Stern Undergraduates Join Warren Buffett on FOX

Fox Business news report featuring NYU Stern Students
NYU Stern Undergraduate College students recently appeared with Warren Buffett on a live FOX Business television segment.

Warren Buffett, chairman and CEO of Berkshire Hathaway Inc., has made headlines recently for abstaining from voting on Coca-Coca’s equity compensation plan for its executives. At a 9 percent stake, Berkshire Hathaway is the largest shareholder of Coke.

During Buffett’s exclusive interview with FOX Business Network anchor, Liz Claman, on Monday, NYU Stern Undergraduate College Honors Program students and student leaders were able to watch and participate from Tisch Hall via satellite.

Kevin Baker (BS ’14) asked Buffett a question about his decision to abstain and Buffett’s thoughts on activist investors.

“You have already said in the past that the value of such investors depends on the company and the situation,” said Baker, who will graduate in May with concentrations in Economics and Finance. “Considering your decision in abstaining from the Coke vote, my question for you is, under what circumstances would you decide to take an active role, and why?”

Buffett, who said that Baker’s question was a good one, said that in abstaining, he was expressing his opinion of Coke’s plan.

“We are not looking to change people,” said Buffett, in response to Baker. “We may be in a situation with [Coke] where they might have a little bit of a different opinion, and we might be able to influence them. But we want to join with people we like and trust. We will not come in a contentious way, it’s just not consistent with Berkshire principles.”

The hour-long interview, which also featured Microsoft co-founder Bill Gates and Berkshire Vice Chairman Charlie Munger, was held in Omaha Neb. at Berkshire’s headquarters in Kiewit Plaza. Stern was one of three business schools represented during the hour-long segment; students from the University of Chicago’s Booth School and the University of Maryland’s Robert H. Smith School of Business also joined the program via satellite.

Baker and his colleagues from the Undergraduate College appear at the 15:13 mark of the segment, which is available on the Fox Business website.

Learn more about NYU Stern Undergraduate College students joining Warren Buffet on Fox Business.