Warren Buffett announces retirement at the end of the year! Directly watching the Berkshire shareholders meeting, the cash level has reached a new high, will the buying point appear within five years?

At the 2025 Berkshire Hathaway Shareholders Meeting, the investment guru Warren Buffett finally announced that he will hand over the CEO position to his successor Greg Abel by the end of the year. This meeting, hailed as the most grand shareholders meeting, also featured many highlights, such as Berkshire Hathaway selling stocks for ten consecutive seasons, with cash levels reaching a new high. Even with Japan's interest rate hike, they have no intention of selling stocks, and used the metaphor of "church and casino" to describe the development of American capitalism. Buffett himself also extensively discussed the current market situation. ABMedia will bring you a firsthand look at the event.

Berkshire Hathaway Sells Stocks for Ten Consecutive Quarters, Cash Reserves Reach New High

According to the report released by Berkshire Hathaway on Saturday, the company has been selling more stocks than buying for 10 consecutive quarters. Berkshire Hathaway sold stocks worth over $134 billion in 2024, primarily by reducing positions in its two largest stock holdings, Apple and Bank of America. Due to this selling wave, Berkshire Hathaway's cash holdings have reached a new historical high of $347 billion.

Jobs' Choice of Cook as Successor Was Correct

At the beginning of the meeting, Buffett first mentioned that after Apple's latest financial report, he listened to Cook's Thursday afternoon conference call, which was the only conference call he attended. He then joked, "Tim Cook has earned more money for Berkshire than I have for Berkshire Hathaway." He also stated that he believed Jobs' choice of Cook as a successor was correct.

Buffett Again Emphasizes Opposition to Trade War

Turning the conversation, Buffett criticized the idea of tariffs and trade protectionism, saying: "Trade should not be a weapon." He stated: "In the United States, we should seek to trade with other countries in the world. We should do what we are best at, and they should do what they are best at." In this paragraph, he did not mention Trump. Previously, he had pointed out that a trade war is a form of warfare, and this speech continued that consistent stance.

Berkshire Hathaway Plans Not to Sell Japanese Assets for the Next Fifty Years

When asked if he would stop investing in Japanese stocks if the Japanese central bank raises interest rates in the future, Buffett explicitly promised not to sell stocks. He stated: "We will not consider selling these assets in the next 50 years." He added: "Taking Apple, American Express, and Coca-Cola as examples, they have performed very well in Japan."

Buffett Finally Retires! Greg Abel to Be Appointed CEO Before Year-End

Buffett stated that Berkshire Hathaway is likely to find opportunities using its cash reserves in the next five years. He said: "A problem in the investment industry is that things don't develop in an orderly manner. The probability of finding a good buying point becomes higher over time, and it's somewhat like death." He then jokingly said he plans to hold onto this cash until the leadership transition, which will give his successor Greg Abel plenty of room to shine.

Grandpa Buffett's Advice to Young Investors: Happy People Live Longer Than Those Doing Things They Don't Like

When giving advice to young investors, Buffett said finding a way to feel satisfied and happy helps people live longer. He said: "I think happy people live longer than those doing things they don't particularly like."

Buffett: Current Market Situation Is Not Much

Discussing recent market turbulence, Buffett stated: "What happened in the past 30 to 45 days is really nothing." He pointed out that during his 60 years leading Berkshire Hathaway, the company's stock price has been halved three times. Therefore, he said the recent US stock market trend should not be viewed as a massive change. Buffett noted: "This is not an extremely bearish market or anything similar."

Casinos represent speculative behavior and short-term profit-seeking activities in the financial market, such as frequent stock trading and derivative speculation. Casinos are filled with temptation, where people chase quick wealth, with rapid capital flow and a lively atmosphere. However, this aspect does not always create substantial value and may bring instability. Buffett points out that the allure of casinos might cause people to overlook the importance of the "church".

Buffett warns that the American economy must maintain a balance between the "church" and the "casino". If excessive focus is placed on casino speculation activities while neglecting the real economy of the church, it may lead to economic imbalance and even threaten long-term prosperity. He believes that in the next hundred years, the United States needs to ensure that the church (real economy) is not swallowed by the casino (speculative market).

Buffett mentions that the reward distribution of capitalism seems "capricious", indicating uneven wealth distribution or market results that may not reflect true contributions. Speculators in the casino might gain short-term profits, while long-term builders in the church might require more time to obtain returns. This reflects his view of capitalism's achievements and imperfections.

Buffett Acknowledges Doge's Vision, but Controlling Government Budget Deficit is Unsolvable

When asked about the Department of Government Efficiency (Doge), Buffett stated that controlling government budget deficit is a problem that can "never be completely solved". Buffett said: "Our current fiscal deficit situation is unsustainable for a very long time. We don't know if this means two years or twenty years, because no country has been like the United States, but this situation cannot continue forever."

Although Buffett did not specifically discuss Doge, he did indicate that reducing budget deficit would be a challenging but important task. Buffett said: "I don't want to do this job, but I think it should be done, but Congress seems not to be doing this job."

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