Berkshire Hathaway shareholders brave rain, crowds for annual meeting

This year, Yahoo Finance live-streamed Berkshire Hathaway's (BRK-A, BRK-B) annual shareholder meeting for the first time, allowing famed investors Warren Buffett and Charlie Munger to appear in the living rooms and on the mobile devices of people all around the world.

But that didn't stop thousands of shareholders from lining up outside Omaha's CenturyLink Center as early as four o'clock in the morning to snag a good seat in the arena where Buffett and Munger would answer questions. With no assigned seating and some 40,000 shareholders in town for the meeting, you can understand why.

Yahoo Finance spoke with early-morning Buffett fans from all around the world, including China, Australia, and Sweden. Many of the shareholders said they had been loyally attending the meeting for over a decade. They said they embraced the "carnival atmosphere" and the ability to meet new friends, but most importantly, the chance to learn from Buffett and Munger about investing and life in general. Their enthusiasm continued throughout the entire meeting, with the arena frequently erupting in laughter and applause.

Those watching the live stream missed the rain but were able to listen to Buffett's and Munger's words of wisdom. In his annual shareholder letter earlier this year, Buffett explained why they decided to live stream the event. “Charlie and I have finally decided to enter the 21st century,” wrote Buffet.

He also referenced his age. "Charlie is 92, and I am 85. If we were partners with you in a small business and were charged with running the place, you would want to look in occasionally to make sure we hadn’t drifted off into la-la land. Shareholders, in contrast, should not need to come to Omaha to monitor how we look and sound. (In making your evaluation, be kind: Allow for the fact that we didn’t look that impressive when we were at our best.)"

Click here to view a full replay of the 2016 Berkshire Hathaway annual shareholder meeting, which Yahoo Finance live-streamed exclusively. At this page you can also find our extensive coverage of the event.