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| Warren Buffett |
1. A Historic Gathering in Omaha
On May 3, 2025, thousands of shareholders gathered in Omaha, Nebraska, for what turned out to be one of the most memorable Berkshire Hathaway Annual Shareholders Meetings ever. This event marked Warren Buffett’s 60th consecutive appearance and his last as CEO. Known as the “Woodstock for Capitalists”, the meeting drew record-breaking crowds as Buffett shared his final insights as leader and named his successor.
In the day’s biggest moment, Buffett officially announced Greg Abel as the next CEO. “Greg understands the culture of Berkshire,” Buffett said, praising Abel’s sound judgment and humility. Abel, already Vice Chairman of Non-Insurance Operations, promised to maintain Berkshire’s decentralized management style and long-term investment philosophy a seamless succession that won praise for its clarity and foresight.
2. Wisdom for an Uncertain World
Buffett also offered his signature clarity on investing in today’s volatile environment. “You don’t need a crystal ball to invest,” he said. “You need temperament, not intellect.” He emphasized that managing fear and staying patient are more important than trying to predict economic cycles.
The absence of Charlie Munger, who passed away in late 2023, was felt deeply. Buffett paid tribute to Munger’s wisdom and partnership, calling him “the architect of Berkshire’s insights.” A highlight reel of Munger’s legendary quotes reminded everyone how central he was to the firm’s philosophy.
In a surprising note, Buffett also warned of the rising risks in the utility sector, citing climate-related wildfire liabilities that have already cost Berkshire Hathaway Energy’s PacifiCorp more than $1 billion. “We used to think of utilities as bulletproof,” he said. “Now they’re not even windproof.” This caution underscored Buffett’s ongoing adaptability even after decades of steady investing.
Buffett’s message is timeless: successful investing relies on discipline and emotional control, not forecasting or chasing trends.
3. Challenges Ahead and Berkshire’s Strategy
Buffett once again voiced his faith in American capitalism, reminding shareholders, “Never bet against America.” But he also warned about ballooning federal debt and unsustainable spending, calling for structural solutions rather than quick fixes. “Printing money is not a sustainable economic strategy,” he quipped.
On Berkshire’s own strategy, Buffett highlighted the difficulty of finding new acquisitions at reasonable prices, given the “frothy” market. Berkshire’s cash reserves remain above $150 billion, poised to move when opportunity arises. Apple, one of Berkshire’s largest investments, continues to earn Buffett’s praise for its brand strength and loyal customers.
Interestingly, Buffett said he’s “watching but not chasing” artificial intelligence. While AI will undoubtedly disrupt industries, he argued that “understanding human nature will always matter more than predicting technology.”
In his closing remarks, Buffett grew emotional as he thanked shareholders and employees for their decades of trust. His parting words captured the heart of Berkshire’s culture: “Stay in your circle of competence. Be patient. Ignore the noise. And always do business with people you trust.”
If you missed the live stream, you can watch the full event here:
Warren Buffett presides over the 2025 Berkshire Hathaway annual shareholder meeting
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