No. of Recommendations: 1
" Buffett to Address Key Berkshire Questions in Annual Letter
Berkshire Hathaway CEO Warren Buffett is due to release his eagerly awaited annual shareholder letter on Saturday morning and investors may be looking for a road map for the post-Buffett era. The letter will be issued in conjunction with the company’s annual report and fourth-quarter earnings.
This year is Buffett’s 60th at Berkshire’s helm and the company is operating from a position of strength with record operating earnings in the first nine months of 2024 and a record stock price.
There are several things Buffett may address including succession, the company’s huge cash position, investment opportunities, buybacks and dividends, and the role of Berkshire’s investment managers.
Berkshire was sitting on about $310 billion in cash at the end of the third quarter, up from $167 billion at the end of 2023. And the 2024 year-end figure could approach $325 billion. Buffett wrote last year that the cash was “far in excess of what conventional wisdom deems necessary.”
What’s Next: Buffett turns 95 in August and his designated successor, Berkshire executive Greg Abel, is “ready to be CEO tomorrow,” Buffett wrote in his letter a year ago. One possibility would be for Buffett to give up the chief executive job while remaining chairman, however he has given no indication he wants to take that step.
—Andrew Bary"
