‘Communal Feel’ at Buffett Shareholders Meeting

by Karen Schwarz – Chabad.org

Once a year, Warren Buffett—known as the “Oracle of Omaha” for his investment choices and business acumen—holds an enormous event for company shareholders in his Nebraska hometown. It draws men and women from all over the world, though this year, there was an added nuance for Jewish participants as they maneuvered to get to the middle of the United States.

When Arnold Basserabie was deciding whether to fly in from Johannesburg to Nebraska for the 2016 Berkshire Hathaway Annual Shareholders Meeting on April 30, there were a number of things to consider. Passover was one of them.

Dubbed the “Woodstock for capitalists,” the event held by Buffett, the 85-year-old chairman and CEO of Berkshire Hathaway—an American multinational conglomerate holding company headquartered in Omaha—draws tens of thousands of attendees.

The conference, now in its 51st year, fell during the eight-day holiday for the first time that anyone can remember. Basserabie, like many other Jewish attendees, wanted to know what might be available duringShabbat, which was also the last day of Passover.

So the South African resident contacted Rabbi Mendel and Shani Katzman, who runChabad-Lubavitch of Nebraska.

“We want visitors to associate strong Jewish feelings with their time here,” says the rabbi, “and for this experience to boost their Judaism as they discover its relevance in the midst of modernity and finance. We endeavor to enlighten guests with intrinsically valuable discussions that offer warmth and meaning, as well as a connection to the Divine amidst the tizzy of business and investing.”

Basserabie decided to attend, and in addition to shareholder events, took part in services and meals with Chabad on Thursday night, Friday morning, Friday night and Saturday morning. Visiting and local yeshivah students helped make the time uplifting and enjoyable, he says.

Chabad welcomed more than 100 people over four days, according to Rochi Katzman, coordinator for the weekend’s events for Chabad, hosting many of them in a bar that was transformed into a shul/Chabad Center near the investor event.

The Chabad House has been holding such a program alongside the conference for years, usually beginning on Friday night; this year, they started a day beforehand because of Passover. To that end, they put in place “a makeshift Chabad House downtown to make kosher food and services available to the hundreds of Jewish visitors,” she says.

Saturday-morning services began early to accommodate those heading out to the meeting, and that night after the conclusion of Shabbat, an end-of-Passover Moshiach’s seudah—a special festive banquet focused on redemption—was held.

Yeshivah students flew in from Morristown, N.J., and from Baltimore, joining the Katzmans’ sons Yossi and Zelig in Omaha to lead prayers and be available to chat with guests over the long weekend. Rabbi Katzman also made it a point to thank Rabbi Moshe Kotlarsky, vice chairman of Merkos L’Inyonei Chinuch—the educational arm of the Chabad-Lubavitch movement—for logistical assistance, as he has done in years past.

“They were very helpful,” Basserabie says of his Chabad hosts, “and went out of their way to meet my requirements regarding both food and services. They also ensured that the facilities would be within reasonable walking distance of my hotel and the conference center.”

There was good food, good conversation and the opportunity to break bread with other attendees. He especially enjoyed the lively discussion on Friday night, and developing relationships with Jews from around the world. “Chabad of Omaha really excelled in making our weekend meaningful, enjoyable and stimulating,” he says.

As for the conference itself, Basserabie says he was impressed by Buffett’s eagerness to listen to and answer questions comprehensively; his detailed knowledge of the underlying businesses in the group at large; Buffett’s relationship with his partner, Charlie Munger, 92, vice chairman of Berkshire Hathaway; and how they strived to keep things simple in their business deliberations.

He also got a chance to dip into Chabad wisdom. While waiting for services to begin, he picked up a book on the Lubavitcher Rebbe—Rabbi Menachem M. Schneerson, of righteous memory—and was impressed with “his approach to life, his caring for people and his approach to solving problems before him.”

‘Something in Common’

David Cicurel came in from London to attend the investor conference for the first time. While in Omaha, he took part in services and meals with Chabad, and was joined by his son and son-in-law. He says he valued the chance to be part of the pop-up community, noting the “great ruach [‘spirit’] and enthusiasm, as well as the inspiring conversation during the meals.”

He came away from the conference steeped in the wit and intelligence of Buffett and Munger, and their knowledge of facts and figures relating to their business and to the U.S. economy, he says. As for the Jewish-oriented events, “Chabad never disappoints!”

“We came with 38,000 people to listen to two brilliant guys who are great money-makers and want to leave nothing to their children, and ended up spending more time with 10 people trying to pass on our inheritances to our children,” he adds.

Attendee Gary Yarus of Miami Beach, Fla., has been attending the conference for the past few decades. He was first invited to Shabbat dinner a handful of years ago when he ran into Rabbi Katzman and a mitzvah mobile in a parking lot during his stay in Omaha.

He traded in the provisions that he brought with him for a warm and friendly Shabbat table that welcomed like-minded conference-goers from all over the world. “I thought it was really wonderful that they reached out,” he says. “I met people I’d never meet, and we all have something in common. It’s just nice to see that there’s a chevra [group], and you feel at home.”

Yarus, who arrived on Thursday—the first day of Chabad activities this year—notes that he encourages other Jewish conference participants he meets to attend the Katzman-run events: “You learn the ways of the business world while talking Torah. You can talk with these bochurim [rabbinical students]—it’s amazing.”

The Chabad element also gives the conference weekend a communal feel. “It’s almost like a family connection. I see friends, people I only see there,” he says. “Buffett gives us a business-perspective check, and because of Chabad, I feel like I don’t have to compromise my Shabbat traditions.”