What Did Buffett Say at the Shareholders' Meeting?

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Warren Buffett, aged 93, held his first Berkshire Hathaway shareholders' meeting this weekend without Charlie Munger, his longtime partner at Berkshire Hathaway, who passed away at the age of 99.

Following the meeting, it was revealed that Berkshire Hathaway's cash reserves are at record levels and continuing to grow, reflecting the challenge of finding stocks for the value investing strategy that has defined billionaire Warren Buffett's success.

Cash, cash equivalents, and short-term Treasury bills for Buffett's group totaled $189 billion at the end of March, up 13% from the end of 2023. "It is fair to assume that by the end of this quarter they will probably be around $200 billion," Buffett said.

According to the legendary investor:

  • Berkshire sold about 13% of its Apple shares;
  • reduced its stake in Chevron by approximately 2%;
  • Coca-Cola and American Express are "wonderful companies";
  • the Indian stock market may present "untapped opportunities";
  • "We only pick those areas that we like."

Technical analysis of Berkshire Hathaway stock B (BRK.B) shows that:

  • the price is forming an ascending channel (shown in blue);
  • after forming a historical high (A), the price showed a sharp decline – a bearish sign;
  • attempts to surpass this high were unsuccessful, with peak B ending at a lower level – confirming supply-side activity at price levels around $420 per share of BRK.B;
  • bulls have the opportunity to bounce off the channel's median line to demonstrate their determination – aided by psychological support around $400 per share.

However, with each candle on the price chart of BRK.B, a descending channel (shown in red) becomes clearer – indicating a correction within the current upward trend and suggesting potential price decline of BRK.B towards the channel's lower boundary.

According to TipRanks, the average price target for BRK.B is $443 over the next 12 months.