In May 2024, the Berkshire Hathaway shareholders meeting, a grand event in the global investment community, hosted by Warren Buffett, was held as scheduled in Omaha, the United States. This year, the meeting was held without the company of Charlie Munger, a long-term partner. Munger passed away at the end of the previous year. The absence of his wisdom and humor cast a nostalgic and solemn atmosphere on the meeting. However, Buffett continued to lead this feast of wisdom with his unique insight and sense of humor.

### 1. Meeting background and emotional resonance

At the opening of the conference, a film paying tribute to Munger was played, expressing deep nostalgia for this "brother and father" partner. Buffett announced that in memory of Munger, "Poor Charlie's Almanack" would be the only book sold on site this year. This move not only commemorated Munger's intellectual legacy, but also conveyed Berkshire's value investment philosophy.

### 2. Market View and Cash Strategy

Facing the focus of investors, Buffett frankly shared Berkshire's cash reserves, which are expected to reach $200 billion by the end of this quarter. He stressed that this money will not be used easily unless an opportunity with extremely low risk and high returns is found. Buffett pointed out that the current market lacks sufficiently attractive investment targets, showing his cautious attitude towards investment opportunities.

### 3. Analysis of Apple’s stock reduction

Buffett explained that the decision to reduce Apple's holdings was mainly due to tax optimization considerations rather than doubts about Apple's long-term potential. He reiterated his confidence in Apple as a long-term investment and invited Apple CEO Tim Cook to the event, highlighting the solid cooperative relationship between the two parties.

### 4. Emerging fields and international perspectives

Although modestly claiming that he is not proficient in technology, Buffett expressed optimism about the future impact of emerging fields such as electric vehicles, solar energy, and artificial intelligence, believing that these technologies will profoundly change the world. At the same time, he compared the investment strategies in overseas markets such as Japan, Canada, India, and China (especially the previous investment in BYD), showing Berkshire's careful consideration in its global layout.

### 5. Succession planning and leadership adjustments

After Munger's death, Berkshire's leadership adjustment became the focus. At the conference, Buffett and his two deputies, Greg Abel, who is in charge of non-insurance business, and Ajit Jain, who is in charge of insurance business, took the stage together to show the smooth transition of power within the company. Buffett spoke highly of the abilities of the two deputies, indirectly responding to the outside world's curiosity and speculation about the successor.

### 6. Artificial Intelligence and Ethical Thinking

Buffett compared artificial intelligence to nuclear weapons, emphasizing that they cannot be taken back once they are invented, and called on society to ensure that AI technology is used for the right purposes, reflecting his dual considerations of scientific and technological progress and ethical responsibility.

### 7. Climate Change Response

In the face of the challenge of global climate change, Buffett discussed its potential impact on the insurance business and promised that Berkshire will flexibly adjust the pricing strategy of insurance products based on scientific risk assessment, demonstrating its emphasis on environmental sustainability.

### Conclusion

The 2024 Buffett Shareholders Meeting is not only a review of the investment performance of the past year, but also a prospect and layout for the future. In the ever-changing market environment, Buffett, with his usual prudent style, conveys his adherence to value investment and keen insight into emerging opportunities. Although Munger is no longer with him, the wisdom of Berkshire still illuminates the way forward for investors. #5月市场关键事件 #美联储何时降息？ #BTC走势分析 #巴菲特承认比特币 #巴菲特股东大会