Buffett calls Greg Abel the successor
Warren Buffett said he will leave his role at Berkshire Hathaway by the end of this year. The decision was shared with shareholders at the annual meeting. Buffett, 94, suggested Greg Abel as the company's next leader. He said he would not sell any of his shares in Berkshire Hathaway.
US tariff policy
Buffett expressed concern about the current direction of U.S. trade policy. He criticized the use of tariffs as a political tool. Buffett warned that using trade to put pressure on other countries would harm relations. He said the United States should not act in a way that causes global frustration. Buffett explained that global trade cooperation is more effective.
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Global Trade Requires Balanced
Buffett said he supports balanced trade between countries. He added that countries should focus on what they do best. He believes that collaboration can lead to better results for all participants. Buffett believes that the world becomes more stable as more countries become economically successful.
Stock market reaction
Buffett addressed the market response after the recent tariff announcement. He said the decline in stock prices was not serious. Buffett explained that during his time leading Berkshire, he saw the company's stock value drop in half. He reminded shareholders that the market has been recovering. Buffett gave an example from the Great Depression, when the Dow Jones index fell from 240 to 41.
FAQ
Who will replace Warren Buffett at Berkshire Hathaway?
Warren Buffett appointed Greg Abel as successor. Abel currently serves as chairman of Berkshire Hathaway.
What does Buffett comment on the recent market decline?
Buffett said the market decline was not serious. He had experienced a bigger decline before and believed the market would recover.
