Read more about Berkshire meeting: Buffett defends investments and slams Wall Street on Business Standard. Buffett, 91, who is Berkshire’s chairman and chief executive, and Vice Chairman Charlie Munger, 98, fielded questions in a downtown arena in Omaha, Nebraska
on Saturday railed against excess, and after spending tens of billions on stocks and in March extolled the virtue of keeping lots of cash, as he hosted Inc’s first in-person annual meeting since 2019. Buffett,91, who is Berkshire’s chairman and chief executive, and Vice Chairman Charlie Munger,98, fielded questions in a downtown arena in Omaha, Nebraska. Vice Chairmen Greg Abel, Buffett’s designated successor as CEO, and Ajit Jain also joined them. The meeting came after Berkshire revealed it had scooped up more than $51 billion of stocks in the first quarter, including a much larger stake in Chevron Corp, and has for now stopped repurchasing its own stock. Berkshire also said operating profit was little changed in the first quarter, as many businesses were able to boost revenue despite supply chain disruptions caused by the Omicron variant of COVID-19 and Russia’s invasion of Ukraine. Buffett had in his annual shareholder letter in February bemoaned the lack of investment opportunities. That prompted a shareholder to ask what changed in March, when Berkshire bought 14.6% of Occidental Petroleum Corp and agreed to pay $11.
