★ Berkshire Hathaway Annual Shareholders Meeting

01Why it matters

It is the only gathering on this calendar where access is bought with a single share rather than a fee, an invitation or a title, and where the corridor conversation is between individual owners rather than institutions. It has also functioned for decades as a public seminar in capital allocation.

02The week around it

Omaha, a city of roughly 500,000, turns itself over to the weekend. Downtown hotels sell out months ahead, the exhibit hall becomes a temporary department store of Berkshire subsidiaries, and Nebraska Furniture Mart and Borsheims run extended discount periods either side.

03When to arrive

Arrive Thursday evening or Friday morning.

04Where to stay

Downtown Omaha, walkable to the arena, is the obvious base and the first to sell out; the Old Market district immediately south puts you among the restaurants. Midtown around Blackstone is quieter, the Dodge Street hotels are the usual fallback, and Council Bluffs across the river absorbs the overflow.

05Access and hospitality

Attendance requires a meeting credential, and a credential requires ownership of Berkshire stock. Credentials are mailed in advance; anyone holding through a broker can collect at Will Call on proof of ownership and photo identification. The credential admits its holder to every shareholder event of the weekend.

06Where the social activity happens

The exhibit hall on Friday afternoon is the most sociable part of the weekend and the easiest place to fall into conversation.

07Getting there

08Practicalities

09History

Berkshire's annual meetings were once small enough for a company cafeteria in Omaha.

10Who is there

Individual shareholders and their families, many returning annually; investment club and value-investing groups; fund managers and analysts; students on university finance trips; subsidiary employees; and a large accredited press contingent.