Warren Buffett's annual Berkshire Hathaway meeting: What to watch
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Berkshire Hathaway will hold its annual shareholders meeting on Saturday.
Chairman and CEO Warren Buffett, Vice Chairman Charlie Munger and other executives will address Berkshire shareholders and answer their questions virtually for the second year in a row because of the COVID-19 pandemic. That means that the usual festivities that go along with the meeting – and the crowds of 40,000 or more – that have earned the event its nickname of "Woodstock for capitalists" have been canceled.
Instead, Buffett, Munger and Vice Chairs Ajit Jain and Greg Abel will appear via livestream on Yahoo Finance. Munger had missed last year’s meeting because of pandemic travel restrictions, but Buffett wrote in his annual letter earlier this year that he would travel to Los Angeles for the meeting broadcast with Munger, who lives in California.
The event is scheduled to begin with a pre-meeting show at 12:30 p.m. EDT followed by a Q&A from 1:30 to 5 p.m. and a formal shareholder meeting from 5 to 5:30 p.m.
Ahead of the meeting, Berkshire is set to release its first quarter earnings report Saturday morning.
|BRK.A||BERKSHIRE HATHAWAY, INC.||412,500.00||-5,405.00||-1.29%|
|BRK.B||BERKSHIRE HATHAWAY, INC.||274.70||-3.02||-1.09%|
WARREN BUFFETT'S ANNUAL LETTER TO BERKSHIRE HATHAWAY SHAREHOLDERS
Last quarter, Buffett announced the company’s profits rose 23% thanks to stock market gains of its major holdings in businesses like Apple.
Analysts are reportedly expecting another positive quarter, and Berkshire Class A stock recently surged to a new high of more than $417,000 per share on Thursday. Berkshire’s soaring stock price has pushed Buffett’s personal fortune over $100 billion, the Associated Press reported.
Berkshire will announce how much of its stock it has bought back. Last year, the company made $24.7 billion in buybacks. And in his annual letter, Buffett wrote that Berkshire had continued repurchasing shares.
"The math of repurchases grinds away slowly, but can be powerful over time," he wrote.