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A Personal Guide by Vitaliy Katsenelson

The Intellectual Investor’s Guide to Omaha

Personal recommendations from more than fifteen years of attending the Berkshire Hathaway annual meeting in Omaha, Nebraska.

Downtown Omaha street at dusk with warm lights during Berkshire weekend

The Pilgrimage

More Than a Meeting

Every year, thousands of us make the pilgrimage to Omaha for what has been called the Woodstock for Capitalists. At first glance, it looks like we come for the six-hour Q&A with Warren Buffett. And we do – or at least, we used to. Now that it’s streamed online, most people can watch it from the comfort of their own couch instead of an uncomfortable plastic chair.

After attending this gathering for more than fifteen years, let me tell you a secret: this trip is not really about Buffett, sorry, Warren. It’s about the ecosystem the Berkshire Hathaway shareholder meeting has created – the events, the dinners, the learning that happens along the way. For me it is one big reunion with friends scattered across different states and countries – people I get to see just once a year.

The real value is the people.

This event is what you make of it. Over the years, we turned it into a series of Jeffersonian dinners. The concept is simple: one table, one conversation. No side discussions, no phones, no agenda – just curiosity. The rules come from Thomas Jefferson, who believed the best ideas emerge when everyone at the table is part of the same conversation rather than splintering off into their own side conversations. Ten people sit down – often a mix of friends and strangers – and a few hours later, everyone leaves having learned something they didn’t expect to, and the strangers are no longer strangers.

If you are heading to Omaha in May 2026, here is my intentionally inefficient guide to doing it right.

Sunday, May 3 · Free Event

The Intellectual Investor Breakfast

Breakfast, Q&A, then a meet and greet with book signings by authors outside. An informal, curious gathering at the Marriott Downtown.

RSVP for Sunday Breakfast

8:45 AM – 12:00 PM · Marriott Downtown, 222 N 10th St

Getting There

Getting There and Staying Put

The Airport Hack

Downtown hotels during Berkshire weekend carry price tags that will make your eyes water. If you want to sidestep that, consider staying near Eppley Airfield (OMA). The airport hotels are significantly cheaper and only ten minutes from downtown by car. The money you save might even buy you a couple of shares of BRK.B. Not investment advice. Just an observation.

Uber and Pickup

I used to rent a car during my early visits. Then Uber arrived, and I never looked back. You don’t need a car in Omaha. Uber is cheap, accessible, and gets you everywhere you need to go – and I say that not just because we own Uber stock. That said, when you land at Eppley, be prepared for a small adventure. The Uber pickup area requires a short walk through the parking garage. Give yourself five extra minutes so you’re not sprinting through it with luggage. Once you arrive in the Old Market district, everything becomes wonderfully walkable.

The Hilton Lobby

Even if you aren’t staying there, spend an hour in the Hilton Omaha lobby. You’ll see fund managers, students, billionaires, and retirees – people who have held Berkshire stock longer than some hedge funds have been alive. Omaha is like that. You never quite know who you’ll bump into. Years ago, my son struck up a conversation with a stranger who turned out to be the creator of Breaking Bad. Ten years ago, I ran into Kathy Ireland – I suspect most readers under thirty have no idea who she is, and that’s fine.

First-Timers

If this is your first time coming to Omaha, I recommend you make it a long weekend. I usually arrive on Thursday and leave on Sunday. There is a lot to do in Omaha beyond what I’ve mentioned in this guide. For a more comprehensive guide to the city, the logistics, and everything else Berkshire weekend has to offer, read this: BRK Central.

Hilton Omaha hotel lobby with comfortable seating

Saturday, May 2

The Main Event

This year is different. Warren Buffett will not be on stage – he’ll be seated among the board of directors, and Greg Abel will be presiding over the meeting. The format is also shorter than in previous years.

Saturday, May 2, 2026 – CHI Health Center, Omaha

Doors & Exhibits Open: 7:00 AM CT

Q&A Session Begins: 8:00 AM CT

Q&A Break: 10:30 – 11:00 AM CT

Q&A Resumes: 11:00 AM CT

Q&A Ends: 1:00 PM CT

I’ll be honest with you: I used to sit through the entire main event, from start to finish, not missing a minute. These days, I give it ten to thirty minutes, then I wander. And I don’t feel guilty about it.

Because here’s the thing – the exhibition hall is where you actually understand Berkshire Hathaway. Not as a stock ticker, but as a living, breathing collection of real businesses. You walk from GEICO to Fruit of the Loom to Brooks to a company that makes bricks, and somewhere along the way it clicks. This is what Buffett built. It’s one of the most unusual and illuminating corporate showcases you’ll ever walk through, and most people rush past it to get a seat for the Q&A.

Wander the hall. Talk to the people at the booths. I have a small personal tradition – every year I buy a new pair of running shoes at the Brooks booth. They sponsor the Berkshire weekend Invest in Yourself 5K, and their shoes have become my unofficial Omaha uniform. For the last five years, Brooks are the only sneakers I wear throughout the year.

I have zero regrets about missing a big part of the meeting, because I know exactly what’s waiting for me on the other side – the comfort of my own couch, the full replay on YouTube, or the transcript to read on the plane ride home.

The People

The People: Friends and Community

Guy Spier’s VALUExBRK

My friend Guy Spier hosts VALUExBRK during Berkshire weekend. Guy, who is one of the kindest people I know, has a rare talent for bringing thoughtful, generous people into the same room. His event feels less like a conference and more like a gathering of people who genuinely enjoy learning from each other. If you get the chance to attend, take it.

The Creighton University Value Investing Panel – Friday, May 1, 3:00–4:45 PM

Vitaliy Speaking

Another highlight of the weekend. The questions are good, the people are interesting, and you’ll leave with a few things to think about. I’ve been on this panel on and off for fifteen years. I’ll be there again this year.

Vitaliy’s Fireside Chat with Adam Anderson, CEO of Innovex – Saturday, 5–7 PM

Saturday 5 – 7 PM
Hilton Omaha, 1001 Cass St

This year I’m adding something new to my Omaha routine. I’ll be interviewing Adam Anderson, the CEO of Innovex, in a live conversation about business, capital allocation, and what it’s like to run a company in the real world rather than in a spreadsheet.

One of the things I love about Berkshire weekend is that it reminds us businesses are run by human beings. Numbers matter, of course. But behind every income statement is a group of people making decisions under uncertainty. Adam is one of those people. We’ll talk about Innovex, leadership, mistakes, incentives, and how CEOs think about the long game when Wall Street often prefers the short one.

If you’re in Omaha, I’d love for you to join us. Register here.

The Intellectual Investor Breakfast, Q&A & Book Signing

Vitaliy Hosting

Sunday, May 3 · 8:45 AM – 12:00 PM

Marriott Downtown, 222 N 10th St

Free · RSVP required

Breakfast at 8:45, Q&A from 9:30 to 11:00, followed by a meet and greet and book signings by authors outside until noon. An informal, curious gathering. Bring your questions and your appetite.

The Intellectual Investor Book Signing

I invited my friends and fellow authors to bring their books and sign copies for attendees of the Q&A breakfast. You’ll have a rare opportunity to have a conversation with these brilliant people, buy a copy, and have it signed.

Sign Up for Sunday Breakfast

You’ll receive a confirmation email with event details and logistics closer to the date.

Berkshire Weekend 2026

Join Me This Year

Two events I’m part of during the weekend. I’d love to see you at any of them.

Vitaliy Speaking

Creighton University Value Investing Panel

Friday, May 1 · 3:00 – 4:45 PM

Creighton University, Omaha

Thoughtful investors and students in the same room. The conversations tend to be refreshingly substantive.

Live Conversation

Vitaliy’s Fireside Chat with Adam Anderson, CEO of Innovex

Saturday, May 2 · 5:00 – 7:00 PM

Hilton Omaha, 1001 Cass St

Business, capital allocation, and what it’s actually like to run a company in the real world rather than in a spreadsheet.

Register Now

Where to Eat & Explore

Dining, Treats & Finds

Omaha Prime steakhouse in the Old Market

Omaha Prime

Steakhouse

A classic Omaha steakhouse in the Old Market. During Berkshire weekend, the room fills up with investors. It’s loud. It’s crowded. The steaks are excellent.

Sullivan's Steakhouse steak dinner

Sullivan’s Steakhouse

Steakhouse

My reliable standby. If Omaha Prime feels a little too energetic, Sullivan’s offers a slightly calmer atmosphere. Call ahead and ask for a corner table.

Blue Sushi Sake Grill platter in Omaha

Blue Sushi Sake Grill

Sushi

At some point during Berkshire weekend, you will want something that isn’t a steak. When that moment arrives, go here. I know – fish in flyover country. Love this place.

Gather restaurant courtyard in Omaha Old Market

Gather in Omaha

New American

Gather is set in a charming Old Market alley filled with greenery. Good for sitting outside if the weather cooperates, and worth visiting even if you don’t eat there.

The Old Mattress Factory bar in Omaha

The Old Mattress Factory

Bar & Grill

Known locally as The Matt. Right next to the Hilton. During Berkshire weekend it turns into a sea of name badges and lanyards, but it’s still a solid fallback.

Gorat's steakhouse grilled steak, Warren Buffett's longtime favorite

Gorat’s

Steakhouse

Famous for one reason: Warren Buffett eats there. It’s fun to go for the history. But in my humble opinion, the experience is more nostalgic than culinary. Go once. Enjoy the moment. Then explore the rest of Omaha’s restaurants.

Old Market Candy Shop

Sweets

At the risk of being banned from the BRK meeting: I am not a big fan of See’s Candy. I love this place. I load up on orange peel chocolates every year.

The Dilly Bar Rule

Tradition

Inside CHI Health Center, keep an eye out for the Dairy Queen booth. If they’re selling Dilly Bars, buy one. Bring cash – they don’t take credit cards. $1 each.

Amazing Imaginarium

Shopping

One of the coolest toy stores I’ve ever seen. Eclectic, creative, and full of things that remind you curiosity doesn’t disappear when you grow up. If you have kids, bring them. If you don’t, go anyway.

Family

Bringing Your Kids

I’ve been bringing my son Jonah to Omaha on and off for almost a decade. The first time, he was fourteen. He couldn’t sit through the annual meeting – he was preoccupied with anything and everything but Buffett’s wisdom. The highlight of the trip for him was a selfie with Bill Gates. Fair enough.

After that trip, he didn’t ask to come back – for eight years. Then, seemingly out of nowhere, he wanted to return. He came back, sat through almost the entire meeting, and has been coming ever since. For the last three years, both of my older kids – Jonah and my daughter Hannah – have accompanied me.

The year Hannah first came, she was eighteen. She arrived a little skeptical and left announcing to my wife that she was going back next year. My wife was surprised. “Jonah is into finance,” she said. “You’re not. Why?” Hannah’s answer: “I got to meet so many interesting people and had so many terrific conversations. None of them were about finance. I learned so much.”

That’s exactly right. This is what Buffett and Munger built – an ecosystem that rewards curiosity, not credentials. You don’t have to be a CFA to feel at home here. You just have to be genuinely interested in ideas, in people, in learning. Omaha is one of the few places I know where a twenty-two-year-old and a seventy-year-old can sit at the same dinner table and leave having both learned something.

If you have kids who are old enough to hold a conversation, bring them. They may not care about Berkshire Hathaway. They probably won’t remember what Buffett said. But they will remember the people they met, the conversations that surprised them, and the feeling that the world is much larger and more interesting than their daily routine suggests. That’s worth the trip.

The best advice I can give you about Omaha is this:

Talk to strangers.

Everyone there is curious. Everyone wants to meet interesting people. Whether you're standing in line for ice cream, waiting for a Dilly Bar, or sitting at a Jeffersonian dinner, start a conversation. You never know where it might lead. I made a close friend on my very first visit – we met at the Dairy Queen booth, of all places.

And what to wear?

Nobody cares. Jeans, sneakers, t-shirts. Be comfortable.

I've been going to Omaha for more than fifteen years, and somehow the trip keeps getting better.

See you there.

Vitaliy Katsenelson, author of The Intellectual Investor Guide to Omaha

About the Author

Vitaliy Katsenelson

Vitaliy Katsenelson is the CEO and CIO of IMA, a value investment firm in Denver, and the author of Soul in the Game, The Little Book of Sideways Markets, and Active Value Investing. Forbes called him “the new Benjamin Graham.” He’s been making the pilgrimage to Omaha for over fifteen years, and what started as a solo trip has turned into a tradition of hosting Jeffersonian dinners, fireside chats, and the Intellectual Investor Breakfast. His weekly newsletter at investor.fm reaches more than 100,000 readers. He lives in Denver with his wife and three kids.

Read more about Vitaliy

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