2024-05-16 17:26:26 ET
Summary
- Political risk dominated discussions at Berkshire Hathaway Inc.'s annual meeting, with regulations, taxes, and geopolitical issues being the main concerns.
- The potential liability issues caused by wildfires in California and Oregon pose a significant regulatory risk for Berkshire Hathaway.
- Buffett anticipates that taxes may rise in the future due to federal government deficits.
- The current "Warm War" environment could reverse the neoliberal free trade we've experienced the past 30 years.
Introduction
While it is always the case that it's wise to watch what a person does as much as listen to what they say, it was more important than ever at this year's annual Berkshire Hathaway Inc. ( BRK.A , BRK.B ) meeting. Even though I've been a Berkshire shareholder for many years, I don't write many articles about the company because there is already a lot of coverage from other analysts. I prefer to only write about Berkshire when I have something different to add.
Last year, I wrote an article about the five most important themes from the Q&A portion of the annual meeting, and that article was well-received by readers. The response has prompted me to write an article about this year's meeting as well. And this year, there was a single theme that connected and ran through most of the important topics discussed: Political Risk....
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Buffett Q&A: The Single Most Important Theme From Berkshire's Annual Meeting