Buffett celebrates 50th year at Berkshire, faces tough questions

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Berkshire Hathaway CEO Warren Buffett plays ukulele in a video prior to the Berkshire annual meeting in Omaha, Nebraska May 2, 2015. REUTERS/Rick Wilking
Berkshire Hathaway CEO Warren Buffett plays ukulele in a video prior to the Berkshire annual meeting in Omaha, Nebraska May 2, 2015.  REUTERS/Rick Wilking
Berkshire Hathaway CEO Warren Buffett plays ukulele in a video prior to the Berkshire annual meeting in Omaha, Nebraska May 2, 2015. REUTERS/Rick Wilking

BY LUCIANA LOPEZ

Berkshire Hathaway Inc shareholders on Saturday celebrated Warren Buffett’s 50th anniversary running the conglomerate, as the billionaire expressed optimism the company would thrive over the long haul, even after he is gone.

Buffett and his second-in-command, Charlie Munger, fielded five hours of questions from shareholders, analysts and journalists at Berkshire’s annual meeting, including some that criticized the business practices of firms that Berkshire owns or works with, such as Brazil’s 3G Capital.

The meeting had a more festive air this year, with one of the more than 40,000 people who attended shouting out “Warren and Charlie, we love you” at the start of the main event of what Buffett calls “Woodstock for Capitalists.”

“It’s not Disneyland, it’s Warrenland,” said David Rolfe, chief investment officer of Wedgewood Partners Inc.

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