UTK Buffett Symposium

October 10, 2003

During the UT FMA's February 2002 meeting in Omaha, the group presented Warren Buffett with the signed autobiography of Knoxville businessman Jim Clayton.  The gift would later spark communication between Mr. Buffett and Mr. Clayton, ending with Berkshire Hathaway buying Clayton Homes for $1.7 billion dollars.  In appreciation for the student involvement in the deal, Mr. Buffett gracefully agreed to come to The University of Tennessee to participate in a two-hour student symposium.  Students were able to ask him questions on any topic, and the event was taped to air on PBS stations.

However, Mr. Buffett had an even bigger surprise in store for the group of UT students.  He brought with him 40 Class-B shares of Berkshire Hathaway stock, valued at over $2500 each, to give to each student as a gesture of his appreciation.  Accompanying the stocks were honorary PhD's in investment banking from the "University of Berkshire Hathaway."  Also, the FMA's faculty advisor Dr. Al Auxier was given a share of Class-A stock worth over $70,000.  The meeting was certainly a memorable event for all the students involved.  The FMA would like to thank Mr. Buffett for his incredible generosity.