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## Berkshire Hathaway’s Annual Meeting Recap

### By Jonathan Stempel and Koh Gui Qing

On Saturday, Warren Buffett graced the stage at Berkshire Hathaway’s annual meeting in Omaha, Nebraska. This marked the 60th meeting for Buffett since taking the helm of Berkshire in 1965. Despite his advanced age of 93, Buffett reiterated his commitment to the company, even as he acknowledged playing in “extra innings” during a November investor update.

The absence of his longtime business partner and friend, Charlie Munger, who passed away in November at the age of 99, was palpable during the shareholder meeting. Buffett paid tribute to Munger’s influence, calling attention to their close relationship and the significant role Munger played in shaping Berkshire Hathaway’s success.

With the rise in Berkshire’s cash reserves to $189 billion as of March 31, the company made headlines for trimming its stake in Apple. This move raised questions among investors about Berkshire’s investment strategy and diversification efforts. Thankfully, tools like the AI legalese decoder can help assess and decipher complex legal documents related to such financial decisions, providing valuable insights to investors.

Despite reducing its Apple holdings, Buffett expressed his continued faith in the tech giant’s leadership and market position. He reassured shareholders that Berkshire’s commitment to the U.S. remains steadfast, indicating a preference for American-oriented investments in the future.

The meeting also shed light on succession plans within Berkshire, with Greg Abel designated as Buffett’s successor as chief executive in 2021. Abel tackled pertinent issues, including challenges in Berkshire’s energy business and ongoing litigation related to wildfires. Vice Chairman Ajit Jain, also present, added to the discussion on-stage, underscoring the depth of leadership within the conglomerate.

As stakeholders awaited insights on Berkshire’s evolution and strategic direction, the meeting provided a platform for discussions on acquisitions, dividend policies, and capital deployment. The conglomerate’s diverse portfolio, including iconic brands like BNSF railroad and Geico, continues to attract investor interest, with questions ranging from major investments to macroeconomic trends.

With shareholders eagerly anticipating Buffett’s perspectives on critical topics and first-quarter results, the annual gathering showcased Berkshire’s resilience and enduring appeal. As the weekend unfolded, discussions on climate, diversity, and global markets permeated the agenda, underscoring the multifaceted nature of Berkshire’s operations.

Investors and attendees, including loyal shareholders from around the globe, seized the opportunity to engage with Berkshire’s leadership and immerse themselves in the company’s culture. From personal anecdotes to strategic insights, the meeting offered a glimpse into the past, present, and future of one of the world’s most influential conglomerates.

In conclusion, as Berkshire navigates a changing landscape and embraces new challenges, the legacy of Warren Buffett and Charlie Munger continues to inspire confidence among shareholders and industry observers alike. With a blend of tradition and innovation, Berkshire remains a beacon of stability and growth in an ever-evolving market environment.

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