The top reason: planning succession
Suggesting it might be his last-ever shareholders' meeting, Buffet stated that Abel, who is currently vice president of non-insurance businesses, would take on the mantle as his successor.
Changes to investment strategy and the portfolio
Berkshire Hathaway has made huge changes to the investment portfolio. The influence of the stake held by Berkshire Hathaway in Apple has been severed, raising inquiries from investors on whether or not it is an indication of something broader in the tech sector. Furthermore, the company is reported to have invested more in energy and quick service restaurant sectors.
Cash reserves and financial positions
As of this month, Berkshire Hathaway has cash reserves amounting to $334.2 billion, which is double what it had last year. Investors were interested in figuring out how Buffett was going to spend this cash. Some analysts said this will act as insurance against the possibility of a downturn in the economy.
Financial results for the first quarter.
The first quarter revenue of this company was $89.73 billion, which is about 0.2% less than a year ago. As compared to analyst predictions, the net profit was barely $4.6 billion.
Market and economic uncertainties
The US economy faced President Donald Trump's tariff policies, which were also debated at the meeting. Buffett said Berkshire's long-term strategy would not be affected by such uncertainties.