•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Shareholder meeting season is in full swing, with Berkshire Hathaway’s annual gathering in Omaha on Saturday, May 2 serving as the key event for investors. This year’s meeting is expected to look different, as Warren Buffett—who has long shaped the tone and content of the forum—will not be speaking.
For years, Buffett’s remarks helped turn the meeting into a macro-oriented discussion layered on top of company updates. His commentary, alongside Charlie Munger’s influence, drew sustained attention from Berkshire shareholders and the broader investing community.
Although Buffett remains chairman and Berkshire’s largest equity owner, he is not expected to speak this Saturday. With the meeting occurring amid a mixed and unsettled backdrop, the focus shifts to Greg Abel, Berkshire’s new CEO, who officially assumed the role on January 1, after serving as vice chairman for non-insurance operations and being appointed to the board of directors in 2021.
The article points to several factors shaping investor expectations ahead of the meeting: the conflict in Iran has persisted for nearly 60 days, global oil prices have returned above $100 per barrel (Brent), and consumer sentiment is described as being at an all-time low. At the same time, the S&P 500—and some of Berkshire’s equity holdings—are at record highs.
In this environment, investors are expected to look for a “state-of-the-market” style message from Abel, even if the emphasis may shift toward business-level performance rather than Buffett’s distinctive valuation and market commentary.
With Buffett absent, the article suggests Abel may focus more on operational performance and how Berkshire’s businesses are positioned. It also notes that Buffett still has final say on some investment decisions, but Abel’s hands-on experience across Berkshire’s operations could provide additional context on capital deployment and industry impacts.
Investors may also see a broader group of operating executives participate in the Q&A session, with insights spanning insurance, transportation, industrials, and consumer-facing businesses.
A central point of discussion highlighted in the article is Berkshire’s large cash position, estimated at $370–$380 billion. While the piece argues the liquidity buffer is not as alarming when compared with the company’s asset base, it says the cash level has weighed on Berkshire’s returns.
Over the past 12 months, Berkshire shares are down 11%, while the S&P 500 delivered 31% total return. The article also states that Berkshire is the 10th largest by market cap in the S&P 500 Index and that the stock has traded in a range since Buffett announced he would step down as CEO at last year’s meeting. It further notes that the 31-percentage-point gap is the worst for Berkshire since the year 2000.
The article says Abel is likely to reference Buffett’s explanation for Berkshire’s liquidity approach: opportunities are described as too few and too small to meet Berkshire’s required return thresholds, making patience the preferred strategy.
However, it also notes that holders of Class A and Class B shares may want clearer details on how Berkshire will deliver value going forward, including whether the company will adopt a more aggressive investment structure.
Beyond Omaha, the article places Berkshire’s meeting within a busy period for corporate events and investor conferences through June. It notes that Q2 earnings season slows down over the back half of this week, with attention shifting back to key jobs data next week. It also references upcoming mega-cap tech(ish) results for January-through-March.
The article frames Saturday’s meeting as a moment to assess Buffett’s impact on Berkshire and the stock market more broadly, while also preparing for what comes next under Abel’s leadership. It emphasizes that continuity—Berkshire’s long-term ownership mindset, disciplined approach to deploying cash, and its “buy America” focus—will likely remain central.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
