- Warren Buffett’s Berkshire Hathaway is hosting its annual shareholder meeting on Saturday.
- Buffett and his business partner, Charlie Munger, are set to discuss a wide range of topics.
- Follow along for live updates from the meeting.
Warren Buffett’s Berkshire Hathaway is hosting its annual shareholder meeting in person this weekend for the first time in two years. Insider is live at the event, which has been heralded as “Woodstock for Capitalists.” Follow along for live updates on what Buffett, his partner Charlie Munger, and the rest of the Berkshire team are saying.
Buffett, perhaps the most famous bargain hunter in the world, has struggled to find bargains over the past two years. Stocks marched to record highs, private equity firms and special-purpose acquisition companies (SPACs) bid up the price of acquisitions, and Berkshire’s rising stock price made the shares less enticing to repurchase.
However, Berkshire has boosted its buying this year. It plowed about $7 billion into Occidental Petroleum stock in 11 days, snapped up $4 billion of HP shares, and struck a deal to acquire Alleghany for $11.6 billion in under two weeks.
Buffett’s company reported first-quarter earnings before the meeting on Saturday. It revealed that it plowed a net $41 billion into stocks, slashing its cash pile by 28% to $106 billion. It also slowed share repurchases to $3.2 billion, marking its lowest level of buybacks since the first quarter of 2020.
Berkshire owns scores of businesses including Geico, See’s Candies, and the BNSF Railway, and holds multibillion-dollar stakes in Apple, Coca-Cola, Kraft Heinz, and other public companies.
Buffett is widely expected to discuss Berkshire’s latest purchases, and discuss the concerns roiling financial markets including rampant inflation, rising interest rates, Russia’s invasion of Ukraine, and continued supply chain disruptions due to the COVID-19 pandemic.
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