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Rating:Fido to Get Exclusive Face Time with Buffett Not Rated 1.0 Email Routing List Email & Route  Print Print
Friday, March 23, 2012

Fido to Get Exclusive Face Time with Buffett

by: Armie Margaret Lee

The folks at Fidelity Investments will have their own version of Buffett Day tomorrow after asking more than their share of questions at last year's Berkshire Hathaway annual meeting, Fortune reports.

Back in December, Warren Buffett lamented to the Wall Street Journal that Fidelity had figured out how to game the Q&A system and that he was planning his countermove.

Now, Fortune's Carol Loomis reports:
Not delighted about any kind of subterfuge, but recognizing that the Fidelity approach was a brand of compliment, Buffett decided on a soft response. He asked his financial assistant, Tracy Britt, who used to work at Fidelity herself, to tell the company that if its people were that interested in asking questions, they could have their own version of Buffett Day. Buffett put no limit on the number of people who could come. "As many as they like," he told Britt.
Fidelity is sending more than 100 people to Omaha tomorrow, including Chris Bartel, senior vice president of equity research and CIOs Joseph Desantis and Bob Litterst.

The Fido contingent can ask the Oracle of Omaha anything they like except for one topic: Berkshire Hathaway. "He didn't want the Q-and-A to turn into an analysts' meeting centered on Berkshire (of which Fidelity owns lots)," reports Loomis. 

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