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Would you pay a million for a Buffet lunch?

July 10, 2009

Well someone did. Paid USD$1.68 million to have lunch with Warren Buffet to be precise.

“Salida CEO Courtenay Wolfe she’s looking forward to talking to the 78-year-old Buffett about his experience and his perspective on the world.

“We’re excited to talk to him about broader themes that are affecting the global markets,” Wolfe said.”

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Haha, the news tickles me. What is it with people? Why pay for something you can get for free on Bloomberg channel or CNBC? They do Buffet ocasionally don’t they?

Okay, granted that most of the proceeds will go to a charity organization. Plus they might get a hundred bucks taken out for the steak.

But do they really believe Buffet will lean over and whisper, “Pssst… don’t tell anyone I said this but you should buy so-and-so bonds at such-at-such a price. You won’t regret it.”

Or that someone will put them on their preferred partner list just because they paid for lunch?

Here’s what I think they’ll get. Free press coverage. Lunch with an investment guru who himself lost a bundle in the crash. Anyway, lunch is now reported on all major news networks and whether it’s worth $1.7 million in a depressed market, you tell me.

The charity bit? I dunno. They could have easily written a check for half that amount and with a little PR spin, still get the attention I suspect.

But thinking that dining with a financial wizard will make a difference to business brings me back to the time when people thought you’ll be a superstar by having a drink with Ozzy Osborne. And the kid who thinks he’s Superman just because he’s wearing Superman underwear. Haha, sorry to break it to you folks but the world just doesn’t work that way.

But you’ll get your 15 minutes of fame and a photo op. Restaurants do that you know, a picture with Queen Elizabeth here, an article with Tom Cruise there. I’d be curious to know what the bidder’s shareholders have got to say about spending that much money on a trinket.

Well… its their money and they can do whatever they want with it. Now on to the real deal. Does anyone wanna pay $$ to have lunch with me? I promise I’ll be a lot cheaper, and I’ll probably be more fun than Buffet too, lol. 😀

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2 Comments leave one →
  1. July 10, 2009 8:26 am

    Buffet is not known to give tips or even suggestions to anyone. He’s a good teacher though. But if someone wants to know about it, just watch CNBC or read books on him. The 1mill, for me, is just a waste of money to get the PR or the 1 day/week fame. That’s about it.

    And fame can have its pros n cons 😉 It’ll bring you up, or throw you down. Remember MJ, and Susan Boyle?

    If I really have so much money, I would rather buy gadgets. hahaha. Just kidding. Just build a non-profit org to help those in needs. I think 1 mill is enough for a small one.

    The lunch deal was auctioned and I suppose the highest bidder won. The word “auction” gave me a clue as to what was really going on there.

    If you’ve been to an American auction, you’ll understand how the bidding process (which is more like a circus side show) can arouse people into doing something they don’t normally do, like paying more for something they would normally pay for. Clever auctioneers switch the focus of the auction from the bid item to a very public race of egos between bidders. Ego as in “I can afford it but you can’t,” amplified many times because its done in front of dozens of people. None of the high-reputation bidders want to be seen as a loser so they chase the price up. I know lots of folk who, after getting the winning bid, go home regretting they ever went to the auction. Meanwhile the auctioneer who gets a fat commission laughs all the way to the bank.

  2. July 11, 2009 11:20 am

    I can already imagine how is it like to be in that auction…..and how happy is that auctioneer. LOL.

    Yup. The auctioneers in America are making a killing auctioning homes during this financial crisis.

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