Berkshire meeting updates: Buffett proposes Abel become CEO, talks trade policy, market volatility

Berkshire Hathaway Chairman and CEO Warren Buffett is presided over the company's annual meeting. Track all of the day's news and analysis here.

To watch the meeting in the Mandarin translation, .

's annual meeting ended Saturday with big news: Warren Buffett said he planned to ask the board to make Greg Abel the company's CEO by year-end.

Abel, Berkshire's vice chairman of non-insurance operations, was at Buffett's side on stage when Buffett broke the news, and didn't know these remarks were coming, according to "The Oracle of Omaha."

The 94-year-old has had a six-decade run at the company, and its annual meetings draw thousands of shareholders from around the world to Omaha each year. The gathering, known as "Woodstock for Capitalists," is a chance for Buffett to share his views on the markets, investing and life, in general.

This year, Buffett was asked about global trade policy and the tariffs that President Donald Trump has proposed as well as the market's recent volatility.

"Trade should not be a weapon," Buffett said. Read a full account of the day's events below.

Here are some of the highlights:

• Formal board decision on moving Abel to CEO will come 'in a few months,' Buffett said
• Abel calls maintaining Berkshire's reputation an 'absolutely critical' value
• U.S. budget deficit is 'unsustainable,' Buffett says
• 'Work at something you enjoy,' Buffett says
• Apple CEO Tim Cook has 'made Berkshire a lot more money' than I have, Buffett says

Rep. Hill on Abel CEO request announcement: 'What a happy day!'

Arkansas Rep. French Hill expressed glee following Buffett's announcement about having Greg Abel become the new CEO, which came at the end of Saturday's shareholder meeting.

"[Buffett] always loved tap dancing to work. Well, now he's tap dancing out of work. What a day, what a happy day!" he told C온라인카지노사이트'S Becky Quick and Michael Santoli. "The board, and Greg and Warren have done a magnificent job over the last decade preparing shareholders for today."

The Republican, who said he has been coming to the Berkshire meetings since the early 1990s, also expressed that the Oracle of Omaha has been "a hero of mine since I was in college."

"When I got out of government in 1993 and went back to the private sector in investment management, it was Warren Buffett who was my role model – a man I've never personally met, but I've admired all these years," Hill added.

— Sean Conlon

Berkshire board member on Greg Abel: He's ready

Ron Olson, a Berkshire board member, expressed optimism around Greg Abel taking over as CEO.

"Greg is ready. I have no doubt about that. We've known if for a long time," said Olson, who is stepping down from his role because he's no longer eligible, to C온라인카지노사이트'S Becky Quick and Michael Santoli after the meeting.

He also lauded Buffett and his accomplishments. Buffett has "lived a life full of surprises. Very few of his decisions have been anything but sensational. I am very anxious to see Warren become the Charlie Munger for Greg Abel."

— Fred Imbert

Buffett jokes that enthusiasm on Abel announcement can be 'interpreted two ways'

Even as he signals the end of an era, Buffett's humor remains intact.

Buffett announced he will ask Berkshire's board to make Abel CEO of the conglomerate , leading to a standing ovation from the crowd and Abel. Soon after, Buffett joked: "The enthusiasm shown by that response can be interpreted two ways."

— Fred Imbert

Formal board decision on moving Abel to CEO will come 'in a few months,' Buffett said

The decision to approve Abel moving into the Berkshire CEO post will take place over the next two board meetings, Buffett said.

Buffett will make the recommendation to the Berkshire board of directors at Sunday's meeting. Other than his two children, the other board members — including Abel — had not been informed of this decision before Saturday's meeting, Buffett said.

From there, the board can ask questions about how the transition process will go before making a formal decision.

"At the meeting following that, which will come in a few months, we'll take action on whatever the view is of the 11 directors," he said. "I think they'll be unanimously in favor of it. And that would mean that at year end Greg would be the chief executive officer of Berkshire. I would still hang around and conceivably be useful in a few cases, but the final word would be what Greg said in operations, in capital deployment, whatever it might be."

— Jesse Pound

Buffett closes meeting by declaring he has ‘zero’ intention of selling a single Berkshire share

Buffett closed the meeting by declaring he had no intention of parting with any of shares in the company.

"I have no intention, zero, of selling one share of Berkshire Hathaway. It will get given away gradually," he said, to resounding applause and cheers.

Buffett continued: "I would add this: The decision to keep every share is an economic decision, because I think the prospects of Berkshire will be better under Greg's management than mine."

He said that this was also a decision that would help indicate his confidence in Abel's leadership.

"But I will come in, and there may come a time when we get a chance to invest a lot of money. When that time comes, I think it may be helpful with the board — the fact that they know I've got all my money in the company, and I think it's smart, and I've seen what Greg has done," Buffett concluded.

— Lisa Kailai Han

Buffett to ask board to make Greg Abel CEO of Berkshire Hathaway at year-end

After getting a warning that five minutes remained in Berkshire's annual meeting, Buffett dropped some big news: He said he would ask the board on Sunday to at the end of the year.

The 94-year-old Buffett had discussed succession planning at many prior Berkshire meetings but the announcement signaled the end of an era was arriving.

His comments were met with a long standing ovation.

—Christina Cheddar Berk

U.S. budget deficit is 'unsustainable,' Buffett says

When asked about cost-cutting and so-called Department of Government Efficiency, Buffett said that controlling the government budget deficit is a problem that is "never fully solved."

"We are operating at a fiscal deficit now that is unsustainable over a very long period of time. We don't know whether that means two years or 20 years, because there's never been a country like the United States, but this is something that can't go on forever," Buffett said.

While Buffett did not discuss DOGE specifically, he did say it would be a difficult but important job to cut the budget deficit.

"It's a job I don't want, but it's a job I think should be done, and Congress does not seem to be doing it," Buffett said.

— Jesse Pound

Buffett calls U.S. the shining example of capitalism, comparing the system to a cathedral attached to a casino

Buffett called the U.S. a shining example of capitalism, making the analogy of a cathedral attached to a casino.

"Capitalism in the United States has succeeded like nothing you've ever seen. It's a combination of this magnificent cathedral, which has produced an economy like nothing the world's ever seen, and then it's got this massive casino attached," he said. "In the cathedrals, they basically are designing things that will be producing goods and services for 300-and-some million people like it's never been done before in history."

Although the temptation to focus all of one's time and energy at this metaphorical casino is quite high, Buffett cautioned that keeping the balance was of utmost importance.

"At the casino, everybody's having a good time and there's lots of money changing hands and everything, but you've got to make sure the cathedral gets fed, too," he said. "It's very important that the United States in the next 100 years makes sure that the cathedral is not overtaken by the casino."

Buffett continued: "It's an interesting system we developed, but it's worked. It dispenses rewards in what seems like a terribly capricious manner."

— Lisa Kailai Han

Abel, Buffett discuss risk of wildfires to Berkshire

Abel, who serves as the chair of Berkshire Hathaway Energy, said that wildfire risk is "not going away" in the United States.

Berkshire's approach to managing those risks include maintenance of the infrastructure and powering down when bad weather or a spreading fire approaches, Abel said.

"We have clearly recognized as a team that we have to de-energize those assets," Abel said.

He also said that Berkshire can't serve as an "insurer of last resort" in wildfire disasters.

Berkshire's portfolio includes insurance and utility holdings. That means wildfire damage can cause losses for the insurance business and, if a fire happens in a region where Berkshire's utility operates, create legal liability concerns.

Buffett seemed to express concern about the future of the utility business.

"Every part of the country is going to need electricity and there are going to be places where privately held electric utilities would be foolish to operate. ... How that will be resolved in our democracy, we will find out," Buffett said about the liability concerns.

"We are not in the business of trying to solve unsolvable problems," he added.

The company's reflected a $1.1 billion loss related to Southern California wildfires.

— Jesse Pound

60th anniversary books sold out, Buffett says

Berkshire's special book celebrating six decades under Buffett has sold out, the CEO announced.

Buffett said during the second half of his question-and-answer session that he received a note saying all copies of the 60th anniversary book have been purchased. It's the at Bookworm, the on-site bookstore.

Buffett said at the start of Saturday's gathering that about 4,400 copies sold the day prior. Berkshire printed around 8,000 in total, 3,000 more than originally planned.

Berkshire is auctioning off some signed copies for charity.

— Alex Harring

Buffett reassures shareholders Berkshire won’t do ‘stupid’ things with their money

Buffett reassured his shareholders that Berkshire wouldn't put their money to use for things that the company thought was "stupid."

If they did, the shareholders "ought to get rid of us," he added.

"It's easier to do stupid things with other people's money than it is with your own money. That's one of the problems government has generally. We don't want to bring it to private enterprise," Buffett quipped.

— Lisa Kailai Han

Abel calls maintaining Berkshire’s reputation an ‘absolutely critical’ value as he takes the helm going forward

When asked about his views on capital allocation, particularly into new businesses, Abel said that Berkshire had a strong set of values to follow, including maintaining its current reputation.

"We have values that we as a management team — as defined by Warren and Charlie and everybody associated with the business — they had great values that really set Berkshire up well for the future," he responded. "There are a couple that are absolutely critical."

The first of these, said Abel, was keeping up the legacy that has already been established.

"One, we'll maintain the reputation of Berkshire and that of our company, and I view that in investing or how we operate things across each of our businesses. That will always be a priority, and something that we'll ensure is in the forefront of our minds," he said.

Other important values he would stick by include keeping Berkshire's balance sheet strong. Abel said that the company's current "significant set of cash" was an "enormous" and "strategic asset" that he could deploy in the future, one that allows Berkshire to not depend on any banks or other entities for its success.

Properly understanding and managing risk is also important, he said, alongside owning a "great set of operating companies that do produce significant cash flows."

"It's really the investment philosophy and how Warren and the team have allocated capital for the past 60 years," he added. "Really, it will not change. And it's the approach we'll take as we go forward."

— Lisa Kailai Han

Buffett cites 1% buyback tax for repurchase slowdown

Buffett said Berkshire halted its buyback program this year partly because of the 1% excise tax on stock repurchases, which was introduced as part of the Inflation Reduction Act. 

"It does make it slightly less attractive than it was before," he said, referring to the 1% tax.

Berkshire shares also have significantly outperformed the S&P 500, rising nearly 19% this year. Class A shares climbed 1.8% Friday to a new all-time high of $809,350.

— Yun Li

Buffett explains why he likes to look at balance sheets before investing in a company

Buffett explained why he thinks that the balance sheet is a good starting point when deciding whether to invest in a company.

"I spend more time looking at balance sheets than I do income statements. And Wall Street really doesn't pay much attention to balance sheets, but I like to look at the balance sheets over an eight- or 10-year period before I even look at the income account because there's certain things that are harder to hide or play games with on the balance sheet," Buffett said.

"Neither one gives you the total answer," he added.

— Jesse Pound

Buffett returns to the stage at the CHI Health Center in Omaha

Buffett returns to the stage after a brief lunch break, and quickly begins the afternoon question-and-answer session.

Before tackling the first question, he made a quick movie recommendation: "Becoming Katherine Graham." The documentary about the Washington Post publisher quotes Buffett in its trailer.

—Christina Cheddar Berk

Berkshire packs arena despite travel concerns for some shareholders

Despite unique travel challenges for foreign shareholders this year, it was a full house at CHI Health Center in Omaha on Saturday morning as Buffett spoke.

Multiple international investors told C온라인카지노사이트 they were this year given concerns about traveling to the U.S. in the current political climate. These decisions come after President Donald Trump's plan for contentious tariffs has quickly raised fears of a global trade war.

Buffett said during Saturday's gathering that Berkshire's shareholder event held a day prior saw record high attendance of nearly 20,000.

— Alex Harring

Berkshire meeting breaks for lunch

The Berkshire Hathaway annual shareholder meeting has taken a break for lunch.

Buffett is expected to return to the stage for another round of shareholder questions at about 12 p.m. ET.

—Christina Cheddar Berk

Buffett says recent volatility is normal for stock investing

"What has happened in the last 30, 45 days … is really nothing," , noting Berkshire Hathaway's stock was cut in half three times during his 60 years running the company.

Given that, he said the U.S. stock market's recent action should not be considered a "huge" move.

"This has not been a dramatic bear market or anything of the sort," Buffett said.

The S&P 500 nearly closed in a 20% bear market at its low in April before President Donald Trump paused his most punitive tariffs on countries, causing a rebound that's brought the benchmark back more than halfway. At last check the S&P 500 was down about 8% from its record high.

—Alex Harring, John Melloy

'A happy person lives longer,' Buffett says

When giving advice to a young investor, Buffett said that finding a way to be fulfilled and happy helps people have long lives.

"I think a happy person lives longer than somebody that's doing some things they don't really admire much in life," Buffett said.

— Jesse Pound

Jain admits that private equity competition has made it tougher for Berkshire to invest in insurance business

Jain said that Berkshire Hathaway had not been immune to disruptions from direct competition in the form of private equity firms in recent years.

"There's no question the private equity firms have come into the space, and we are no longer competitive in this space. We used to do a fair amount in this space, but in the last three, four years, I don't think we've done a single deal," he said.

That being said, Jain added that the private equity strategy of using higher leverage and more aggressive investment strategies works while the "economy is doing great and credit spreads are low."

"However, there is always the danger that at some point the regulators might get cranky and say, 'You're taking too much risk on behalf of your policyholders,' and that could end in tears," Jain added. "We do not like the risk-reward that these situations offer, and therefore we put up the white flag and said we can't compete in this segment right now."

Buffett added that Berkshire was unique from its competitors because he takes a more personal stake in his investments.

"They probably have a somewhat different fiduciary feeling about what they're doing, and sometimes it works and sometimes it doesn't work and if it doesn't work, they go on to other things," Buffett said. "If what we do here at Berkshire doesn't work, I spend the end of my life regretting what I've created so it's just a whole different personal equation. There's no property casualty company that can basically replicate Berkshire."

— Lisa Kailai Han

'Fiscal policy is what scares me,' Buffett says

When asked about currency considerations and potential hedges for Berkshire, Buffett said he was concerned about the tendency of governments to make decisions that lead to weaker currencies.

"Fiscal policy is what scares me in the United States, because it's made the way it is and all the motivations are to doing a lot of things that can cause trouble with money. But that's not limited to the United States, it's all over the world," Buffett said.

"The value of currency is a scary thing, and we don't have any great system for beating that," he added.

The comments echoed what the annual report said on the topic.

"Paper money can see its value evaporate if fiscal folly prevails. In some countries, this reckless practice has become habitual, and, in our country's short history, the U.S. has come close to the edge. Fixed-coupon bonds provide no protection against runaway currency," Buffett wrote in that report.

— Jesse Pound

Jain says Geico has cut workforce by more than half

Jain, Berkshire's chairman of insurance operations, lauded Geico CEO Todd Combs' efforts to improve the insurance giant's operations — which include steep job cuts.

Jain said that Combs has cut Geico's workforce to about 20,000 from around 50,000 when he took over. He also credited Combs with Geico's incorporation of telematics, which for years was an area Geico lagged in.

In the past five or six years, "we have made rapid strides, and telematics, which used to be a source of competitive disadvantage to us, is no longer so," said Jain. "I would argue that, at Geico, our telematics are as good as anyone else's today. That's been one huge catch-up."

Jain added that the labor force reductions amount to roughly $2 billion a year in saved costs.

— Fred Imbert

Buffett shares advice on careers

Buffett offered some of his wisdom for life beyond the investing world that he's become known for over the decades.

When answering a question about the plan for successor Greg Abel, Buffett gave advice about choosing a job and launching a career.

"You really want to work at something you enjoy," Buffett said during Saturday's gathering.

Buffett cautioned that employees can take on the habits of their colleagues, so it's important to be discerning about where one works. He recommended that while people should be "careful" about who they are employed by, it's less important to fret about factors like starting salaries.

"If you find people who are wonderful to work with, that's the place to go," he said.

— Alex Harring

Buffett standing firm on U.S. despite recessionary fears

Buffett is still all in on the U.S. despite growing concern among investors about the direction of the country's economy and its standing on the world stage.

"I mentioned that we started out as an agricultural society. We started out as a society with high promises, and we didn't deliver on them very well," he said. "We're always in the process of change. We'll always find all kinds of things to criticize in the country, but the luckiest day in my life is the day I was born [because] I was born in the United States."

"We've gone through great recessions, we've gone through world wars, we've gone through the development of an atomic bomb that we never dreamt of at the time I was born, so I would not get discouraged about the fact that it doesn't look like we've solved every problem that's come along," he continued. "If I were being born today, I would just keep negotiating in the womb until they said you can be in the United States."

"We're all pretty lucky," he stressed. This is despite his criticisms of the current trade policy earlier in the session.

— Sean Conlon

Buffett reveals Berkshire almost spent $10 billion recently

Buffett revealed that Berkshire almost put $10 billion at work recently, but ultimately didn't pull the trigger.

"We came pretty close to spending $10 billion, not that long ago, for example, but we'd spend $100 billion," he said. "I mean, those decisions are not tough to make when something is offered that makes sense to us and that we understand and offers good value."

However, Buffett noted that the one problem with the investment business is that things don't come along in an orderly fashion.

— Yun Li

Berkshire insurance leader Ajit Jain says he remains in a ‘state of readiness’ to ‘jump in promptly’ to any AI opportunities

When asked about artificial intelligence's ability to transform the insurance industry, Ajit Jain admitted that the technology could be a "real game changer" in the way the business currently assesses, prices, and sells risk; and how it currently pays claims.

But Jain said that Berkshire is taking a more hesitant approach when it comes to any lofty new technological claims.

"I certainly also feel that people end up spending enormous amounts of money trying to chase the next new fashionable thing," he said. "We are not very good in terms of being the fastest or the first mover. Our approach is more to wait and see until the opportunity crystallizes, and we have a better point of view in terms of risk of failure, upside, downside."

However, Jain added that Berkshire wouldn't hesitate to invest once the right opportunity does arise.

"Right now, the individual insurance operations do dabble in AI and try and figure out what is the best way to exploit it, but we have not yet made a conscious big-time effort in terms of pouring a lot of money into this opportunity," he added. "My guess is we will be in a state of readiness and should that opportunity pop up, we'll be in a state where we'll jump in promptly.

— Lisa Kailai Han

Buffett jokes about Berkshire's cash pile and Greg Abel

When discussing Berkshire's cash pile, Buffett joked about the theory that he is planning to hold on to that until the leadership transition occurs, which would let his successor Greg Abel make a big move.

"I wouldn't do anything nearly so noble as to withhold investing myself just so that Greg could look good later on," Buffett quipped, drawing laughs from Abel and others in attendance.

— Jesse Pound

Buffett says opportunity to deploy cash will likely come within next 5 years

Buffett said Berkshire will find places to put its record levels of cash to work, likely within the next half decade.

"It's very unlikely to happen tomorrow," Buffett said in response to a question about the reasoning for Berkshire's cash hoard. "It's not unlikely to happen in five years."

Buffett also said that "the one problem with the investment business is that things don't come along in an orderly fashion."

The Oracle of Omaha added that "probabilities" of finding a good buy "get higher as you go along" and that it's "kind of like death." He then cracked a lighthearted joke about longtime business partner and friend Charlie Munger, who in 2023 at the age of 99.

— Alex Harring

Buffett says he 'won't be giving a thought to selling' Japan stocks if BOJ were to raise rates

In response to a question about whether Buffett will stop investing in Japan stocks if the Bank of Japan were to raise interest rates in the future, the Oracle of Omaha said he won't be selling shares.

"In the next 50 years ... we won't give a thought to selling those," Buffett said, adding that Japan's record has been "extraordinary" and pointing out that Apple, and , for example, have been doing well in the country.

He also said he's been treated "extremely well" by the five Japanese companies he has invested in – namely, Mitsui, Mitsubishi, Sumitomo, Itochu and Marubeni – and said that building a relationship with the companies is "super long term."

"They have different customs. They have different approaches to business – that's true around the world – and we don't have any intention in any way of trying to change what they do because they do it very successfully," Buffett said.

"We will not be selling any stock. That will not happen in decades, if then," he continued. "The Japan investment has just been right up our alley."

— Sean Conlon

Buffett criticizes tariffs, says 'trade should not be a weapon'

Buffett criticized the idea of tariffs and trade protectionism, saying that "."

"In the United States, we should be looking to trade with the rest of the world. We should do what we do best, and they should do what they do best," Buffett said.

President Donald Trump was not directly referenced during this discussion.

— Jesse Pound

Buffett jokes that Apple CEO Tim Cook has ‘made Berkshire a lot more money’ than he has

Buffett initially took a lighthearted tone as he thanked CEO Tim Cook.

He said that following Apple's latest earnings release, he tuned into Cook's call on Thursday afternoon, the "only investment quarterly call" that he listened to.

"I'm somewhat embarrassed to say that Tim Cook has made Berkshire a lot more money than I've ever made Berkshire Hathaway," Buffett joked. "Credit should be given to him."

The investor then took on a more serious tone as he noted that Apple co-founder Steve Jobs "really made the right decision" when picking out Cook as his successor.

"I knew Steve Jobs briefly," Buffett said. "Steve died young, as you know, and nobody but Steve could have created Apple, but nobody but Tim could have developed it like it has. So on behalf of all of Berkshire, thank you."

— Lisa Kailai Han

Berkshire sells more than 4,000 anniversary books

Berkshire sold thousands of its during Friday's shopping event, according to Buffett.

Buffett said around 4,400 copies of the book focused on the 60th anniversary of Berkshire under his leadership were snapped up by shoppers during the day. The company printed around 8,000, about 3,000 more than initially planned.

It's the for sale at Bookworm, the on-location book store, this year.

— Alex Harring

Record high of nearly 20,000 people attended Friday's Berkshire event, Buffett says

Buffett shared some statistics from Friday's Berkshire convention.

• 19,700 people in attendance, a new record.
• $317,000 in sales for See's Candies
• $310,000 in sales for Brooks
• $250,000 in sales for Jazwares

— Jesse Pound

Buffett opens meeting to applause

Audience members cheered as Buffett began speaking. He said the meeting, which is his 60th, should be his biggest and best yet.

"In every aspect, we set records," Buffett said of this year's event, citing sales from holding companies at the bonanza and runners signed up for Sunday's 5-K.

— Alex Harring

Berkshire net sold stocks for 10 quarters in a row

Berkshire Hathaway has sold more stock than it's bought for 10 straight quarters, according to its earnings report released Saturday morning.

The conglomerate dumped more than $134 billion worth of stock in 2024, mainly due to reductions in Berkshire's two largest equity holdings —  and  As a result of the selling spree, Berkshire's enormous pile of cash grew to yet another record, at $347 billion.

— Yun Li

What this investor says he's most excited to hear from Buffett

Investor David Samra said that tariffs are the "topic of the moment" ahead of the start of Berkshire Hathaway's annual shareholder meeting.

"I think that it will be interesting to hear, of course, Warren's thoughts around tariffs — that is the topic of the moment," Samra, a portfolio manager at Artisan Partners, told C온라인카지노사이트's Becky Quick and Mike Santoli.

He added that he was also excited to hear from Ajit Jain, Berkshire's vice chairman of insurance operations.

"It's fantastic to have Ajit [Jain] up on the stage to be able to address those issues. There are some wildfire issues that have been impacting the energy business," he added. "So it will be interesting to see if they have any commentary around that."

— Lisa Kailai Han

Berkshire earnings decline, hurt by weakness at insurance business, foreign exchange

Berkshire Hathaway before its annual meeting was set to begin:

• Operating earnings, which include the conglomerate's fully owned insurance and railroad businesses, fell 14% to $9.64 billion during the first three months of the year. In the first quarter of 2024, they totaled $11.22 billion.
• On per share basis, operating earnings were $4.47 last quarter, down from $5.20 per class B share in the same period one year ago. That compares to an estimate of $4.89 per class B share from UBS and an overall consensus estimate from four analysts of $4.72 a share per FactSet.
• The decline was driven by a big drop in insurance underwriting and foreign exchange losses.
• Berkshire warned that rapidly changing trade policies including tariffs could affect operating results, but it was unable to "reliably predict" that impact at this time.
• Its cash hoard ballooned to more than $347 billion, a record, as Buffett was a net seller of stocks for a 10th quarter in a row.

—John Melloy, Fred Imbert

In earnings report, Berkshire says tariffs create 'considerable uncertainty'

Berkshire said President Donald Trump's tariffs and other geopolitical risks created an uncertain environment for the conglomerate, with its vast array of insurance, transportation, energy, retail and other businesses. The firm said it's not able to predict any potential impact from tariffs at this time.

"Our periodic operating results may be affected in future periods by impacts of ongoing macroeconomic and geopolitical events, as well as changes in industry or company-specific factors or events," Berkshire said in the . "The pace of changes in these events, including international trade policies and tariffs, has accelerated in 2025. Considerable uncertainty remains as to the ultimate outcome of these events."

"We are currently unable to reliably predict the potential impact on our businesses, whether through changes in product costs, supply chain costs and efficiency, and customer demand for our products and services," it said.

— Yun Li

Inside Berkshire's shopping extravaganza

This year's shopping event in Omaha is more interactive than ever.

Featuring a gigantic claw machine, a signed book auction and private jet tours, shareholders are able to see displays and buy merchandise from the different holding companies under Berkshire. Some of the longest lines were for specialty Squishmallow toys that resemble Buffett and Charlie Munger.

to go inside the "Berkshire Bazaar of Bargains" held Friday and Saturday with C온라인카지노사이트 reporters on the ground.

— Alex Harring, Yun Li

Berkshire Hathaway shares at record highs

is kicking off its annual meeting on a high note with shares hitting a record high Friday.

Class A shares climbed 1.8% Friday to a new all-time high of $809,350. The stock has rallied more than nearly 19% this year, significantly outperforming the S&P 500.

Some investors seeking relatively safe places to hide find Berkshire appealing because of the defensive nature of its huge insurance empire and the conglomerate's unmatched balance sheet — boasting more than $347 billion in cash at the end of March.

— Yun Li

Investors ask: Are tariffs a double-edged sword for Berkshire?

Ahead of Buffett's address, shareholders are wondering what he'll have to say about President Donald Trump's tariff plans.

Trump's levies have been top of mind for investors as the market has whipsawed over the past month. Buffett in March called tariffs "an act of war, to some degree."

"Over time, they are a tax on goods. I mean, the tooth fairy doesn't pay 'em!" Buffett said with CBS News. "And then what? You always have to ask that question in economics. You always say, 'And then what?'"

All things considered, tariffs should be a "net negative," according to Adam Meade, author of "The Complete Financial History of Berkshire Hathaway." That's because they can hamper businesses within the conglomerate, the Mead Capital Management CEO said during a Friday panel held by Gabelli Funds.

Meade said Berkshire's furniture retailers, for example, should see costs rise due to the taxes. Geico's car insurance business can also take a hit, he said, because auto parts coming into the country will cost more on plans that haven't yet seen annual price adjustments.

Elsewhere, he said BNSF Railway can see container volumes decline if consumers pull back on purchases once the duties fully take effect.

But there's another side to this: Tariff-induced chaos can create a backdrop that's beneficial for Buffett to make a new investment at a discount, according to Christopher Bloomstran, president of Semper Augustus Investments Group. Buffett has a record amount of cash on the sidelines, coming in at more than $330 billion at the end of last year.

"Tariffs, trade wars, recessions, depressions, financial panics, pandemics, these are net good for Berkshire," Bloomstran said during the Gabelli event. "You want a little bit of excitement."

— Alex Harring

Attendees line up early, race for seats

Shareholders began lining up in the early morning hours for a shot at the best seats in Omaha's CHI Health Center.

Attendees near the front told C온라인카지노사이트 they gathered as early as 1 a.m. local time.

As has become an unofficial tradition, participants could be seen sprinting to the frontmost seats on the arena floor around 7 a.m. CT. Buffett is set to take the stage around 8 a.m. CT.

— Alex Harring

Attendees show their love for Buffett through apparel

While many attendees can be seen sporting business or casual attire, some die-hard fans for Berkshire Hathaway and Buffett wear their heart on their sleeve — literally.

Nora Ridenour landed on a shirt featuring the Oracle of Omaha's face in a variety of colors that was inspired by artist Andy Warhol. Ridenour, who came with her husband from Iowa, bought this shirt during her first trip to the meeting in 2019.

"I have a super useful art degree, so this one spoke to me," Ridenour said.

Her husband Jay, who wore a shirt from last year's 5-K run with an illustration of Buffett, said he enjoys coming because of the positive energy among attendees. The family has owned the stock for more than a decade.

"Everybody here is excited," he said. "This is one of the only events that I go to where everybody is just genuinely happy to be here."

Polliana Elena Varnier matched other business students in town. The Brazil native's cohort had black hoodies with a black-and-white picture of Buffett sticking his tongue out.

"We love the way he thinks and the way he lives," she said. "He's not just an investor, he's almost a philosophy."

At a networking event near CHI Health Center, Tina Yin was seen in a shirt screenprinted with a picture of her and Buffett. While she met Buffett in 2017, the Hong Kong-based investor said some people inquired about the photo's authenticity.

"They think it's not a real photo, maybe it's Photoshop," Yin said, referring to the Adobe application for picture editing.

— Alex Harring

Berkshire investors look for Buffett’s guidance on tariffs, market volatility

Warren Buffett has been mum about tariffs and the recent market turmoil, but will finally get a chance to speak his mind when the 94-year-old investment legend kicks off 's annual .

comes as markets have turned uncertain after President Donald Trump's aggressive rollout of the highest tariffs on imports in generations. (Many were suspended for 90 days afterward.) Wall Street economists left and right are sounding the alarms that a recession may be in the offing, as recent data pointed to signs of economic weakening.

The world is eager to hear if Buffett, the most famous advocate of value investing, used the April market meltdown to hunt for bargains and lay the groundwork for deals. Although Buffett doesn't make predictions of short-term market direction, investors will listen closely for any signals of his continued confidence in the U.S. economy — despite the tariff shock.

— Yun Li

Here's the schedule for C온라인카지노사이트's live coverage of the Berkshire Hathaway annual meeting

C온라인카지노사이트 will be livestreaming Berkshire Hathaway's annual shareholder meeting on Saturday, beginning at 8:30 a.m. ET. Watch as Warren Buffett answers shareholder questions. The discussion will likely touch on his view of the market, what types of deals Berkshire could make in the year ahead and other key topics.

Here is a rundown of the day's events:

8:30 a.m.- 9 a.m.: Pre-show anchored by Becky Quick and Mike Santoli

9 a.m. - 11:30 a.m.: Berkshire Hathaway morning Q&A session

11:30 a.m. - 12 p.m.: Halftime show anchored by Becky Quick and Mike Santoli

12 p.m. - 2:00 p.m.: Afternoon Q&A session of annual meeting

2:00 p.m. - 2:30 p.m.: Post-show anchored by Becky Quick and Mike Santoli

Note: Schedule reflects Eastern Time

—Christina Cheddar Berk