Berkshire Hathaway’s narrow moat brk.A / brk.B The annual meeting was always interesting, but not always a major source of meaningful insight. This year’s event had the feel of past meetings, but the setting was the same, with a hordes of shareholders present, and the company’s top managers were asking questions from CNBC’s Becky Quick and shareholders during the meeting.
Although I didn’t expect this announcement when I attended the meeting, I focused on “10 questions to be asked at our 2025 Annual Meeting.” I was asking far more inheritance-related questions than I had in the past few years. In November 2023, after Berkshire Vice Chairman Charlie Munger died for 40 and a half years, and Buffett’s longtime confidant died, he focused on succession planning at the company when considering not only from a human resources perspective but also capital allocation.
To summarise the important takeaways from this year’s meeting, we highlight the following: Abel’s ability to become both an investor and an operator will be under further scrutiny. Berkshire’s growing cash storage will be a bigger topic of conversation with the changes in management that are happening at the end of the year. Despite GEICO’s continued improvement, the insurance business has come down to the planet. And the company’s shares have been slightly overvalued in Buffett, even closing share repurchases over the past year.
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