Measuring Success by the Company You Keep


On November 3, a group of 40 students and two faculty members from the College of Business went to Nebraska to meet the “Oracle of Omaha,” Warren Buffett.  This is the college’s second annual meeting with the investing great, but the college has had other links with Buffett in recent years.  
  
The Department of Finance offers a unique elective course, "The Investment Strategies of Warren Buffett," that focuses on the investing principles of Buffett and his company, Berkshire Hathaway, which currently has a market value exceeding $150 billion. The class is exceedingly popular with MU students and was recently covered in a CNBC-produced profile of Buffett.
 
MU is also one of a select group of universities invited by Buffett to spend part of a day with him in Omaha.  The
Andy Kern, a doctoral student in finance, shares his own
investing secrets with Buffett.
students learn from tours of Berkshire Hathaway businesses, such as Nebraska Furniture Mart and Borsheim's Fine Jewelry, a question-and-answer session, and a lunch with Buffett. 
 
The Buffett-focused course and the trip to Omaha for MU students have been facilitated and sponsored by Harvey Eisen (BS BA ’64).  Eisen suggested the course in 1997, after years of studying Buffett’s investment strategies and putting them to good use with portfolios he managed. His hope was to allow students to learn practical principles that would remain with them throughout their careers.  
 
One student who has been greatly inspired by Buffett is Andy Kern.  An MU doctoral student, Kern has been on the field trip to Omaha and has taught the Buffett course.  And he practices what Buffett preaches.  From admirer to Berkshire Hathaway shareholder, Kern has set up his own investment management business and writes about his Buffett lessons on berkshireruminations.blogspot.com/           
 
Buffett has also been linked to the college through several of its distinguished speakers.  On the same day the group of MU business students boarded the bus to Omaha, Barnett Helzberg, former chairman of Helzberg Diamonds, came to campus to present a Scott CEO Forum.  During his talk, he told the story of how his family-owned jewelry chain was sold to the famed investor.  The students also visited TD Ameritrade while in Omaha.  Joe Moglia, CEO of the company, visited the college last year to speak at a Scott CEO Forum and also mentioned his acquaintance with Buffett (he told an exciting story about a poker game that included Buffett, Bill Gates, and several less wealthy players, including himself!).
 
Perhaps the connection the college is proudest to claim is Buffett’s endorsement of the MU finance program.  During the Q&A session at the May 2006 Berkshire Hathaway shareholder meeting, Buffett was asked to list the top five finance programs in the nation.  He included University of Missouri-Columbia in the list, in the company of schools like Stanford University and Columbia University.  That is an endorsement that the college gladly accepts – and now shares with you. 

Last Edited: 11/26/2007