The Super Bowl of Investing Is Here— As Berkshire’s Annual Meeting Approaches, All Eyes Are on Buffett

On May 3rd, the annual Berkshire Hathaway Shareholders Meeting returns to Omaha.

This year’s gathering isn’t just another Q&A session with the Oracle of Omaha—it could be Warren Buffett’s final appearance at the helm. It also marks the 60th anniversary of his acquisition of Berkshire Hathaway. With global markets rattled by Trump’s aggressive economic policies, investors are more eager than ever to see how Buffett plays his final hand.

Here are four key themes to watch. They suggest that this isn’t just a shareholders meeting—it’s a dress rehearsal for the post-Buffett era.

1. Is Buffett Really Taking His Final Bow?

From his February shareholder letter to the format of this year’s meeting, the signals are clear: at 94, Buffett is gradually stepping back and letting Greg Abel take the lead.

Abel, who oversees Berkshire’s non-insurance businesses, is known for being pragmatic and hands-on. The big question is whether he can carry forward the Berkshire legacy of long-term thinking and ultra-disciplined risk management. That’s test number one for the market.

Buffett’s children, Howard and Susan, are also expected to maintain some influence over Berkshire through trust arrangements. But Buffett still controls roughly 30% of the company’s voting power. As that stake gets donated over time, the Buffett family’s influence is heading into a countdown.

2. What Will Happen to Berkshire’s $334 Billion Cash Pile?

Yes, $BRK.A is sitting on a record $334 billion in cash—more than the foreign reserves of many countries.

So what does Buffett plan to do with it?

His recent moves—trimming big positions like Apple and Bank of America—suggest a shift to defense. Is he stockpiling dry powder for a future market crash? Preparing for volatility after he retires? Or—perhaps—gearing up to fully acquire Occidental Petroleum, as some speculate?

There’s also a quieter view: don’t expect fireworks. Over the past five years, Buffett has been a consistent net seller. He’s a patient, disciplined investor. Even if the world wants a big play, he may simply choose not to act.

3. Will Buffett Take On Trump’s Policies?

One unexpected flashpoint this year could be how Buffett responds to Trump’s economic agenda.

From trade wars and pressure on the Fed to offbeat geopolitical moves, Trump’s actions have shaken market confidence. Meanwhile, Buffett has clearly been shifting his portfolio inward—reducing global exposure, scaling down Apple, and leaning heavily into U.S. energy plays.

Back in March, he made a rare public comment: tariffs are “a hidden tax on consumers.” If he expands on that view during the meeting, his words could make headlines.

4. Buffett’s Next Moves: Japan? Europe?

As U.S. valuations stretch higher—Buffett’s favorite market cap-to-GDP ratio has soared past 200%—he’s been quietly placing bets overseas.

Take Japan. Using ultra-low interest debt, Buffett made large investments in the five major trading houses. Those positions have grown from $13.8 billion to $23.5 billion—a textbook example of value investing at global scale.

Europe also looks increasingly attractive: low valuations, stable cash flow, and less competitive heat. As for China? His gains on BYD still stand out, but with U.S.-China tensions simmering, whether he’ll make another bet there remains to be seen.

Final Thoughts

The annual Berkshire meeting is often described as “the Super Bowl of investing”—a gathering where investors return to their core beliefs in value and patience. But this year is different.

On one hand, we may be watching a legendary investor deliver his farewell address. On the other, the financial world is changing fast, and people are beginning to question whether Buffett’s methods still work in today’s chaotic cycles.

What moves will he make? What will Berkshire look like without him? These are no longer theoretical questions—they’re the big test of this transition.

So—do you think the baton is being passed with a steady hand?