Warren Buffett Trip Omaha, Nebraska January 2018 Letter from Smart Woman Securities National Meeting with Warren Buffett on January 12th was an honor and a privilege that SWS members will treasure for a lifetime! During the 2 ½ hour Q&A session, we intently listened to Mr. Buffett as he educated us on business, provided advice on rela- tionships and shared meaningful and humorous insights on life and success. He is often referred to as the “Sage of Omaha”, a title earned for being the world’s greatest investor. The definition of a sage is someone characterized by wisdom, prudence and good judgement and Mr. Buffett truly embodies each of these qualities. But the depth of his tremendousness goes far beyond his financial acumen. And because of his generosity with his time, we were able to see and hear for ourselves just how wonderful a person he is. His brilliance, humility, kindness and optimism were evident and inspiring. Our rigorous preparation requirements included readings from The Intelligent Investor, The Making of an American Capital- ist, watching video interviews, dissecting the Annual Shareholder newsletter, and participating in weekly discussion groups. By thoroughly researching companies and studying biographies of the executives that we were meeting, it allowed the students to take full advantage of the opportunity of asking thoughtful questions beyond what anyone could easily access on the internet. All agreed that the preparation allowed them to derive the maximum benefit from the trip. That afternoon was followed by an exclusive dinner at Mr. Buffett’s favorite steakhouse, Gorat’s with our members and SWS Co- founders, Tracy Britt Cool and Teresa Hsiao. They freely shared thoughts and answered questions ranging from their career paths, women in the corporate world, and career advice. We are grateful for their vision, guidance and leadership which created Smart Woman Securities. They have impacted thousands of young women by creating the structure for educating them on finance and investments through educational seminars, mentoring initiatives and meetings with great investors.We proudly continue this mission. Additionally, we visited with businesses in the public, private and non-profit sectors including The Gallup Organization, Hardy’s Coffee, the Joslyn Art Museum and three Berkshire Hathaway owned companies including Nebraska Furniture Mart, Borsheims and Oriental Trading Company where we engaged in panel discussions, speaker presentations, and facility tours. The Business Executives Dinner was a great opportunity for students to engage with accomplished professionals in Omaha. We would like to thank all of our guests for sharing their knowledge and advice with our group as their interaction is something that our members always enjoy. Throughout the trip, members representing 15 chapters were getting to know each other, discussing their school experiences, sharing best practices and discussing how to implement ideas to take their chapters to higher levels. Please read on to learn more details from our participants about events from this year’s trip. Again, we would like to extend our sincerest gratitude to Mr. Buffett for making this trip a reality. It is a tremendous honor to con- tinue to be invited back. It is so inspiring to see that Warren Buffett’s prosperity goes far beyond finances. He possesses abundant wealth with richness of life. As he continues to tap dance to his office, we will continue to applaud him as it is so well deserved. With gratitude, Darla Jade Executive Director, Smart Woman Securities THURSDAY, JANUARY 11, 2018 2 Gallup, Inc. Christine Zhang, Harvard University Our first company visit on the Buffett Trip was to Gallup, a During the executive women’s panel, executive director privately owned company that offers research and data analytics Melissa Moreno discussed the benefits of Gallup existing as to help companies operate at peak efficiency. At Gallup, our first a private company including not having to worry about mak- speaker Sara Vander Helm discussed our results from the Clif- ing the numbers each quarter and focusing on the best long- ton StrengthsFinder test, a personality test that identified our top term decisions instead of short-term public perception. Jane five strengths. My top strength was Learner while other girls had Miller, the COO of Gallup, discussed how Gallup was the first Achiever, Competition, Empathy, Input and more. No two girls company to ask, “do you have a best friend at work?” They dis- had the same set of five but our strengths helped lead us to com- covered that employees with a best friend at work are more mon goals and values, just through different pathways. Accord- likely engaged and enthusiastic because they have a con- ing to Sara, companies with employees who follow their strengths stant support system. Lastly, Ms. Miller concluded the panel exhibit a “7.8% increase in productivity and 8.9% increase in by sharing her close partnership with CFO Jim Krieger and profitability”. Out of the 34 possible strengths in the Strengths- how the two form a strong partnership by complementing Finder test, Achiever is the most common and Discipline is least. each other’s strengths. This was a nice recap of the lessons The latter half of the Gallup visit consisted to two panels: the we took away: to cultivate our strengths and find partners. first comprised of researchers and the second of executives at Gal- lup. At the research panel, we learned that women like choices as workplace analytics manager Annamarie Mann reports that“77% of women with children consider working part-time or leaving the workplace.” We also discussed the evolving workplace culture as employees want coaches instead of bosses. According to Ms. Mann,“Millennials are empowered, not entitled” and more confi- dent in voicing their thoughts. Ellyn Bass, a research analyst, was working from home as her child’s daycare was cancelled due to the snowstorm. This demonstrated Gallup’s commitment to work- life balance and the flexibility to accommodate working mothers. Jackie Crowley, Gettysburg College At the start of our visit with Gallup, we ing this panel, we talked to six women that generation, do not wait for things to focused on ourselves, through thinking worked at Gallup: Kristin Berry, Anna- change, and delay the American Dream. introspectively about the strengths of marie Mann, Jane Miller, Melissa Moreno, Ultimately at our Gallup visit, we learned our personalities and talent, through Stephanie Plowman, and Ellyn Bass. They a great amount about ourselves and taking the Clifton Strengths Assess- discussed a great company culture at Gal- the other members of the trip, heard ment. Through this assessment, we lup, such as a low turnover rate, how their from a panel of inspirational women learned our five greatest talents: talent jobs give them mission and purpose, and about the company culture at Gallup, can be defined as a naturally recurring that they feel valued for the work that they and learned about Gallup research pattern of thought that can be produc- are providing. Women are the technol- that will greatly affect our generation tively applied. During the Gallup Clif- ogy leaders at Gallup. Melissa Moreno, the of women as we enter the workforce. tonsStrengths Discovery, Sara Vander Executive Director of Infrastructure and Helm helped us develop a mindset in Cybersecurity, runs a team of all men, in which we removed the negative con- a department that is quickly gaining more notations with talent. In academics and importance: a trend that will most likely other ventures, it is frequently taught continue in the future. She discussed that to work on weaknesses, rather than to one of the biggest challenges of being a fully develop our strengths. The Gal- woman business leader is that she is in- lup Strength presentation taught us vited to business events that are domi- that differences are advantages, and nated by male pastimes, such as golfing. the differences of others are also ad- During this panel, we also discussed vantages to us as finding business some of the recent reports published partners with different strengths will by Gallup, such as the Millennial Re- improve collaborative productivity. port. Empirical evidence from this study After the CliftonStrengths Discovery, shows that Millennials have different there was a panel called “Bringing Re- expectations of the workplace: they search to Life and Life to Research”. Dur- crave development as an empowered THURSDAY, JANUARY 11, 2018 3 First National Bank Lorem Basile, Fordham University Walking into the First National Bank Headquarters all of us what makes the bank so unique. First National Bank is known were very excited. We eagerly jumped on the elevator and for its philanthropy and throughout our discussion it was suddenly were on the fortieth floor in the executive board- very clear that the bank has helped several causes in Omaha. room withan incredible view of the city. A few minutes lat- er, the CEO Clark D. Lauritzen walked in and welcomed us warmly. He first wanted to hear about Smart Woman Secu- rities as an organization, and also learn about each of the girls: where they studied and interned. He immediately con- nected with one of our members who studies at Harvard and Before giving all the girls a tour of the office, Mr. Laurtizen shared his advice for all of us as we prepare to transition to the real world. First he said, “You have to raise your hand.” In school if you work hard and do a good job you will get worked at Goldman Sachs, as that was what he did as well. a good grade, but at work you need to have an informed After everyone introduced themselves he gave a brief his- opinion and share it in order to make yourself valuable.