The ultimate guide to attending Warren Buffett’s annual shareholder meeting, from a guy who’s gone every year since age 6

Investor Thomas Kamei attended his first Berkshire Hathaway shareholder’s meeting two decades ago — at age 6.

Every year since, no matter the date, no matter the scheduling hassle — even the year Berkshire fell on the same day as senior prom in high school — he’s found a way to return to Omaha.

This weekend will mark his 20th consecutive meeting, proof that “Coachella for capitalists” still holds a powerful lure.

Up to 45,000 people are expected to attend the shareholders gathering in Omaha Saturday, lining up with the masses to soak up the wisdom of Warren Buffett and revel in the folksy charm (newspaper-throwing contests; Dilly Bars from Berkshire-owned Dairy Queen).

But, this year, there’s a twist. For the first time, the meeting will be streamed live to the public. Which raises a very obvious question: Why not just watch it at home on the couch? It would be cheaper, and way, way more comfortable.

I posed that question to 26-year-old Kamei this week, but then quickly realized I had it wrong. Attending this celebration of all things Buffett is an experience. Kamei has become a master of it, serving as a guide of sorts to both newbies (he brings a half-dozen new friends with him every year) and repeat visitors.

I'm among the first timers that he'll be shepherding. So I called him up and asked him to share his Buffettpalooza secrets.

But, first, some history.

His annual tradition began in 1996 when his mother, well-known San Francisco-based analyst Nancy Kamei, brought him along. She wanted to introduce her son to some investing role models. So who better than Buffett and his longtime partner, Charlie Munger, two men who made themselves into billionaires through decades of shrewd investments?

Kamei doesn’t recall a lot from that first meeting, but remembers that it was much smaller — about 5,000 people attended — than the gathering today. (The size of the crowd began to significantly increase, as the Wall Street Journal points out, after Berkshire introduced a cheaper class of stock.) Kamei kept tagging along.

In 2000, ahead of the dot-com bust, he stood in front of the crowd and asked Buffett and Munger if the rise of the Internet would affect Berkshire’s holdings in old-line companies like The Washington Post and Wells Fargo. He was 10. Buffett said he did not know; Kamei appreciated the candor, and the New York Times mentioned him in its coverage that year.

It wasn’t until a few years later, around 15, that he stood up to again pose a question from the audience, asking Buffett and Munger for guidance. For someone hoping to get into investing, the teenager wondered, could they give some advice?

Buffett took the practical approach, advising that he just get started. “All these mistakes you make now will be the cheapest mistakes you can make,” he quipped. Munger recommended developing an expertise in technology — an industry Munger said could best be tackled by a budding digital native.

Kamei, who now works as a tech investor at Morgan Stanley in New York, says the answer he received at the meeting “kind of changed the way I’ve structured my life,” helping him think about which internships to pursue and how to narrow his focus in finance.

Now, he thinks of the event as his yearly “mental cleanse,” reminding him of the importance of a long-term perspective and the values of a buy-and-hold approach.

So, with his years of practice, what’s the best way to maximize the 36 hours in Omaha? Advice and highlights from our conversation:

Camping out. To score a prime seat on the floor of the arena, it’s best to get in line well before sunrise. This year, Kamei will be there as early as 2 a.m. with about 30 friends and members of the value-investing club from his alma mater, the University of Southern California. Doors to the arena don’t open until 7. Snagging a good seat is important, particularly if you hope to ask Buffett and Munger a question from the audience. (A third of the questions come from journalists, a third from Wall Street analysts, a third from the audience.) The earlier you line up, the better the seat. 

Know your fund managers. “In a very Buffett-esque way, it’s very democratic. If you’re worth a billion dollars and you flew in on a G-5, it doesn’t mean you get a front seat. You have to wait in line like everyone else,” Kamei says. But that means the person sitting next to you in line, clutching coffee, could be a famous, wealthy, high-profile investor or fund manager. Approach them; most will talk. “If you know what these really famous investors look like, they’re kind of just lumbering around and willing to chat with you.”

Watch for CEOs. Another piece of advice: Don’t ignore the booths in the exposition area. The companies Berkshire Hathaway owns or invests in set up shop, and in most cases, they’re staffed by top executives, not hourly workers. Last year, Kamei talked with IBM CEO Ginni Rometty for a few minutes near her company’s exhibit; IBM is one of Berkshire’s largest holdings.

Remember: Buffett swag makes great gifts. Berkshire is overflowing with bobble heads, “Berky” boxers and and every piece of Buffett-shaped swag a retailer can dream up. Don’t mock; buy, Kamei says. “They do make great gifts,” he says. “I definitely know at least one leveraged finance desk [where] everyone got decked out in BRK Vineyard Vines’ ties." Berkshire’s jeweler, Borsheims, also offers discounts all weekend. You can find deals, but know your prices. “I would say there used to be more inefficiencies, where really high-margin items were more discounted.”

The reading list. “I don’t have a required reading list,” Kamei says, but he does recommend his friends and others tagging along with him brush up on some Berkshire literature. His picks: Roger Lowenstein’s “The Making of an American Capitalist,” which he says “does the best job of outlining who Warren Buffett is”; "Poor Charlie’s Almanack," a collection of Munger's speeches; or in lieu of that, at least his 1995 Harvard speech on the “psychology of human misjudgment.”

Finally, there’s Buffett’s annual letter, a must-read for investors around the world. I wondered what Kamei had to say about this year’s missive, but when we talked, he hadn’t read it yet.

That was no oversight. Every year, he holds off on opening it until he’s onboard the flight to Omaha.

“I save it for dessert.”