Berkshire Hathaway's 2025 Annual Meeting: What You Really Need to Know

Warren Buffett just hosted his 60th—and possibly most important—Berkshire Hathaway’s annual meeting.

The energy was high, the crowd hit record numbers, and the message was clear:

“Berkshire is as sharp, patient, and prepared as ever…”

Here’s the distilled recap. No fluff. Just the insights that matter!

🧠 Buffett's Core Messages

• Stay liquid. Stay patient.
  Berkshire now holds over $189 billion in cash. Why? Because bargains don’t appear on a schedule. Buffett: “Size is our enemy, but patience is our advantage.”

• Fat pitches are rare—but inevitable.
  He expects major buying opportunities “in the next 5 years, not 50.” Until then? Sit tight. Be ready.

• Still bullish on America—cautiously.
  Despite dysfunction in Washington and currency concerns, Buffett reaffirmed his belief in America’s long-term tailwinds—but warned: “Fiscal policy is what scares me.”

📈 Performance Highlights

• Insurance power play.
  GEICO is back in form. Under Todd Combs, workforce was trimmed by 20,000+ and underwriting profits surged.
  Ajit Jain says GEICO now leads in telematics and risk pricing—a reversal from just 3 years ago.

• Apple gets the Buffett blessing.
  Buffett publicly praised Tim Cook, calling him a better capital allocator than himself. Apple remains Berkshire’s largest stock holding.

• Japanese trading firms: locked in.
  Buffett and Abel plan to hold Berkshire’s ~$20B investment in Japan’s trading houses “for 50 years or more.” These are long-term compounding machines.

🔮 Personal Takeaways

I’ve followed Berkshire meetings for years. This one hit different.

• Buffett looked mortal. At 94, he’s still sharp—but slower. You could feel the gravity of this possibly being his last time at center stage.

• Greg Abel is the real deal. Calm, clear, and competent. He’s not Buffett—but no one is. And that’s okay.

• Ajit Jain is Berkshire’s secret weapon. Every time he speaks, I’m reminded how rare true insurance genius is.

🧭 Key Quotes

• “Trade should not be a weapon. We've already won.”

• “I’d rather have $100B in Japan than $20B. But size is our enemy.”

• “If your temperament can't handle a 15% drop, you shouldn't be in the market.”

• “You only have to get rich once. Don’t risk what you have and need for what you don’t.”

⚠️ Why This Meeting Matters Now

• Markets are fragile.

• AI and autonomy are reshaping industries.

• Governments are printing and spending recklessly.

• And Berkshire? Quietly getting stronger.
  
  

When panic hits, they’ll be buying. Again.

👋 Final Thought

Buffett and Abel didn’t unveil new acquisitions or share buyback plans. Instead, they reiterated Berkshire’s formula: liquidity + patience + discipline = long-term outperformance.

They know something’s coming. They just don’t know when…