Berkshire Hathaway's (BRK.A, BRK.B) annual shareholder meeting brings a mix of Warren Buffett's folksy -- and sometimes lewd -- investment advice, as well as a plethora of Berkshire-branded swag.
However, for those who are not able to make the pilgrimage to Omaha this weekend, does the meeting have any implications for investors' portfolios?
Real Money looked at the performance of the S&P 500 in the days following the annual meeting over the last 10 years and noticed a few interesting trends.
On the Monday following the meeting, the S&P closed up seven out for the last 10 years. To be sure, the Monday rallies are modest: the average over the seven years is 0.5% with 2009 being a standout year, with the market up 3% that day. However, by the Fridays after the meeting, the S&P had closed down seven times out of 10. There may be a Buffett bump, but don't expect it to last long.
Of the seven times the S&P closed up, it ended in negative territory four times by the end of the week -- in 2007, 2010, 2012 and 2014.
On two of the three occasions when the S&P held on to its rally throughout the week -- in 2009 and 2013 -- the market rally appeared to be a continuation of a rally the week before. The 2009 rally, of course, was particularly stunning, as the market was rebounding from the depths of the Great Recession.
On the three occasions when the S&P closed down Monday -- 2006, 2008 and 2011 -- it stayed down for the rest of the week and was a continuation of a broader selloff.
For a long-term investor, these gyrations may not mean much, but for a trader, it could be an interesting trend to notice.