Guy Spier and Mohnish Pabrai pay $650,100 for Lunch with Buffet

by Ground Report    July 01, 2008

Guy Spier and Mohnish Pabrai lived the dream of every investor and entrepreneur as they dined with billionaire Warren Buffett last week. Spier and Pabrai won the opportunity to share a lunch with Buffet on an Ebay auction they purchased at $650,100. The money will go to the Glide Foundation that helps the poor and homeless.

Guy Spier is the CEO of Aquamarine Capital Investments and Mohnish Pabrai is an investor from India. The two dined with Buffett and their families at the Smith & Wollensky steakhouse in Manhattan last week and had the chance to learn from Buffett's more than 50 years of investing experience.

If you think that $650,100 is too high a price to pay for this opportunity, Guy Spier and Mohnish Pabrai cordially disagree. They have good reason to disagree as Guy Spier writes in a recent Time article. "Well, two days after our meal, the auction closed on eBay for next year's lunch with Buffett. The winner, a Chinese money manager named Zhao Danyang, bid $2.1 million. So, that proves it: our $650,100 lunch was a total bargain."

source: http://www.time.com/time/business/article/0,8599,1819293,00.html

This work is licensed under a Creative Commons Attribution 3.0 License.

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