.
Warren Buffett’s investnt strategy is extrely simple and can be followed by anyone: buy good stocks at a low price and hold them for a long ti.
The problem is that it’s not as easy as it sounds…
“Do they not deal with derivatives?”
“While they’re not completely against short selling or futures options, it’s more about hedging than investing.”
Taekgyu thought deeply and then remarked.
“Still, based on recent performance, aren’t you doing better?”
I nodded.
“You might have a point when looking only at returns over the past few years.”
But…
Many people achieve significant success in the market in a short ti. However, only Warren Buffett has consistently generated steady profits over decades.
It’s common for once-successful investors to later face declines.
Even notorious hedge fund mogul George Soros, who had great success during attacks on the British foreign exchange market and the Thai foreign exchange market, suffered astronomical losses during the Russian moratorium and the dot-com bubble collapse.
In contrast, Warren Buffett has steadily achieved around a 20% return for decades with few major failures.
Considering that there have been nurous significant financial crises during this ti, such as the oil shock, the dot-com bubble, and the subpri mortgage crisis, this is nothing short of miraculous.
Perhaps we won’t see another investor like him in history?
“But you have more wealth than he does.”
“Maybe it’s similar.”
OTK Company is privately held, and most of the companies I own shares in are also private. Therefore, accurately assessing their value is challenging.
However, even at a low estimate, it exceeds $100 billion. Just the value of CarOS alone is evaluated at $80 billion.
If that’s the case, my wealth is roughly $80 trillion. At this level, I would easily rank within the top five of the world’s richest.
Taekgyu patted on the shoulder and said, “Forget Warren Buffett; to , you’re the best investor.”
“Do you really believe that?”
“Of course, I’m only saying that because I don’t know any better.”
“…”
A mont later, Henry arrived ho first, with his hair neatly styled and looking quite sharp. I’m not sure if it’s because of Hyun-joo noona or Warren Buffett.
When I asked how long it had been since we last t, Henry replied, “I first t you during junior high school, and I’ve seen you a few tis since then. The last eting was about three years ago.”
Soon, Hyun-joo and Ellie arrived.
“We’re here!”
“Welco!”
Hyun-joo was dressed neatly in a white blouse and black high-waisted skirt, just like when she was working.
In contrast, Ellie wore a pleated skirt with a sky-blue blouse and sandals, looking fresh as if she had co for a picnic.
Her hair had grown quite a bit, nearly touching her shoulders.
Hyun-joo asked, “When will they arrive?”
“We left the airport earlier, so it should take about an hour.”
Warren Buffett’s visit to Korea was a big issue by itself.
Countless reporters and cheering crowds gathered at the airport. The scene of Warren Buffett arriving, greeting people, and getting into a car was broadcast live.
The car he was in was heading straight to our house.
Hyun-joo looked a bit nervous. In contrast, Taek-gyu seed very relaxed.
“Relax, sister.”
“Shut up.”
Ellie said with a smile, “I never thought I’d get to et Warren Buffett in my lifeti.”
I nodded. “Honestly, I feel the sa way.”
***
During my school days, I used to fantasize about this.
After getting a job and saving money, I would buy Berkshire Hathaway stocks. Since Class A shares were too expensive, I’d start with Class B. Then, I’d receive my shareholder eting attendance certificate, go to Eden, and confidently ask Warren Buffett questions.
But now, that’s no longer necessary.
In front of stood the greatest investor alive.
He had white hair combed back to reveal his forehead and wore black-rimd glasses. Just by appearance, he looked like a kind old white gentleman.
When Taek-gyu muttered that he resembled the grandfather in front of the chicken shop, Hyun-joo, standing next to him, poked him in the side to shush him.
Warren Buffett greeted warmly, extending his hand.
“Nice to et you, I’m Warren Buffett.”
“Pleased to et you, I’m Jinhoo Kang.”
Warren, holding my hand, smiled and said, “I’ve wanted to et you for a long ti, Mr. Kang.”
“I’ve always wanted to et you as well.”
I couldn’t believe the situation.
Warren Buffett was standing in my backyard! Is this how fans feel when they et their favorite celebrities?
He was born in the 1930s and is currently 86 years old. He looked remarkably healthy for his age.
Anyone who has invested in stocks knows the stress that financial investors endure is beyond imagination.
Of course, since they value the intrinsic worth of companies and invest for the long term, they don’t get overly excited or depressed by short-term stock fluctuations… but it’s easy to say. How many can maintain composure when stock prices fluctuate right in front of them?
It’s only fitting that he is respected for staying healthy and active in the field until now.
Taek-gyu greeted him cheerfully.
“You must have had a tough ti coming all the way to Korea.”
Warren jokingly replied, “It looked like the pilot flying the plane had a much tougher ti than I did.”
Next, he greeted Henry.
“It’s been a while since we last t.”
Warren happily embraced him.
“Oh, Henry! How long has it been? You seem to have grown taller. You should be done growing now. Are you doing well in Korea?”
“Yes, I am. I hope you’ve been well as well?”
“Haha, I’ve always been well. I’m delighted to see you in Korea.”
Next, he shook hands with Hyunjoo, my sister.
“Nice to et you. I’m Jessica Oh, the head of the Golden Gate Korea branch.”
Surprisingly, Warren already knew about Hyunjoo.
“I’ve heard a lot about Director Oh. Are you aware that many investnt firms on Wall Street are eager to scout you? If you aren’t happy with Golden Gate, you can always co to Berkshire Hathaway. We will always have a place for you.”
“Thank you for your kind words.”
Trying not to show it, Hyunjoo’s face clearly showed her delight. Seeing that, Taekyu looked eager to tease her.
Lastly, Ellie introduced herself.
“Hello. I’m Ellie Kim from the legal team at the Golden Gate Korea branch. I’ve only seen you on TV, and seeing you in person makes you even more impressive.”
Warren burst into laughter.
“Haha, thank you. It’s been a while since I received complints about my appearance instead of my investnts.”
After the introductions, we sat down.
The lunch with Warren Buffet, which soone said costs 4 billion won, began.
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