Given the state of today’s economy and job market, a few names come to mind when thinking of people from whom to seek advice. World-renowned investor, businessman, and philanthropist, Warren Buffett tops the list for most.
Everyone—from President Barack Obama to Yankee Alex Rodriguez to MBA students alike—wants to learn the secrets of success from the Berkshire Hathaway chairman.
On March 27, 2009, twenty-seven MBA students from George Mason’s School of Management visited Buffett in his hometown of Omaha, Nebraska. Buffett regularly invites groups of MBA students to spend the day with him and this was the second time in three years Mason received an invitation to bring students.
After starting the day with a tour of a Berkshire Hathaway subsidiary, the students had a two hour question and answer session with Buffett. Unscripted and uncensored, students were free to ask questions on any topic and received candid responses in return.
“I believe the greatest benefit for our students was the opportunity to ask Mr. Buffett unscripted questions and observe how he handled them. I expect that they were impressed with how open he was, including acknowledging his own mistakes, and the importance he places on high quality people,” said Bob Johnston, associate professor of finance, who accompanied the MBA students on the trip.
The Q&A session was followed by lunch at Piccolo Pete’s, Buffett’s favorite restaurant, and a lengthy photo session in which Buffett posed for pictures with each student. The day was filled with advice, stories, and a lot of good humor.
“Mr. Buffett went above the call of duty. Beyond the Q&A session and lunch, he spent 2 hours taking pictures with each individual. He seemed to truly enjoy and care about the MBA visit,” said MBA student Robert Boese.
When asked how the trip related to her coursework, MBA student Kim Patterson said, “We went to the mountaintop and spoke to the Oracle. In his questions and answer session he covered international finance, global investment, the current economic down-turn, business skills required to manage a fortune 500 company, life-work balance, the decisions important to a career in business, investment strategies....and I'm sure I've missed some things.”
With all the stories, the lessons learned, the candid business advice and life lessons mixed in to one day, all the students agreed that it was a once in a lifetime experience.
MBA student Abhishek Kumar Jain, who rode to lunch in Buffett’s car and sat next to him during lunch, enthused, “Mr. Buffett told us that currently a lunch with him runs for $2.1 million. My MBA is already worth $2.1 million!”
Words of Wisdom Buffet shared with the MBA Students
“Don't be influenced by the emotions of the market or those around you when making and managing an investment.” –Kim Patterson
“The most important investment decision of your lifetime is the person you choose to marry.” –Robert Boese
“A person who succeeds in the job is not the one who loves money but who is passionate in what he/she is doing.” –Yeojeong Suh
“Communication, both oral and written, is absolutely essential in the world of business. There is no sense in having great ideas if you can’t get them across to people.” –Rita Kerge
“A man’s worth should never be measured by the amount of money he/she has.” –Abhishek Kumar Jain | 
