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Greg and the board didn't even know til just now!

I said that earlier in the week at 90%probability

Wow. I knew it was going to happen eventually, but I’m still a bit shocked.

I suppose this orderly transfer is better than an emergency transition. Plus, Warren will be around for any questions that could arise in the near future. Like for big acquisitions.

I vaguely wondered late last week if there would be an increased interest in shorting BRK, as it was at new highs and with the equity assets marked-to-market, the Monday headlines would be all about BRK's "losses" 2025Q1 compared with prior year.

Now, I'm guessing Monday headlines will be different, and a sugar rush is coming

(Not that it matters in the long run if a gust of wind throws briefly throws off the weighing machine)

--sutton
who hopes WEB will continue to be on stage each May for years to come

misc other factoids:

- when Greg alluded to one of the four Oregon 2020 fires NOT being PacificCorps fault, he was referring to the Beachie Creek/Santiam fire. That implicitly means that they have surrendered any arguments that the other three had another cause than their energized lines
( https://www.perplexity.ai/search/greg-abel-has-ass... )

- Tim "Apple" aka Tim Cook was in the audience, on the main floor behind the board. I can't imagine a busier man, especially now. That he would sit in the fourth row of an auditorium all morning to listen to someone else talk business is a testament to a really first-caliber CEO.

- our Chairman had See's fudge with him on stage this year, not the peanut brittle (I wouldn't want my 94 yo relative eating peanut brittle either)

I’m skeptical having the greatest capital allocator of all time exit earlier than expected will be a Monday “sugar rush” for the company.

I was wordless after the announcement and could barely think or type! I'm not really concerned about how the market responds on Monday...down sharp would be good for those of us who'd like to load up!

Warren's not resigning as CEO until the end of the year. And. I suspect that Greg has been doing more than just getting his feet wet the last several months!

The market won't bring it down sharpley because the earning were somehat on the softer side and the transition from Buffett and Abel will be viewed as smooth transition.

Meeting interest was off the charts this year—because it was widely assumed to be Warren’s farewell.

Sure, it was a shock to hear. You never know the exact timing, but what better place to announce his year end “retirement” —than the Annual Meeting.

I strongly suspect Warren retains the Chairman’s job until his passing. He’ll also be involved in any large deals because there’s no heavy lifting and a ton of benefit for the company. And it’s his baby!

We are all so incredibly grateful for his teaching, his generosity, and the life changing economic benefits so many of us have enjoyed.

I recall the great pride Warren felt when he announced in the 1980s his Alice Buffett Outstanding Teaching Awards to honor the best Omaha teachers. Ben Graham, Warren’s dad, Charlie, and his aunt Alice were perhaps the 4 most influential people in Warren’s life IMO— all people who taught Warren the moral imperative of teaching and sharing wisdom. Warren to me is a teacher first. We are among the many thousands, maybe millions, of his incredibly lucky students. His legacy will live through millions…long after his CEO tenure.

I think they knew there will be a news today, but not sure it’s this

Buffett looks sharp this year than last year
Anyone know what is the thing he ate from the bag in his pocket before the meeting? Is that a candy?

Buffett’s skill is buying good assets but he’s not a good operator. Greg is. Greg is going to squeeze so much profit from these unique assets that stock is going to double in a few years, and Buffett might live to see it. He said himself, that the stock is going to go higher under Greg.

" He said himself, that the stock is going to go higher under Greg."

Back to reality, he wouldn't buy at share 20 percent lower last year BEFORE trump was elected!

I got bored, again, looking forward to recaps from, babyb, rw, the Brookyln investor, and others. Thanks in advance.

I have no idea how or why he would say this? “I have no intention — zero — of selling one share of Berkshire Hathaway. I will give it away eventually,” Buffett said. “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.”

Attended the meeting sitting with a dozen long term buddies and even though we suspected the big news, it was a real gut punch emotionally. The 5 minute deafening standing ovation was priceless, and tears of deep appreciation were dripping down my face and dozens nearby.

Glad he will continue to be Chairman and involved in big issues. We are in great hands with Greg (and Ajit), but this huge announcement will take some time to sink in. WEB knows best and I’m glad he made this thoughtful decision on his own terms. The transition will be orderly.

As usual, Warren prioritized the health of BRK and us owners’ interests more than his own. God Bless him. I cannot imagine the joy he has knowing how many lives he has impacted so deeply and will continue to impact thru enormous philanthropy.

As usual, Warren prioritized the health of BRK and us owners’ interests more than his own. God Bless him. I cannot imagine the joy he has knowing how many lives he has impacted so deeply and will continue to impact thru enormous philanthropy.

Amen to that! Words can't describe the deep sense love, appreciation & gratitude I & countless others feel towards Warren & Charlie. End of an era for sure. Even though we all knew the day would eventually come, it is still shocking.

"I’m skeptical having the greatest capital allocator of all time exit earlier than expected will be a Monday “sugar rush” for the company."

The sugar rush would come in the form of Wall Street group think that the company would be easier to "break up' thus "unlocking value". Of course this is all complete nonsense but that' how these people operate. Warren has talked about this possibility many times. Given the fact there have been no repurchases it's fair to say Warren himself thinks the company is not cheap although he did mention the new 1% tax as a bit of a headwind on that. Anyway, I don't expect any sugar rush and either way it means absolutely nothing until we start digesting results under Greg.

"Buffett looks sharp this year than last year
Anyone know what is the thing he ate from the bag in his pocket before the meeting? Is that a candy?"

Heisenberg's blue sky meth from Breaking Bad! Kept him amped up for 6 hours!! :-). I kid, I kid...... And yes I agree he sounded very sharp. Makes me wonder how much he will be stepping back. There's a possibility this is strictly a physical thing where he doesn't feel like putting in the energy required to do it full scale.

It was the end of the meeting so there wasn't any chance to add context but he did mention he still plans on "being around". How much is the question? I think Greg has been doing most of the heavy lifting on the operating side of things so I view this as being seamless but if Warren's still fairly involved in capital deployment on stock purchases and the bagging of elephants that would be wonderful!

The 5 minute deafening standing ovation was priceless, and tears of deep appreciation were dripping down my face and dozens nearby.

Same here at the keyboard. I don't know what has made the bigger impact on my life, the pile of money he has made me or the pile of wisdom he has offered.

I have no idea how or why he would say this? “I have no intention — zero — of selling one share of Berkshire Hathaway. I will give it away eventually,” Buffett said. “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.”

I can think of a couple of reasons.

I think the "not selling" comment is just to emphasize to the less informed in the world's investment community that this is not a case of "I'm done, I'm out, ditching my stock tomorrow". It preempts one of the more idiotic potential causes for a price crash on Monday. And for those in the know, a reminder that his plan remains in place to sell none and leave it all to charity in a way that liquidation is gradual--nothing unexpected is happening.

The "decision to keep every share" being economically sensible emphasizes that "not selling" notion, while expressing confidence in the future value growth. And, if one squints, a reminder that he's not dead yet.

Jim

" I think the "not selling" comment is just to emphasize to the less informed in the world's investment community that this is not a case of "I'm done, I'm out, ditching my stock tomorrow". It preempts one of the more idiotic potential causes for a price crash on Monday. And for those in the know, a reminder that his plan remains in place to sell none and leave it all to charity in a way that liquidation is gradual--nothing unexpected is happening.

The "decision to keep every share" being economically sensible emphasizes that "not selling" notion, while expressing confidence in the future value growth. And, if one squints, a reminder that he's not dead yet.

Jim"

Good morning, it's always a treat to get your fair and balanced opinions on Buffets, statements. YOU, should have been an American Politian, either party would be fortunate to have you. The mayor of brkville doesn't do you justice! Let's play, what Buffett MEANT to say.

I, WB, have never sold one share of brkb in a taxable account, and I never will. Therefore, I will never realize one dime in tax liability while turning a few million into 200 BILLION in untaxed long term capital gains, over 60 years. Brkb doesn't pay a dividend hence no taxable event there as well. The foundations will continue to sell off my life's work TAX FREE!

I, WB, have not bought back one share of brkb since it was 25 percent lower a year ago at around 401. brkb has become a meme stock, if you want educated opinions on valuation, read social media sites like Reddit because I have no idea how to value brkb, or what greater fools will pay for it.

I, WB, am so uncertain what impact trumps tariff wars will have on iconic brands globally like Coke, Kraft Heinz, Apple, Amex, etc I'm hoarding cash like a man with an unusually high level of fear!

I, WB, continue to refuse to disclose the investing performance of T and T, despite the huge edge I have given them, aka, the Buffett Bounce, after their buys are erroneously reported by the media as, Buffett buys. WHO will be investing our 340 billion without the benefit of this deliberate effort to deceive the investing public?


As always, I appreciate you pointing out what I have wrong, and I'll leave it there for now. Stay healthy, old bud. hc.

Buffett's greatest strength is that he knew the edges of his circle of competence very well. That is one of the reasons I was never worried about him losing it. He would know well before anyone when it was time to step back.

Even in retiring he is proving to be incredible.

same here .. I also started one of my nephews on reading BRKB and owning shares, not such a common thing in europe. When he helps me in a project I pay him a share to help him build. His knowledge , from Warren, thru me, is spilling out like a small pebble dropped in a pond, to his siblings...

I cannot undervalue the mindset and the investing prowess, so freely given by Warren, which has now added to the security of 3 generations in my family. Do you think he realises what a gift he has given so many ? I sure hope so.

"Buffett’s skill is buying good assets but he’s not a good operator. Greg is. Greg is going to squeeze so much profit from these unique assets that stock is going to double in a few years, and Buffett might live to see it. He said himself, that the stock is going to go higher under Greg."

This is my view as well. I could not watch the Annual Meeting live, so I just saw the video. My takeaways:

1. WEB is a teacher, Greg is a coach.
2. WEB mentioned Steve Jobs as the visionary and brilliant creator of Apple enterprise v Tim Cook who took it to new heights with managerial excellence. That seems to be the playbook here.
3. Greg's highest priorities will be to manage reputation and risk company-wide.
4. Greg as CEO will focus on the operating companies, let others (Todd & Ted?) manage investments day to day, and will evaluate all significant opportunities to deploy capital.

I have no idea what the stock will do tomorrow or next week, but I'm quite happy owning it. My prediction is that it will continue to consistently outperform the indexes with less risk and volatility. We'll see.

Onward!

abromber

Down 3% pre market.

It was a good move, probably a year overdue.

I seriously doubt Warren Buffett - health permitting - is going to walk away from Berkshire Hathaway or the annual meetings. Abel will have his phone number and he'll pick up. The longer the overlap of Buffett's active chairmanship while Abel is assuming the CEO role the better; Abel is up to it, but it is still a vulnerable period. There will have a lot of knives out for him just by virtue of position. It is one thing to have Buffett's imprimatur, but it is even better to have a Buffett with his full faculties able to actively support him if necessary.

I look forward to Buffet as chairman and Abel as CEO. I can't think of a more impressive active CEO / COB pair. It is a glib analogy, but I think of Michael Corleone with Vito taking over from Tom Hagen as his "wartime consigliere". I also think of Microsoft. If I recall correctly, Gates stayed on for 5+ years until stepping down for Nadella to assume Chair + CEO (and MSFT appreciated 400-500% in that time).

I'm glad for Buffett, too. Better that he can see firsthand that his and Charlie's lives' work is in good hands, and that he succeeded at the most important job of successfully passing the torch.

... orderly transfer ...

This eliminates a concern that many have stated: a sudden stock selloff when WEB passes away. As always, aligning his interests with the shareholders is one of his primary motivations.

Neil

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