"BUFFETT U." Tonight: a Master Class by the Master of Investing

WELCOME TO OUR ROAD TRIP.  Tonight on Fox Business at 7pm ET and 10pm ET, plunk yourself down in front of a television set and be part of something never before shown on t.v.: a Master Class taught by the world's most successful investor.

Here's how it came down for me and the FOX Business crew:

 Thursday Nov. 20

6am Heading to Newark Liberty airport. The only flights to Omaha entail small, Continental Express jets. We've got a big crew trying to shoe-horn camera gear and equipment onto the plane. Thank the lord my Senior Producer Bruce Perlmutter shows up with an Au Bon Pain bagel. We split it.

Noon Central Time We're in Omaha! We blast past the Omaha Steaks desk in the airport and rush outside. It's freezing but we move quickly because we already have a crew in downtown Omaha waiting to shoot the wraps (the show open, close, and some tosses to commercial breaks).

12:30pm We catch up with the other half of our crew who arrived a day earlier.  Sherry, our Omaha makeup artist, shows up right as we do. We squish into our rented SUV and she does my makeup. Hey, whatever works!  Forget the hair... the wind is whipping all over the place. You'll see in the open of the show how my hair is getting caught in the lipgloss!

12:45pm Roll tape. We have to do several takes because we're on a little river bank with the Omaha skyline behind me and my heels keep sinking into the grass. We all grit our teeth against the cold. Wish Warren Buffett could see everything we're doing here.

I can't believe how excited I am about this. It's been SIX MONTHS in the making. Back in May when I was covering Buffett's Berkshire Hathaway annual shareholder meeting in Omaha for FOX Business, an FOB (Friend of Buffett) named Harvey Eisen watched as we all fluttered around Mr. Buffett, fighting close to a hundred members of the international media to get a shot. Harvey quietly pulled me aside later at dinner. "You DO know what he does every year for FREE, don't you???"

He proceeded to tell me how the richest man on the planet clears his calender eight days a year to host dozens of business schools from around the world. He gives them his WHOLE DAY. Teaches the kids, then takes them to lunch, let's them pick his brain. ALL DAY. What other CEO does that?

Only 48 business schools a year from around the world are selected for this honor, and from there only 27 students from each school get to participate. Talk about competition.I started looking into it. Turns out, the selection process for the individual students is done internally by each of the colleges- some do it by lottery, others seniority, some grades. So by the time these kids travel to Omaha (most the night before) they're pumped.

I decided to make the pitch to Warren Buffett that Fox Business would do a special on this most unusual and generous practice of his. He had never, in the 12 years he's been hosting students, allowed cameras in to capture the class.

I wrote up the proposal. After a month or two of mulling the idea, he said the golden word: YES.

That's what brought us to November 20th.

So our crews began catching up with these kids on that Thursday night- We had THREE separate crews fanning out across Omaha.. we caught some schools arriving by air, some by bus, some by car... Many had traveled hours and hours but "tired" was just not in their vocabulary. We went to the hotel where Wake Forest students were gathering… and of course headed right to the bar. They were there with school spirit in tow. All of them were chattering about what would they ask Mr Buffett. They were crafting some great questions.

Then it was onto a steak restaurant where we caught up with Rotman-- the business school at University of Toronto. They came in from Canada just hours earlier—same agenda—what would they ask? Who would be the designated ‘questioners?’ Then back on the road for us to catch up with University of Michigan's business school students. They were at a different hotel- and they were in the lobby bar. As we were talking to those who were there- another two vans of the students were arriving. The ride was long, but they were totally jazzed. They sang their Michigan fight song for our cameras.

Friday, Nov.  21

7am Bright and early- we catch up with my alma mater Berkeley at their hotel. They were preparing to head over to Buffett-owned Nebraska Furniture Mart for a private tour. The Furniture Mart is one of the many businesses under his Berkshire umbrella, and it's a business Warren calls one of his best acquisitions ever. (by the way, he bought it without ever looking at the books or the balance sheet.. a handshake and a gut feeling were all he says he needed.) The kids couldn’t have been more excited about the day. And when we hauled down to the Furniture Mart to observe the tour, there was Notre Dame...they'd just arrived along with Buffett's alma mater, University of Nebraska--and they even brought along their Husker’s Mascot. No time to waste—the big event was within an hour at Berkshire Hathaway Headquarters so from there we caught up with all the students— you'll see how they were all dressed like CEO’s of the future. We all took our seats to watch an extraordinary Q and A session that lasted for more than 2 hours. Wait til you see what they asked, and the kind of advice he gave them.

Noon Not done yet- -the students headed to lunch with their new Professor for a Day- and continued to barrage him with more questions.. and after the ritual of Buffett’s favorite root beer floats, our crews captured a photo session like I’ve never seen… It's Buffett's tradition: each and every student gets one photo with him to take home- but here's the catch: each kid can pose ANY WAY they choose with him... and he's game for it! I have to say the one that sticks out in my mind the most? The three gals who did a Charlie's Angels pose with him… we called 'em "Warren’s Angels." You'll see. *I* even posed with him, doing what he called "The Anna Nicole Smith" pose: grabbing his wallet.

By now it was close to 4pm- many of the students headed back home and to the reality of college. The fact is, this once-in-a-lifetime experience with Warren Buffett is one day that will create the memory of a lifetime... and perhaps teach them more than they could ever learn in a classroom.

Still others decided to stay in Omaha for just one more hour—electing to take the tour of another Omaha-based, Buffett-owned business: Borsheims Jewelry store, the largest free-standing jewelry store in the nation, second only to Tiffany's on Fifth Avenue in NYC.

By the end of the day-- we saw it all.. nervousness, excitement, exhaustion, elation, and an outlook on these kids' futures that no tuition in the world could buy.

And guess what? You too, get to sit in on this unique class given by arguably the greatest investor and businessman of our time. Welcome to Buffett U.

--Remember: 7pm ET and 10pm ET TONIGHT!!!!

Liz