Follow Warren Buffett’s comments and all the action at Berkshire Hathaway’s annual meeting: Live updates
On a cloudy Saturday morning, throngs of Berkshire Hathaway shareholders are waiting in a light rain to get inside the CHI Health Center in Omaha. The economy and the markets are always top of mind at these events, but this year’s meeting comes at a particularly challenging time.
First Republic became the third American bank to fail since March, further fueling fears that a recession is imminent. As ever, investors will look to the 92-year-old Warren Buffett for folksy wisdom in uncertain times. Buffett promised in Berkshire’s shareholders guide to field more questions this year.
With that in mind, CNBC Pro looked at what some of the most pressing topics are likely to be. Questions could range from a discussion of what types of acquisitions the company might make to what is Buffett’s outlook for the banking sector. What’s next for auto insurer Geico also could be fair game.
Here’s the schedule for CNBC’s coverage of the Berkshire Hathaway annual meeting:
9:45 a.m. – 10:15 a.m.: Pre-show hosted by Becky Quick and Mike Santoli.
10:15 a.m. – 1 p.m.: Berkshire Hathaway morning Q&A session with Warren Buffett, Charlie Munger, Greg Abel and Ajit Jain.
1 p.m. – 2 p.m.: Halftime show, hosted by Becky Quick and Mike Santoli.
2 p.m. – 4:30 p.m.: Afternoon session of annual meeting.
4:30 p.m. – 5 p.m.: Post-show anchored by Becky Quick and Mike Santoli.
Investors are hoping to hear Warren Buffett and Charlie Munger’s insights on a myriad of topics, including:
1. Receiving dividend payments.
2. Deciding when a stock’s fundamental story has changed for the worse.
3. Understanding Berkshire’s plans for its cash.
4. Warren Buffett’s thoughts on shareholder activism.
5. What will be the biggest risk to the stock market in the upcoming years?
6. How do you retain great managers?
The annual meeting, dubbed the “Woodstock for Capitalists,” is a two-day event that draws crowds in the thousands. This year, the meeting takes place amid concerns over the economic fallout of the coronavirus pandemic.
Buffett, often called the Oracle of Omaha, is known for his ability to pick long-term investments. His career spans over six decades, during which he has become one of the world’s richest men. He and Munger have a reputation for being candid with shareholders about the company’s successes and failures.
In addition to these topics, one of the most significant issues at the meeting involves climate change. This year, there will be a proposal on the ballot that could force Berkshire to become more transparent about its climate risks.
Shareholders will vote on a motion, which could pressure the company to disclose more information about how it works to reduce emissions. The proposal calls for a report on the potential financial impact on Berkshire Hathaway’s insurance and energy businesses from the transition to a low-carbon economy.
The report would outline how Berkshire Hathaway is dealing with the risks of climate change and how it intends to mitigate those risks. Buffett has publicly acknowledged the threat of climate change, but he has been criticized for not doing enough to address it.
Despite these concerns, investors remain hopeful that Buffett and Munger will provide valuable insight. The market has seen unprecedented volatility in recent months, and investors are eager to hear the two men’s perspectives.
In conclusion, Berkshire Hathaway’s annual meeting is an event eagerly awaited by investors around the world. With the help of Warren Buffett and Charlie Munger’s insights, shareholders hope to make informed decisions about their investments. While the meeting comes at a challenging time, many believe that the Oracle of Omaha and his longtime business partner will rise to the occasion and provide valuable guidance to those in attendance.
