🗝️ Warren Buffett steps down
Key takeaways
The Berkshire Hathaway weekend was amazing.
You know you’re in a unique place when you cross Bill Gates in the hotel lobby.
Last weekend truly was the Woodstock of Capitalism.
Warren Buffett stepping down
At the end of the meeting, Buffett officially announced he would step down as CEO.
As we know, Greg Abel will replace him.
By doing this, Buffett shows he fully trusts Greg Abel. The company is in capable hands.
The fact that Warren Buffett steps down as CEO doesn’t mean he will not be involved in Berkshire Hathaway anymore. He will keep going as long as he can.
The Berkshire Weekend
The Berkshire Hathaway weekend is more than just the Annual General Meeting.
Famous investors like Vitaliy Katsenelson, Guy Spier, Tom Gayner, and Bill Ackman all hosted (private) events.
I was a panel guest at the Berkshire Hathaway Panel from Mario Gabelli:
We also had dinner with some Partners of Compounding Quality (credits to David H. for taking the picture):
Last but not least, it was great to see TJ again.
He’s one of the smartest guys and best investors I’ve ever seen.
TJ is running Compounding Dividends, providing investors with a steady stream of dividend income.
Key takeaways from the Berkshire Meeting
I summarized the Berkshire Meeting live from the CHI Health Center.
The 3 most important things?
Greg Abel will officially become CEO later this year. Behind the scenes, he is already making all the major decisions
Import tariffs weaken the position of the U.S. economy
Berkshire's biggest problem is its size. It is difficult for them to find interesting investments that move the needle
You want a more extensive summary? I made a summary of over 100 lessons.
Over 1.3 million people have read it so far. You can read it here:
That’s it for today.
Everything In Life Compounds
Pieter
Book
Order your copy of The Art of Quality Investing here
Compounding Dividends
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Used sources
Interactive Brokers: Portfolio data and executing all transactions
Finchat: Financial data