The Berkshire Hathaway Theme Park

Acting more like kids at Disneyland than holders of $109,000 per share stock, investors began lining up at 11 p.m. last night. Yes, 11 p.m. By 6:30 this morning, thousands had converged around the Qwest Center in Omaha--in the morning rain and thunder, no less. When the doors finally opened, these people didn't just run, they stampeded for a good seat. (Security attendants futilely implored them to "WALK!" to no avail.) By 8 a.m., nearly all of the 18,000 seats were filled, and the overflow seating areas were also nicely attended.

But the real Berkshire Hathaway Disneyland experience happens in the exhibit hall, where the firm's investment spring to life-size, from the shoe store from H.H. Brown, the Dairy Queen store, and the many RVs. It's like Mall of America meets an investor conference.

Lines formed for postage stamps featuring Warren Buffett and Charlie Munger. More free ice cream was handed out. Geico was offering rate quotes, as well as pictures with a Gecko.

Warren hit the floor early to mingle with shareholders and then ducked backstage to hang out with Jimmy Buffett before the movie began...