Warren Buffett. Photo Getty
  • At Berkshire Hathaway's annual shareholder meeting, a young shareholder asked Warren Buffett about his favourite investment outside of the conglomerate.
  • Buffett said his favourite investment was land owned by a duck-hunting club that later turned into an oil field.
  • For more stories go to Business Insider South Africa

A young shareholder, brought to Berkshire Hathaway's annual meeting by her father, asked Warren Buffett what his favourite investment was outside of the conglomerate.

Buffett named his investment in Atled Corp., a duck-hunting club of 100 members that agreed to purchase land in Louisiana, as his most "fun" investment.

"Atled had 98 shares and I bought one," said Buffet who noted that the company's name was Delta spelled backwards.

Buffett said that while some members were out hunting, one of them fired a few shots into the ground and oil sprouted out. The newly found black gold sent shares up from $100 (R1,432) to $29,200 (R418,255) apiece. Atled ultimately sold out to an oil company.

"If they kept it that stock might've been worth $2 or $3 million a share," Buffett said.

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