Lawrence A Cunningham is a professor at George Washington University and founder of the Quality Shareholders Group. He owns shares of Berkshire Hathaway and is a shareholder and director of Constellation Software

There may be no such thing as a free lunch, but $1.5m? That’s the average paid to dine with Warren Buffett in his annual auction to raise money for charity. Bidding for this year’s lunch, which the 91-year-old Buffett says will be his last, exceeded $3m at the time of writing.