Twenty lucky students from the Business Administration Division flew to Omaha Neb. Oct. 22 for a Q & A session with legendary investor Warren Buffett.
The trip was a result of an enduring effort from Professor Levon Goukasian who had written a letter to Mr. Buffet five years ago to get Pepperdine students this once-in-a-lifetime opportunity. This year after another follow up letter Pepperdine was given the green light and removed from the waitlist.
Out of the 250 universities that applied only three were chosen to attend the event.
A lifetime entrepreneur Buffett has always had a knack for investing. As a young child he often bought Coca-Cola from his grandfather’s grocery store to resell for a profit. At just 11 years old he bought his first stock. As he grew up he took advice from his mentors Ben Graham and Phillip Fisher and applied them to his personal investing style. Today Buffett is regarded as “the Oracle of Omaha” and one of the most prominent investors in history.
Buffett periodically hosts events with college students in his hometown of Omaha Neb. The event included lunch with Buffett a Q & A with the students tours of a few of Buffett’s companies and a photo opportunity.
Students who were interested in the opportunity submitted a response justifying their spot on the trip as well as a question they would ask Mr. Buffett. Based on student’s rationale and the quality of their question 20 students were chosen.
When describing the experience professor of finance and faculty advisor for the trip Levon Goukasian recalled Mr. Buffett’s genuine nature.
“It went really well better than expected said Goukasian. His sense of humor openness and simplicity— you never expect someone of that caliber to be simple and hang out with students.”
During the question and answer session students asked Mr. Buffet for advice on a wide array of topics ranging from investing to choosing companies making investment decisions and what he would have done differently in his career if given the opportunity.
If he had done anything differently in his career Professor Goukasian recalls Mr. Buffet saying that he would pay more attention to communication skills. That way people could better communicate and deliver their ideas.
Division chair of the Business Administrative Division Jere Yates believes that it is important for students to see Mr. Buffett’s conscious investing nature.
“He is a good role model of a business man who always does his homework said Yates. He never buys a stock that he doesn’t fully understand.”
Buffet’s thoughtful investing style has allowed him to acquire companies including Berkshire Hathaway a company that oversees numerous smaller subsidiary companies including GEICO.
Even before going the students created a Facebook page to communicate with each other about information they found interesting about Buffett.
“It’s not just about that two or four hour window that you have with him said Goukasian. I was positively surprised that most of them had already read about him before going.”
Student’s eagerness to learn coupled with the Business Administration Division’s success in expanding opportunities available to their students made this trip both memorable and eye opening.
Attendee Senior David Ari Marzban found the trip to be inspiring.
“The experience left me eager to communicate and appreciate life with a more quantitative perspective Marzban said.