Business Commons^™

This article documents a trip that was made by students from the University of Akron’s College of Business to visit Warren Buffett, chairman and CEO of Berkshire Hathaway and the second richest man in the world at his Global Headquarters in Omaha, Nebraska. Every year, Buffett invites a select number of schools to Omaha to visit with him and tour a few of his companies. This article discusses the strategy that the University of Akron used to get invited to visit Buffett, the activities throughout the day with Buffett, and the lessons learned from the “Oracle of Omaha”. The trip …

This paper examines the stock market reaction to 167 FDA announcements of new drug approvals during the period 1980 - 1999. Using an event study methodology, the study finds that there are significant positive abnormal returns on the day of the announcement of new drug approvals. However, there is no evidence of significant positive returns prior to the announcement. Accordingly, the paper concludes that any buying pressure arising from insiders anticipating the approval announcement does not affect the value of the stock. Significant returns do not occur until after the announcement, which is consistent with the behavior of an efficient …