Please enable JS and disable any ad blocker playSee why NFL scouts call Penn State's Tyler Warren a 'Swiss Army Knife' (1:41)Check out highlights from Penn State TE Tyler Warren ahead of the 2025 NFL draft INDIANAPOLIS -- Colts scout Chad Henry is among the franchise's most experienced evaluators, so he was able to tap into his institutional knowledge when looking to contextualize the scouting process of first-round pick Tyler Warren Henry flashed back to fall 2006 when he was scouting then-Georgia Tech receiver and future Hall of Famer Calvin Johnson in a game against Virginia Tech "I scouted him in three plays," Henry said "He caught a standup screen and outran the Virginia Tech defense for 80 yards He had a one-handed catch in the end zone on a fade where he made the corner look like a child is how it felt while watching Warren lead Penn State past USC last October It wasn't just Warren's stunning 17 catches or 224 receiving yards with Warren contributing to the offense in almost every way When he wasn't catching a ball over two defenders he was lining up under center and powering for a first down on a third-and-1 And when Warren wasn't running over defenders in the open field he was throwing a pass to a receiver for a 9-yard completion outside screens and dominated in every manner It's kind of the same thing [as Johnson]." Warren's performance against USC and his other similar outings have the Colts thinking about the ways they can also utilize the 14th overall pick Expect Warren to have a role as a conventional tight end But don't be surprised if his impact extends well beyond that "He's a guy that can do it all," Colts coach and playcaller Shane Steichen said the Colts are seemingly thrilled with their pick Indianapolis was last in the NFL in tight end receptions last season (39) and 31st in tight end receiving yardage (467) Given their lack of moves at the position in free agency landing Warren or Loveland was critical to upgrading the unit "It'll be fun to have him," Steichen said about the myriad ways Warren can be used This plan was further cemented when the Colts met Warren and quizzed him on scheme-related issues Warren showed command of all facets of the offense It's that command that allows him to have such a varied impact "To use him the way that [Penn State] used him in the spots that they line him up you could see the former quarterback in him And when he came into our room at the combine Though Warren can impact the game in many ways no one will mistake him for a gadget player His toughness is one of his main qualities and it's one that drew the Colts to him as much as anything else Warren is a powerful runner after the catch who often requires multiple tacklers to take him down "Watch the guy run on the goal line," Henry said That toughness influences Warren's blocking The Colts expect him to be heavily involved as a run blocker this season That will allow him to remain on the field in passing and running situations which makes him more dangerous because his presence does not serve as an indicator to defenses Though he'll need to fine-tune his blocking "I think it's really your mentality to want to do it," Warren said of his blocking It's just one of the many things the Colts will ask of Warren If he can duplicate even some of what he demonstrated against USC and two cans of Coca-Cola were on the table investors rush to Omaha to listen to the words of the legendary man Buffett has been one of the most successful investors of all time famed for evaluating prospects from a value point of view instead of chasing hot stocks The day before this shareholders' meeting Berkshire's market value hit a new high of $1.16 trillion despite a sell-off across the U.S Berkshire's Class A  (BRK.A)  and  (BRK.B)  shares rose about 1.8% on May 2 and are up about 19% this year. The S&P 500 index is down 3.3% over the period Buffett isn’t rushing to take advantage of the recent downturn Buffett has seen three periods when Berkshire’s stock was halved Image source: Eisele/Getty Images Buffett doesn’t see big opportunities amid recent market sell-offWhen asked about whether the recent market volatility has offered opportunities for big investments "This is not a huge move," Buffett says about the moves in the stock market in comparison to historical downturns like the 1929 crash. "This has not been a dramatic bear market or anything of the sort," he says when the Dow fell from 240 at his birth in 1930 to just 41 The Dow Jones Industrial Average closed at 41,317.43 on May 2 Berkshire is now one of the largest conglomerates in the country Its investment portfolio's biggest holdings include Apple AAPL Berkshire has gradually trimmed its holdings in Apple and Bank of America Apple holdings dropped from 915 million shares in the third quarter of 2023 to 300 million by the end of 2024 Bank of America was trimmed from 1 billion to 680 million shares over the same period The conglomerate is now sitting on some $347 billion in cash, which is greater than the combined cash holdings of Apple, Microsoft  (MSFT) , Google parent Alphabet  (GOOGL) , and Amazon.com  (AMZN) Buffett said he doesn’t see many attractive investments that he understands these days but he believes that one day Berkshire will be “bombarded with opportunities that we will be glad we have the cash for.” and Buffett reminds them to stay rational: "If you get frightened by markets that decline and get excited when stock markets go up.. but you've got to check them at the door when you invest." Buffett plans to step downBuffett studied under Benjamin Graham at Columbia University in the early 1950s He took control of Berkshire Hathaway in 1965 and shifted it from a textile maker into a powerhouse spanning insurance Buffett has long been a living symbol of patience Buffett shared a message that could signal the end of an era: He plans to step down "I think the time has arrived where Greg should become the chief executive officer of the company at year end," Buffett said "I would still hang around and conceivably be useful in a few cases but the final word would be what Greg said Buffett then added he would not sell any Berkshire shares "The decision to keep every share is an economic decision because I think the prospects of Berkshire will be better under Greg's management than mine," he said She has experience with the Financial Times and holds a Master’s Degree from New York University’s Business and Economic Reporting program Want TheStreet’s best daily stock and investing news right in your inbox every weekday Sign up today for our free newsletter and you'll receive an exclusive report explaining hedge fund guru Doug Kass' winning investment style BY PHIL ROSEN, CO-FOUNDER AND EDITOR, OPENING BELL DAILY @PHILROSENN Illustration: Inc; Photo: Courtesy publishers Never have I waited in a 40-minute line to buy a book I knew nothing about But that’s what happened at Berkshire Hathaway’s annual shareholder meeting which told its 40,000 attendees it would have only 5,000 copies of this year’s book on site in Omaha It’s the second year in a row Warren Buffett promoted just one title at his event I didn’t know anything about 60 Years until I had it in my hand Those who waited in line next to me said the same But because it’s Berkshire Hathaway — and because it’s Buffett — we were all happy to wait as long as it took In his shareholder letter published ahead of the conference Buffett said the book blew him away with “its ingenuity the attendees I’ve met all agreed the contents of the book mattered less than the fact they secured one The demand would be overwhelming no matter what the book was Thousands of us stood in line not for paper and ink The book — a slim volume of archival material historical documents and commentary — was produced in close collaboration with Buffett himself It celebrates him and Munger’s six-decade partnership and the conglomerate they built I’m equally intrigued by the piece of paper that accompanied the book — a list of recommended reading from Berkshire The variety of topics covered on the reading list serves as a quiet reminder that the best investors are readers first compounds in ways that are hard to measure but impossible to discount It’s fitting that I came for a rare book but left with a blueprint to much more I expect it’ll pay dividends for years to come I’ve transcribed Buffett’s latest reading list below: A version of this post originally appeared on Phil Rosen’s newsletter The super early-rate deadline for the 2025 Inc. 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Apply now The daily digest for entrepreneurs and business leaders Learn More OMAHA, Neb.–Warren Buffett wants the United States to knock off its trade war "Trade should not be a weapon," the billionaire investor and Berkshire Hathaway CEO said on Saturday morning at his annual shareholder meeting in Omaha The United States "should be looking to trade with the rest of the world and they should do what they do best," Buffett told the crowd of thousands in a downtown arena Buffett did not mention President Trump, whose sweeping new tariffs have ignited a global trade war, roiled financial markets, and sounded wide-ranging alarms about a recession told NPR they were waiting for Buffett to speak out on the tariffs announcing that he would be stepping down as CEO at the end of the year He received a prolonged standing ovation from the audience in Omaha's CHI Health Center "The enthusiasm from that response can be interpreted in two ways," he quipped as he left the stage The Berkshire Hathaway CEO has been largely silent on trade this spring, as some of his peers have cautiously started criticizing the tariffs' impact on the global economy — and their businesses Buffett "has got to be frustrated by what's going on in Washington for no other reason than it has injected a degree of uncertainty into his business," says Cathy Seifert an analyst who covers Berkshire for CFRA Research Now many of the largest U.S. companies are cutting or withdrawing their financial forecasts for this year Berkshire added to the warnings on Saturday morning, as it reported a sharp drop in quarterly profit from a year earlier The company said it can't currently predict the tariffs' impact on its vast array of businesses and investments but "it is reasonably possible there could be adverse consequences." Buffett wields a tremendous amount of power on Wall Street and beyond He bought Berkshire Hathaway in 1965, when it was a struggling textile mill. Sixty years later, it's one of the largest companies in the world operating businesses ranging from insurance and railroads to Dairy Queen and Duracell batteries It's also a powerful investor in other companies "Because of its breadth and its depth … it really is sort of a microcosm for the broader economy," Seifert says The Omaha-born Buffett is famously folksy and tends to wrap himself in the American flag, regularly praising both his country and its systems "The luckiest day in the world is the day I was born I was born in the United States," he said on Saturday as a matter of national security for the U.S "The more prosperous the rest of the world becomes … the more prosperous we'll become and the safer we'll feel and your children will feel someday," he said Buffett spoke for more than four hours on Saturday in a decades-old tradition that's unlike any other investor meeting in corporate America But Berkshire and its CEO have turned its annual meeting into a party weekend in Omaha In person, the feeling is part fan convention, part quasi-religious revival, and part pop-up outlet mall. Buffett said that on Friday, almost 20,000 people visited the CHI Health Center's exhibit hall full of displays — and shops — devoted to Berkshire-owned brands Finance bros in vests crowded past young families with strollers foreign travelers taking selfies with gigantic Berkshire signs and retirees who told an NPR reporter they've owned Berkshire shares for decades "I told my kids: Do not sell it," said Lorenzo Alaan a retired physician who traveled to Omaha from The Villages "It's for your children and grandchildren." Become an NPR sponsor Supply chain expert Jack Buffington joins CNN Newsroom to discuss Warren Buffett’s criticism of Trump’s tariffs amid the famed investor's announcement that he would step down as CEO of Berkshire Hathaway at the end of the year International arrivals to the Middle East have surpassed pre-pandemic levels CNN's Becky Anderson is launching a new series "Intelligent Future," exploring how technology is revolutionizing our world today and reshaping the way we will live tomorrow founder of Early Medical and author of "Outlive" on what health and longevity mean in this day and age except for the S&P 500 which is refreshed every two minutes Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc Dow Jones: The Dow Jones branded indices are proprietary to and are calculated a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates Market holidays and trading hours provided by Copp Clark Limited '+n.escapeExpression("function"==typeof(o=null!=(o=r(e,"eyebrowText")||(null!=l?r(l,"eyebrowText"):l))?o:n.hooks.helperMissing)?o.call(null!=l?l:n.nullContext||{},{name:"eyebrowText",hash:{},data:t,loc:{start:{line:28,column:63},end:{line:28,column:78}}}):o)+" \n '+(null!=(o=c(e,"if").call(r,null!=l?c(l,"cta2PreText"):l,{name:"if",hash:{},fn:n.program(32,t,0),inverse:n.noop,data:t,loc:{start:{line:63,column:20},end:{line:63,column:61}}}))?o:"")+"\n"+(null!=(o=(c(e,"ifAll")||l&&c(l,"ifAll")||n.hooks.helperMissing).call(r,null!=l?c(l,"cta2Text"):l,null!=l?c(l,"cta2Link"):l,{name:"ifAll",hash:{},fn:n.program(34,t,0),inverse:n.noop,data:t,loc:{start:{line:64,column:20},end:{line:70,column:30}}}))?o:"")+" Warren Buffett said he would step down as Berkshire Hathaway's CEO after 55 years eliciting tributes from investors and business leaders acknowledging his career as the longest-serving chief executive of an S&P 500 company He said he intended to step down at the end of 2025 and recommended to the board of directors that Greg Abel Buffett has remained an enduring force as an investor and businessman since purchasing Berkshire Hathaway in 1965 and transforming it into a $1 trillion conglomerate that spans multiple industries business leaders from across the globe shared tributes Microsoft cofounder Bill Gates called Buffett "one of the greatest CEOs ever" and "hands-down the most successful investor of all time." "He has built an extraordinary company in Berkshire Hathaway But Warren hasn't been satisfied with setting an example as a businessman When he decided to give his wealth back to society His legacy will inspire generations to come," Gates said The Apple CEO praised Buffett in an X post on Saturday "There's never been someone like Warren," Cook wrote "It's been one of the great privileges of my life to know him And there's no question that Warren is leaving Berkshire in great hands with Greg." the chief executive of JPMorgan Chase and a fixture of Wall Street praised Buffett in a message after the investor's big announcement "Warren Buffett represents everything that is good about American capitalism and America itself — investing in the growth of our nation and its businesses with integrity "I've learned so much from him to this very day Bank of America Chair and CEO Brian Moynihan told Business Insider that Buffett "has achieved unparalleled success over a seven-decade-plus career." Bank of America was one of Berkshire Hathaway's largest holdings before it began to sell shares last year his unprecedented philanthropic giving continues to be an example to follow," Moynihan told BI over email "His life lessons delivered to young and old are as valuable as his business acumen I have personally learned so much from him and look forward to continuing to benefit from his insights He has been a tremendous supporter and investor in Bank of America and our nation's economy and the innovative spirit of the United States." the billionaire CEO of Pershing Square Capital Management said on Monday he "wouldn't bet against Berkshire." "I think they will be a little bit more aggressive about buying back stock I don't see Berkshire waking up in six months and Berkshire announcing $100 billion acquisition," Ackman told CNBC's "Squawk Box." The billionaire hedge fund manager said that Buffett's replacement "is a superb operator" who nonetheless may be cautious early on "I think the new CEO will be and the new board the current new CEO and the current board will be a little bit more careful on the first deals because if Berkshire's first deal turns out not to be a good one I think that the market will kind of frown upon that," Ackman said "But I think the business will do very well." Billionaire investor and PIMCO cofounder Bill Gross told Business Insider via email that Buffett's vision set him apart from other investors Gross also congratulated Buffett and recalled on X the first time his firm gave Berkshire one of its first loans in the mid '70s "I knew nothing about insurance and candy stores but was sold by his long-term vision of the economy and markets," Gross wrote "Congratulations my friend — not just on the numbers — but on the philanthropy and the years Having a cherry Coke with you was a highlight of my career." Cuban told Business Insider in an email that Buffett was his "investing hero" and shared a photo of him with the investing legend at a Dairy Queen in Omaha "We used to go to DQ in Omaha," Cuban wrote Cuban also reposted on X a video showing Buffett receiving a standing ovation during the annual Berkshire Hathaway meeting shared a video on X of Buffett receiving a standing ovation from the crowd at Berkshire Hathaway's annual meeting "Curtain call for the captain," Hakimian wrote told CNBC that Buffett has "lived a life full of surprises Very few of his decisions have been anything but sensational I am very anxious to see Warren become the Charlie Munger for Greg Abel." Olson also believed Abel "is ready" for the role We've known it for a long time," Olson told the outlet The Arkansas GOP congressman and former businessman told CNBC that Buffett and Berkshire Hathaway's board "have done a magnificent job over the last decade preparing shareholders for today." Hill added that he's admired Buffett since his college days "When I got out of government in 1993 and went back to the private sector in investment management it was Warren Buffett who was my role model — a man I've never personally met but I've admired all these years," Hill told the outlet The chairman and CEO of American Express told Business Insider via email that Buffett "has had one of the most storied careers in the history of American business." Squeri added that Buffett's "vision and deep sense of responsibility to shareholders is unmatched and his humility and humor are rare qualities in a leader that have made working with Warren a delight." in which Berkshire Hathaway holds a minority stake looks forward to "continuing to work with Greg as he builds upon Warren's legacy." The CEO of the Baupost Group hedge fund told BI over email that Buffett ran an "investment marathon" for decades and excelled in all conditions "But he is more than an investor — he is a visionary business leader and I suspect he'll keep contributing in all of these spheres far into the future The co-chairman of Oaktree Capital Management told BI in an email that it is "impossible" for anyone to measure up to Buffett "He is the single most influential investor of all time — the Isaac Newton of investing," Marks said "He says when he started in the early 1950s he was able to buy dollars for 50 cents — and he makes it sound easy," Marks added the host of the CNBC show "Mad Money," called Buffett "our only G.O.A.T." in an X post on Sunday "In awe of Buffett and congratulate him on the greatest run of all time," Cramer wrote BREAKING: Berkshire Shares Slide On News Of Buffett Exit is stepping down as CEO at year-end sent Berkshire Hathaway shares lower in early Monday stock market action The 94-year-old Buffett will be succeeded by Greg Abel Buffett said he would "still hang around and could conceivably be useful in a… Trade war perils are swirling around ocean shippers and the ports that serve them Get instant access to exclusive stock lists expert market analysis and powerful tools with 2 months of IBD Digital for only $20 Learn how you can make more money with IBD's investing tools Real-time quote and/or trade prices are not sourced from all markets Ownership data provided by LSEG and Estimate data provided by FactSet MarketSurge and other marks are trademarks owned by Investor's Business Daily (AP) — Billionaire Warren Buffett will remain chairman of the board at Berkshire Hathaway when vice chairman Greg Abel takes over for Buffett as CEO at the start of 2026 The board of directors at the cash-rich conglomerate voted Sunday to keep the legendary 94-year-old investor as head of the board a decision likely to relieve investors worried about maintaining Berkshire’s remarkable winning streak as U.S and global economies are beset by tariff shocks financial turmoil and a growing risk of recession The board in the same meeting also approved Buffett’s chosen successor as CEO Buffett said he would step down from that top spot at the end of the year Berkshire Class B shares fell 4% Monday morning after hitting an all-time high Friday praised the company’s transparency after Buffett announced the succession and does not believe Buffett is going anywhere “I think it gives Warren a little more bandwidth instead of running this conglomerate,” Sykes said in an interview with The Associated Press “It gives Greg more transparency on the opps with also Warren still being his mentor as chairman,” Buffett turned a Massachusetts textile company into a sprawling but nimble conglomerate that owns everything from Daily Queen and See’s Candies to BNSF Railway and massive insurance companies Warren’s reputation grew with it as shares of Berkshire Hathaway climbed steadily exceeding major indexes by wide margins and returning an average 19.9% each year to investors versus 10.4% for the Standard & Poor’s 500 The decision to continue with the Oracle of Omaha as head of the board differs from the succession plans laid out in the event of Buffett’s death The billionaire has long said that Howard Buffett the second-born of the investor’s three children should become chairman when he is gone to protect Berkshire’s culture Abel will take over in a precarious time as the U.S launches trade wars against friend and foe alike But Abel has managed all of Berkshire’s non-insurance businesses since 2018 Then there is Berkshire’s $348 billion in cash Buffett says he doesn’t see many bargains to invest that money in now but he assured some of the estimated 40,000 attendees of the company’s annual meeting in Omaha over the weekend that one day the company would be “bombarded with opportunities.” asking managers tough questions and encouraging them to collaborate with other subsidiaries when it makes sense He will now take on oversight of the insurance businesses and responsibility for investing the company’s cash will stay on for now to help manage the insurance businesses that include Geico and massive reinsurers like General Re READ MORE: Some of Warren Buffett’s best and worst investments in his 60 years at Berkshire Hathaway Abel said Saturday that he wouldn’t change the Berkshire’s approach to investing, which he learned from Buffett. Maintaining Berkshire’s fortress-like balance sheet will always be a priority, he said. Eventually, Berkshire might have to consider paying a dividend, which Buffett always resisted because he believed he could deliver better returns by reinvesting the cash. For now, Buffett and Abel want to keep building cash, so they are prepared when opportunities arise. Berkshire Vice Chairman Greg Abel speaks with shareholders during the Berkshire Hathaway Inc. annual shareholders’ meeting, in Omaha, Nebraska, U.S., May 2, 2025. Photo by Brendan McDermid/REUTERS Buffett endorsed Abel, vowing to keep all of his shares that give him control of 30% of Berkshire Hathaway. “It’s way better with Greg than with me because I didn’t want to work as hard as he works and I can get away with it because we’ve got a basically good business — a very good business,”” Buffett said. He also said Abel brings new strengths to the company. “The fact that you can do pretty well doesn’t mean you couldn’t do better, and Greg can do better at many things,” he said. The CEOs of Berkshire subsidiaries who report to Abel have praised his management style of personal accountability, but also autonomy. See’s Candy CEO Pat Egan worked with Abel at Berkshire’s utility unit for years before he took over six years ago and said Abel makes sure he’s considered every contingency. “He’s allowed me to make a lot of decisions that he may or may not have agreed with, but he’ll support us at the end of the day, no matter what as long as we’re operating with integrity and principles and the long game,” Egan said. But Morningstar analyst Greggory Warren wrote that Buffett’s succession announcement left him with plenty of questions and Abel will have to prove himself. “Abel, in our view, will be held to a different standard than Buffett, with a greater focus on how well Berkshire is performing—especially with it being likely that there will be some churn in the company’s shareholders as we move past the end of an era for the firm,” Warren said. Buffett has always delegated the decisions about how to distribute his fortune, worth nearly $170 billion, to others through annual share donations to the Gates Foundation and four family foundations run by his children. The Gates Foundation has received the biggest donations worth more than $40 billion since he started giving away his fortune in 2006. He said last summer that his three children will decide how to distribute his remaining fortune after his death, but donations to the Gates Foundation will end. Buffett has said he expects it to take a decade to give away all his shares after his death, ensuring extended support for Abel from the family. AP Business writer Bernard Condon is in New York City. AP Business Writer Michelle Chapman contributed to this report from New York City. Thank you. Please check your inbox to confirm. © 1996 - 2025 NewsHour Productions LLC. All Rights Reserved. PBS is a 501(c)(3) not-for-profit organization. Subscribe to Here's the Deal with Lisa Desjardins 1);}}@media screen and (prefers-reduced-motion: reduce){.css-wjxay9-SquareButton{transition-property:background-color;transition-duration:0ms;transition-timing-function:cubic-bezier(0 1);}}@media screen and (prefers-reduced-motion: reduce){.css-152q15n-SquareButton{transition-property:background-color;transition-duration:0ms;transition-timing-function:cubic-bezier(0 1);}}.css-x340e0-SquareButton{margin:0;padding:0;display:inline-grid;-webkit-column-gap:8px;column-gap:8px;grid-template-columns:repeat(3 1);}}@media screen and (prefers-reduced-motion: reduce){.css-x340e0-SquareButton{transition-property:background-color;transition-duration:0ms;transition-timing-function:cubic-bezier(0 1);}}.css-v6oqvx{margin:0;font-family:Lato,Helvetica,Arial,sans-serif;font-size:12px;line-height:20px;font-weight:700;letter-spacing:0px;font-style:normal;text-transform:none;font-stretch:normal;padding:0.5px 0px;}.css-v6oqvx::before{content:'';margin-bottom:-0.4973em;display:block;}.css-v6oqvx::after{content:'';margin-top:-0.4463em;display:block;}Listen “I don’t get fearful of things that other people are afraid of,” he said a reflective Warren Buffett gave some timely investment advice for investors “but you’ve got to check them at the door when you invest.” talked to a young man who asked about overcoming setbacks “I would focus on the things that have been good in your life rather than the bad things that happen because bad things do happen,” Buffett said “It can often be a wonderful life even with some bad breaks.” That kind of optimism and perspective punctuates his answers: He constantly invokes broader historical perspective Buffett is the master of get-rich-slow schemes Buffett is the master of emotionally detached Buffett said his investment decisions often depend on the market interest rates .css-i6hrxa-Italic{font-style:italic;}and psychology “We will make our best deals when people are the most pessimistic,” he said things got much more attractive over the next two years and apparently I didn’t do anything about it.” “That was the opportunity of a lifetime and I blew it by worrying about the kid in the next crib or something,” he said I’m fearful of all kinds of things … but I don’t get fearful of things that other people are afraid of.” He has a 360-degree view on time and space, enough to talk about living through the aftermath of the 1929 stock-market crash from his baby carriage. The market lost 79% of its value then, and took more than two decades to fully recover The market experienced a lost decade after the subprime crash of 2008 The latest tumble and recovery took a month; he described it as “really nothing.” emotional detachment and remarkably upbeat outlook hold true even for the price fluctuations of his own company’s stock “If Berkshire went down 50% next week I would regard that as a fantastic opportunity and it wouldn’t bother me in the least they just react differently,” Buffett added but I don’t have emotions about the prices of stocks.” .css-11kxzt3-Strong{font-weight:var(--font-weight-medium);}Don’t miss: Trump’s trade war has rattled investors — uncertainty is a call to action “Emotional biases often lead investors astray affecting their stock selection and trading These biases can result in suboptimal decisions hindering portfolio performance,” the researchers wrote diversifying portfolios and seeking professional advice can help to enhance investment success.” The challenge is to be mindful of that advice when the going gets tough those psychological failings can include herd mentality making hasty decisions to buy/sell based on what everyone else is doing; overconfidence bias assuming the good times — an era of low interest rates or rising house prices — will never end despite what data and anecdotal evidence might be telling you; and loss aversion being too conservative for fear of losing your investments The myriad of mental traps that panicked investors fall into may have been what Buffett was referring to when he talked about how “psychology” plays a role in his company’s earning power by informing his investment decisions Like a poker player or an alien viewing human behavior from afar he sees the psychology of the market like any other opportunity to make smart informed choices that will benefit his shareholders Like an alien viewing human behavior from afar Buffett sees the psychology of the market as an opportunity The other unsung heroes of any retail investor’s ability to build wealth over time and look forward to a comfortable retirement with peace of mind (yes that’s what patience and compounding gets you) are the support systems you have around you Buffett talked about that too during his four-and-a-half hour question-and-answer session in Omaha Your upbringing and your choice in friends will impact your financial future. Add to that your choice of life partner. “Who you associate with is just enormously important,” he said “and don’t expect you’ll make every decision right on that You’re going to have your life progress in the general direction of the people that you work with and curate your circle to include people with qualities like kindness All of these qualities are good in life and good in finance “There are people that make you want to be better than you are,” Buffett said “and you want to hang out with people that are better than you are and that you feel are better than you.” But we are all ultimately responsible for our own lives and you can live through all of the above and still come out a winner The decisions we make, whether or not we keep our heads about us Related: Buffett passes the torch — here’s what Berkshire loyalists should know, from a longtime insider If you read April’s jobs report, you won’t be surprised by the No. 1 ‘best job’ in America ‘I have an out-of-state adviser in a Republican state’: How can I tell if his political views influence his investment advice? America’s job market is eerily similar to the 1990s dot-com bubble — and, yes, it’s a worry But it was a seismic financial shift of the world: After 60 years Warren Buffett will step down as CEO of Berkshire Hathaway at the end of 2025 He made the announcement in stunning fashion: in the last few moments of the annual Berkshire Hathaway shareholder meeting Reporters had already sent out their “big scoop” from the meeting: Buffett’s criticism of President Trump’s tariffs It was only after he’d finished answering hours of questions—part of the grand tradition of the Berkshire Hathaway annual meeting—that he dropped the real news on them On Saturday there was an earthquake in Omaha He made the announcement in stunning fashion: in the last few moments of the annual Berkshire Hathaway shareholder meeting Reporters had already sent out their \u201Cbig scoop\u201D from the meeting: Buffett\u2019s criticism of President Trump\u2019s tariffs It was only after he\u2019d finished answering hours of questions\u2014part of the grand tradition of the Berkshire Hathaway annual meeting\u2014that he dropped the real news on them Warren Buffett has a warning about a corner of the stock market that's long been seen as a haven for cautious investors: utilities Electric utility companies have long been viewed as a defensive sector by investors because they provide essential services that people continue to use regardless of economic conditions making their revenues relatively stable even during downturns But speaking at Berkshire Hathaway's annual shareholder meeting over the weekend Buffett said that the electric utility sector wasn't as reliable as it used to be and that investors needed to adjust their expectations going forward Buffett said the growing risk of wildfires was the core reason investors needed to be cautious on utilities "The public utility business is not as good a business as it was a couple of years ago," Buffett said they can look at Hawaiian Electric and look at Edison in the current wildfires situation in California." Shares have yet to recover any of the losses California's PG&E has also paid out billions of dollars after its equipment was found responsible for starting several wildfires between 2017 and 2021 and its stock price crashed as much as 95% shares of California-based Edison International plunged as much as 37% over fears that it could be held liable for the Palisades fire in Los Angeles at the beginning of 2025 Buffett added that Berkshire Hathaway wasn't immune to those risks highlighting that the conglomerate's Berkshire Energy utility business was declining in value "Berkshire Hathaway Energy is worth considerably less money than it was two years ago based on societal factors," Buffett said Incoming Berkshire Hathaway CEO Greg Abel who oversees the conglomerate's energy operations echoed the warning and highlighted the persistent risks the industry was facing "But every day our teams across utilities are working hard to reduce that risk recognizing the fundamental risk of the wildfires is not going away." Berkshire Hathaway Energy's PacifiCorp utility business has faced the wildfire risk head-on after the 2020 Labor Day wildfires in Oregon The company has already paid out more than $1 billion in settlements and faces claims in the tens of billions of dollars That's not sustainable for a utility business that typically has a low rate of return "We can't just become the insurer of last resort that's going to cover any cost and all costs irrespective of what occurred," Abel said "That's a little bit of the situation we're in right now." CNBC via YouTube. “LIVE: Warren Buffett presides over the 2025 Berkshire Hathaway annual shareholder meeting — 5/3/25." Today: The strange politics of Harvey Weinstein’s retrial; Harvard is spraying perfume on a sewer, says Rabbi David Wolpe; another study finds weak evidence to support “gender-affirming care”; 60 Minutes gets an Emmy nod for its controversial Kamala interview; and more. Whenever I’ve attended a Berkshire Hathaway annual meeting or read the letter to shareholders its CEO and chairman Warren Buffett writes every year, I’ve always been struck by how sensible he sounds. On the stage of the Omaha arena where the annual meeting is held, he and his partner Charlie Munger (who died in 2023 at the age of 99) crack plenty of jokes, but they also offer the kind of practical investing advice you’d think everyone would follow. Buy undervalued companies. Focus on long-term growth, not short-term stock fluctuations. (“Our favorite holding period is forever,” he likes to say.) Be patient and disciplined. You get the idea. At Saturday’s annual meeting, the 94-year-old Buffett dropped a bombshell, announcing that he will step down as CEO at the end of the year. Maxwell Meyer reports on the announcement in his story for The Free Press today, and offers a smart appreciation of what Buffett has wrought during the 60 years he transformed Berkshire Hathaway from a declining Massachusetts textile business into one of the greatest conglomerates—and greatest investment vehicles—the world has ever seen. What’s always struck me about American investors is how few of us follow that sensible advice Buffett doles out, even though it has made him a billionaire many times over. Are we patient? No. Disciplined? No. Do we focus on the long term? Hell no—we’re always chasing hot stocks. Buffett, bless him, has been telling us how to do it right for 60 years. Maybe it’s time we finally listen. Read Maxwell’s story and you’ll see what I mean. On Saturday there was an earthquake in Omaha. Okay, not really. But it was a seismic financial shift of the world: After 60 years, Warren Buffett will step down as CEO of Berkshire Hathaway at the end of 2025. we will strike them sevenfold,” said Israeli defense minister Israel Katz after the attack “I’ll be an eight-year president,” said Donald Trump when asked about the idea he might try to extend his stay in the White House beyond the legal limit I always thought that was very important,” he added In the same interview, Trump indicated his willingness to lower tariffs on goods from China and they want to do business very much,” he said Trump has placed 145 percent tariffs on Chinese imports A company that makes a Signal clone widely used by U.S. government officials has been hacked, according to 404 Media Stolen information from the company includes customers’ messages though no cabinet members’ messages are believed to have been taken Pakistan test-fired a ballistic missile Saturday saying it was to ensure the “operational readiness” of its troops It is the latest move in the standoff between nuclear neighbors India and Pakistan since last month’s militant attack that killed 26 tourists in the Indian region of Kashmir Driverless trucks have arrived on U.S. roads. Self-driving transportation start-up Aurora just launched the country’s first commercial autonomous truck route, hauling freight between Dallas and Houston without a human driver on board. ReplyShare141 more comments...No posts It\u2019s Monday, May 5. This is The Front Page, your daily window into the world of The Free Press\u2014and our take on the world at large. Today: The strange politics of Harvey Weinstein\u2019s retrial; Harvard is spraying perfume on a sewer, says Rabbi David Wolpe; another study finds weak evidence to support \u201Cgender-affirming care\u201D; 60 Minutes gets an Emmy nod for its controversial Kamala interview; and more. But first: Warren Buffett\u2019s amazing run. Whenever I\u2019ve attended a Berkshire Hathaway annual meeting or read the letter to shareholders its CEO and chairman Warren Buffett writes every year, I\u2019ve always been struck by how sensible he sounds. On the stage of the Omaha arena where the annual meeting is held, he and his partner Charlie Munger (who died in 2023 at the age of 99) crack plenty of jokes, but they also offer the kind of practical investing advice you\u2019d think everyone would follow. Buy undervalued companies. Focus on long-term growth, not short-term stock fluctuations. (\u201COur favorite holding period is forever,\u201D he likes to say.) Be patient and disciplined. You get the idea. At Saturday\u2019s annual meeting, the 94-year-old Buffett dropped a bombshell, announcing that he will step down as CEO at the end of the year. Maxwell Meyer reports on the announcement in his story for The Free Press today, and offers a smart appreciation of what Buffett has wrought during the 60 years he transformed Berkshire Hathaway from a declining Massachusetts textile business into one of the greatest conglomerates\u2014and greatest investment vehicles\u2014the world has ever seen. What\u2019s always struck me about American investors is how few of us follow that sensible advice Buffett doles out, even though it has made him a billionaire many times over. Are we patient? No. Disciplined? No. Do we focus on the long term? Hell no\u2014we\u2019re always chasing hot stocks. Buffett, bless him, has been telling us how to do it right for 60 years. Maybe it\u2019s time we finally listen. Read Maxwell\u2019s story and you\u2019ll see what I mean. we will strike them sevenfold,\u201D said Israeli defense minister Israel Katz after the attack \u201CI\u2019ll be an eight-year president,\u201D said Donald Trump when asked about the idea he might try to extend his stay in the White House beyond the legal limit I always thought that was very important,\u201D he added In the same interview, Trump indicated his willingness to lower tariffs on goods from China and they want to do business very much,\u201D he said A company that makes a Signal clone widely used by U.S. government officials has been hacked, according to 404 Media Stolen information from the company includes customers\u2019 messages though no cabinet members\u2019 messages are believed to have been taken Pakistan test-fired a ballistic missile Saturday saying it was to ensure the \u201Coperational readiness\u201D of its troops It is the latest move in the standoff between nuclear neighbors India and Pakistan since last month\u2019s militant attack that killed 26 tourists in the Indian region of Kashmir Driverless trucks have arrived on U.S. roads. Self-driving transportation start-up Aurora just launched the country\u2019s first commercial autonomous truck route, hauling freight between Dallas and Houston without a human driver on board. NEW YORK – It seemed appropriate that Gerrit Cole was on hand to observe Sunday’s action from the dugout at Yankee Stadium marking one of the ace’s first in-uniform appearances since Opening Day the ripple effect of the Yankees’ pitching losses are noticeable at the back of the rotation was knocked for five runs (three earned) in 4 2/3 innings as the Yankees fell to the Rays, 7-5 dropping their second consecutive series – both to American League East rivals following a pair of losses in Baltimore earlier this week The Yankees are a perfect 7-0 in Fried’s outings Cody Bellinger connected for his 200th career homer while Jorbit Vivas collected his first Major League hit -- a two-run single -- in a three-run eighth we battle with the best of them,” Aaron Judge said we’ve got faith in everybody in this lineup We were able to rally there the last couple of innings The hole was ultimately too much to dig out from The 25-year-old Warren showed off his swing-and-miss arsenal by striking out a career-high eight accompanied by the uneven results that have produced a 5.65 ERA through seven starts Jonathan Aranda hit a third-inning homer as part of a three-RBI performance and Brandon Lowe stroked a two-run single to highlight the attack against Warren who scattered seven hits and walked three in a 102-pitch effort (62 strikes) Manager Aaron Boone said Warren was “singled to death,” and he wasn’t alone -- in all “I feel like the whole day was a little up and down,” Warren said They were taking advantage of every little thing we gave them.” The Yanks’ pitching depth has been impacted not only by Cole’s season-ending injury but subsequent losses of Luis Gil and Marcus Stroman the Bombers unexpectedly opened the season with both Warren and Carlos Carrasco in the rotation The 38-year-old Carrasco tossed three innings in relief Sunday, displaced from the rotation when Clarke Schmidt was shifted to pitch Tuesday against the Padres Milestone momentsBellinger’s blast off Taj Bradley made him the 30th player to collect his 200th home run as a Yankee, and the first since Juan Soto last Sept. 17 at Seattle “I think that is definitely pretty cool,” said Bellinger Bellinger said he swapped a selection of autographed items for the baseball which he plans to add to his personal collection and hopefully keep hitting some more,” Bellinger said Sign up to receive our daily Morning Lineup to stay in the know about the latest trending topics around Major League Baseball Meanwhile, Vivas notched his first hit in his fifth Major League at-bat, a clean knock to center field off Edwin Uceta. Vivas is expected to receive significant playing time at second base with Jazz Chisholm Jr. (right oblique) on the injured list Judge said Vivas has shown “electric at-bats” thus far I feel like he’s trying to take it out to the bleachers,” Judge said He can hit it to the opposite field with the best of them decisionsThe Yankees closed the deficit in the eighth Judge ripped a leadoff double off Mason Englert extending his hitting streak to 14 games and his on-base streak to 30 games and Bellinger walked ahead of Paul Goldschmidt’s run-scoring single Jasson Domínguez greeted Edwin Uceta with a single off the right-field wall Boone explained that he was deciding between using Ben Rice to pinch-hit for Escarra or Vivas deciding to allow Escarra to hit because: “I’m just going to take the guy that’s been here and [is] more experienced.” Escarra’s double play dropped the Yanks’ win expectancy from 24.3 percent to 5.7 percent Boone said Vivas batted because he no longer represented the tying run Vivas’ two-run single changed the equation and Rice then worked a walk in place of Oswaldo Cabrera before Oswald Peraza hit into an inning-ending fielder’s choice With shortstop Anthony Volpe (left shoulder) unavailable Boone said he did not want to use both Rice and Austin Wells as pinch-hitters Wells entered to catch the ninth inning anyway with Escarra making his first Major League appearance at third base “They held us down pretty well this series,” Boone said “I liked the way we battled today to work our way back in a tough series where they were able to hold us down enough.” "be fearful when others are greedy and greedy when others are fearful," inspired 26-year-old Natalie Fisher to start investing in the stock market in 2020 Fisher's story isn't unique. The Oracle of Omaha has been a role model for countless investors throughout his career with fans regarding him as a father figure Berkshire's Class A stock has returned over 5,500,000% over six decades against the S&P 500's 39,000% increase over the same period "He was obviously a legend in our lifetimes," Andrew Crowell the vice chairman of wealth management at DA Davidson From market experts to everyday people, Buffett's legacy has touched generations of investors Here are five takeaways from Buffett's career that you can use in your own investing journey One of the key pillars to Buffett's success is thinking like a long-term business owner It's hard to conceptualize when you're transacting on Robinhood you're becoming a stakeholder — someone who owns a piece of a real business You're actually a partial owner in a business," Crowell said "If a friend of yours asked you to invest $5,000 in their business you would think about it as well: Who is this friend That means investors should dig into how a company actually makes its money Buffett and his business partner Charlie Munger popularized the term "circle of competence," a mental framework that encourages investors to invest in businesses or industries that they understand It is OK if you're circle is small — what's more important is understanding how the businesses within it operate Buffett famously avoided tech stocks for most of his career saying that he didn't understand the industry well enough to value them It wasn't until 2016 that Buffett bought into Apple which has since grown to be Berkshire's largest holding Buffett invested in Apple because he viewed it as a durable consumer brand with a high customer retention rate but I do understand consumer behavior," Buffett said at Berkshire Hathaway's annual shareholder meeting in 2023 Thinking about investing in bitcoin because it's all over the news Hopping on the AI trend even though you have no idea how the technology works It's tempting to hop aboard popular trades but Buffett's track record shows that it does pay off to be fearful when everyone else is being greedy that's probably not the right time to jump in You're probably overpaying for something," Crowell said buying preferred shares that paid a 10% annual dividend The bank redeemed Berkshire's shares in March 2011 but not before paying $1.2 billion in dividends You don't have to keep every dollar invested in the stock market at any given moment there aren't many enticing buying opportunities Berkshire sold a net $1.5 billion of stocks last quarter growing its cash pile to a record $348 billion Valuations in the stock market are high right now and Buffett doesn't see many exciting opportunities to deploy capital Buffett built up a stash of dry powder in cash you can take advantage of the fear," Crowell said Buffett didn't get rich overnight — in fact and compound interest are all critical components to Buffett's success Take Buffett's investment in Coca-Cola Buffett purchased $1.3 billion of shares in the company All Charlie and I were required to do was cash Coke's dividend checks," Buffett wrote in Berkshire Hathaway's 2022 annual report Berkshire Hathaway's stake in Coca-Cola is currently valued at over $28 billion It's also about building up healthy financial habits such as avoiding high-interest debt on credit cards and investing regularly and early on The 94-year-old billionaire made the surprise announcement near the end of the company's annual meeting May 3, with vice chairman Greg Abel now set to take over as top executive at the end of the year the company's vice chairman of insurance operations while responding to questions in front of a huge crowd of shareholders Here are some of the things they talked about In an interview with CBS that aired in March, Buffett described tariffs as “an act of war.” they're a tax on goods," Buffett said at the time The ongoing reaction to President Donald Trump's on-again, off-again tariffs has fueled uncertainty and rattled the stock market and consumer confidence Buffett hasn't changed his mind on the subject "There's no question that trade can be an act of war and I think it's led to bad things, just the attitudes it's brought out in the United States," Buffett said during the meeting's question-and-answer session we should be looking to trade with the rest of the world and we should do what we do best and they should do what they do best." Buffett also emphasized that the "more prosperous the rest of the world becomes "We want a prosperous world," Buffett said "With eight countries with nuclear weapons including a few that are what I would call quite unstable I do not think it's a great idea to try and design a world where a few countries say we've won,' and other countries are envious." Buffett says US is 'always in the process of change' The U.S experienced "significant and revolutionary change," Buffett said in response to a question asking whether investors are too pessimistic about the U.S "We're always in the process of change," Buffett said "We'll always find all kinds of things to criticize in the country but the luckiest day in my life was the day I was born because I was born in the United States." He isn't discouraged by the fact that the country hasn't "solved every problem that's come along," he said I would just keep negotiating in the womb until they said you can be in the United States," he said Buffett brushes off recent stock market volitilityBuffett said he doesn't consider the stock market's recent volatility to be a "huge move," saying instead that it has not been "a dramatic bear market or anything of the sort." "If it makes a difference to you whether your stocks are down 15% or not you need to get a somewhat different investment philosophy," he said There will inevitably be ups and downs in the market and it will ultimately be up to investors to adapt "That's part of the stock market," he said "That's what makes it a good place to focus your efforts if you've got the proper temperament for it." it's not a good place to be if you're excited when markets are up and frightened when they're down but you've got to check them at the door when you invest," he said Buffett – before his surprise announcement – was asked what it was about Abel that made him the preferred successor "It's almost like finding the right person in marriage," he said "Some of you may have married the person you met on your first date … but sometimes it pays to wait Buffett also described his appreciation and enthusiasm for the people at Berkshire Hathaway "If you find people that are wonderful to work with Abel, a 62-year-old who was born in Canada but now lives in Des Moines, Iowa said he was "humbled and honored" by his role with Berkshire Hathaway "When you find something like Berkshire that's so special you fall in love with it and it becomes just what you want to do every day," he said 05-05-2025NEWS Buffett’s longtime business partner Charlie Munger once called Abel a ‘tremendous learning machine’ who was arguably ‘just as good as Warren.’ Greg Abel [Photo: Daniel Acker/Bloomberg via Getty Images] BY Chris Morris Warren Buffett’s announcement Saturday that he would be retiring as CEO of Berkshire Hathaway came as a surprise to lots of people including the person who was elected to succeed him the next day Greg Abel has been Buffett’s right-hand man for many years and the public heir apparent for the past five said he hadn’t told Abel the moment was coming held by Buffett and institutional shareholders is up 42,413% since they began trading in 1985 Abel is fairly well known to people who closely follow Berkshire Hathaway but he’s less familiar to people who only know Buffett Here’s a look at the man who will try to fill Warren Buffett’s shoes Abel, 62, currently serves as vice chair of non-insurance operations at Berkshire. He’s also the chair of Berkshire Hathaway Energy which Buffett called one of the company’s four “jewels” in his 2021 shareholder letter (The other three are Berkshire’s property and casualty insurance businesses He has been the designated successor to Buffett for at least four years and has joined Buffett onstage at the company’s investor meeting for the past several years, even before Munger’s death in November 2023 Abel is a huge hockey fan and serves as assistant volunteer coach for his son’s team in his hometown of Des Moines He’s said to have a quick wit and nurtures strong personal relationships “He’s not loud or bombastic, but he’s 500% friendly,” Mark Oman, a retired Wells Fargo executive and friend of Abel’s told Fortune Abel started his career at the PricewaterhouseCoopers consulting firm in Canada eventually moving to the San Francisco office which six years later would acquire Des Moines-based MidAmerican Energy Holdings (which would eventually be renamed Berkshire Hathaway Energy) Abel’s performance with Berkshire Hathaway Energy caught the eye of senior Berkshire executives he transformed that company into a major player in the power industry with earnings of $5 billion in the first quarter of 2025 Buffett told CNBC that Abel “does all the work as the spiritual successor to the plain-spoken ensuring the culture at Berkshire Hathaway doesn’t change when asked Saturday to compare his approach in dealing with Berkshire’s subsidiaries to Buffett’s Buffett jokingly offered a more succinct answer: “Better.” He added “You really need someone that behaves well on top and is not playing games for their own benefit.” Munger, in 2023, told CNBC that Abel was “a tremendous learning machine” and one could “argue that he’s just as good as Warren in learning all kinds of things.” Abel’s not expected to pick the companies that go into the Berkshire portfolio That will be handled by Todd Combs and Ted Weschler The final deadline for Fast Company’s Brands That Matter Awards is Friday, May 30, at 11:59 p.m. PT. Apply today. Fast Company & Inc © 2025 Mansueto Ventures Fastcompany.com adheres to NewsGuard’s nine standards of credibility and transparency. Learn More This story was originally published in 2017 Warren Buffett is one of the most successful investors in history He also has a really weird diet and limited vegetables has reached legendary status I decided to take on Buffett's strange food tastes for one workweek to see what it was like There were some basic ground rules — eat three meals a day I just tried to maintain the general attitude by which the man himself defines his diet and the lowest death rate is among 6-year-olds so I decided to eat like a 6-year-old," Buffett told Fortune here's a look at what it's like to eat like the man himself Buffett told Fortune he was "one-quarter Coca-Cola." Buffett said he favored either Diet Coke or Cherry Coke and had at least five cans of the soda a day I also couldn't purchase cans of the stuff at my local grocery store but a two-liter works out to 5.6 cans a day within the ballpark of Buffett's consumption I decided to go with one of these each day That's right — I got 84% of my recommended daily carbohydrate intake from just the sugar in the Cherry Coke I didn't initially do the math on the sugar content of the Cherry Coke believing it was better to go into the week with a bit of blissful ignorance While I had assumed it would be rough consuming all of the syrupy-sweet drink I couldn't anticipate the full devastation the Coke would have on my mood In the HBO documentary "Becoming Warren Buffett," the legendary investor said his breakfast each day came from McDonald's and was dictated by the stock market Buffett gets breakfast once the market is open he opts for a cheaper breakfast of two sausage patties which means I had to base my McDonald's selection on the premarket futures I decided to try to factor in a bit of qualitative analysis based on the overseas markets and the previous day's close (and The first breakfast wasn't too challenging I decided to front-load the Cherry Coke to get the caffeine I usually got from my coffee while also preventing myself from drinking soda well into the night I'd decided to keep track of my weight each morning and night the Cherry Coke totals are added to the count at dinner since they were dispersed throughout the day I don't drink much soda — I drink mostly water and coffee at work — so the sudden increase in the amount of corn syrup in my diet made me feel incredibly sluggish the sugar high was so off the charts that I almost felt the tingle of the carbonation in my fingers as I was typing I also put down half of the two-liter before 11 a.m but not like an angel food cake — like an actual kitchen sponge Buffett says he typically gets cherry syrup on his DQ sundaes which was not an option at my Manhattan location I did get his preferred chopped nuts on top I was feeling pretty weighed down at this point I don't have a big lunch most days — a salad at most — so the extra calories and copious sugar made me feel bloated Day 1: Dairy Queen chili-cheese dog; strawberry sundae with chopped nuts; Cherry Coke possibly because I finished the Coke around 2 p.m I typically try to run four to five miles a day after work I imagined keeling over and puking into the East River Dinner was heavy — I couldn't finish the whole serving — but at the end of Day 1 I lost sleep on Sunday night worrying about the challenge ahead but after feeling decent at the end of the day so I decided it would be fair to get a bacon I preferred this option over the semi-soggy McMuffin from the day before and I felt confident as I tucked into breakfast and the second giant bottle of Cherry Coke many of my coworkers said I cheated by going with Shake Shack instead of some local restaurant Another signature Buffett trait is an excess of salt "When the food comes, Warren grabs a salt shaker in his left hand and one in his right, and it's a snowstorm," Stumpf told Bloomberg in 2014 So I threw a little extra sodium on the french fries before dipping them in the chocolate shake Day 2: Shake Shack ShackBurger; french fries; chocolate milkshake; Cherry Coke I was more than two-thirds of the way done with the two-liter but the heavy meal — especially the milkshake — was crushing my will to live The sugar from the Coke (roughly a half-pound a day) was causing surges and drop-offs in energy The increase in meat consumption was making me sweat more than usual (weirdly enough I texted a coworker expressing my dismay at my physical state I was going noticeably slower than I had the day before Upon getting back to my apartment from the run My roommate walked in as I was sitting on our couch and asked me whether I was sure I wanted to keep going unable to muster the strength to figure out a proper meal I just made two hot dogs and ate some Utz chips — another brand Buffett loves I went to bed Tuesday night feeling much less enthused about the prospects for the rest of the week Day 2: Two Hebrew National kosher hot dogs; Utz kettle chips; See's Candies peanut brittle Buffett must be getting sick of these biscuits by now I decided to try to space out the Cokes more evenly to avoid the crashes I ordered an open-faced turkey sandwich with bacon and Thousand Island dressing from Eisenberg's sliced turkey sandwich with bacon and Thousand Island dressing The meal was finished off with fries and some Cherry Coke did you put extra salt on the fries like you said Buffett always does?" Lunch, Day 3: Turkey sandwich with bacon and Thousand Island dressing from Eisenberg's Sandwich Shop; french fries; Cherry Coke I walked home on Wednesday and then went for a run and grease leaked from my belly to my legs Children were passing me on the street during my walk home Imagine having maple syrup in your joints and muscles — that's what I felt like Dinner, Day 3: Veal parmigiana from Nonna's LES Pizzeria; water I'm still not sure whether the single patty was a good thing or a bad thing but it did give me a break from heavy meals It also made me realize that McDonald's sausage is not very good by itself Day 4: McDonald's sausage patty; Cherry Coke I'm no stranger to massive dietary changes — I gained 80 pounds in college and then lost 45 pounds in three to four months after I graduated (I overestimated my pay as an intern and underestimated NYC rents.) That is to say: I've done some terrible things to my body via my diet before The weird thing though was that I was still hungry at every meal Maybe it was the chemicals from the processed food Fun fact: Buffett once used coupons to buy Bill Gates' lunch at McDonald's another reason this was such a terrible idea: I cover policy here at Business Insider I decided to try the Buffett diet on the week that Republicans again attempted to repeal Obamacare (no the irony did not escape me) and rolled out their most detailed tax-reform framework yet This meant that amid my midafternoon sugar crash I was typically forced to pull myself out of the fog and write something of substance I did write a considerable amount over the five days You'd have to ask my editor whether my diet hurt the quality of my writing Day 4: McDonald's Quarter Pounder with cheese; french fries; Cherry Coke I really like country-fried steak (see my previous comment about being from the South) This one was from Cowgirl in the West Village actual collard greens at a restaurant in the North I went with a coworker and couldn't finish the steak and mashed potatoes — not to worry prompting her to call me "weak." I replied I would take the leftovers home and finish them later (we were eating fairly early) but I happened to "forget" the bag as I left I was happy that here was only one day left Dinner, Day 4: Country-fried steak with mashed potatoes, gravy, and collard greens from Cowgirl; water Remember what I said about getting used to it That's really all I have to say about this meal Day 5: Ben and Jerry's Phish Food ice cream; Cherry Coke Buffett owns Dairy Queen and holds considerable stock in McDonald's and Coca-Cola I realized I probably made the guy a lot of money that week The thought struck me mid-bite of an M&Ms Blizzard: I was a sucker Buffett is a self-mythologizer — a folk hero who presents himself as a kind grandfather but has made it in the vicious investment world He's a ball of contradictions and social oddities I couldn't put it past him to deceive the few interviewers he trusts to cast the glow of the cult of Buffett surely people see him at these restaurants He wouldn't lie about his diet just to get a few suckers to boost his sales Day 5: Dairy Queen chili-cheese dog; french fries; M&M Blizzard; Cherry Coke the sugar-and-caffeine crash had become easier I had learned how to manage the timing and frequency of my Coke intake to ensure a solid energy reserve all day But I still felt awful after I finished a bottle Here's some fun math on the amount of Cherry Coke I consumed in the week: Buffett comes here once a year for a dinner at which a lucky bidder joins the Oracle of Omaha himself I was joined by four of my coworkers to bask in the final meal of my epic run I contacted the restaurant earlier in the week to say what we would be there for and the staffers did everything to make my experience as authentic as possible We sat in the private alcove where Buffett sits when he visits with a full glass wall looking into the kitchen There was a plaque with Buffett's name on it and a letter from him framed on the wall We started with something off-menu called the "seafood bouquet." It featured lobster The seafood was divine — though it was chilled I began to feel a bit uneasy as I dined on the appetizer thinking back to everything I had put down that week I wanted to have an authentic meal at a favorite location of Buffett's I must admit here that I broke the Buffett rules by having a bit of wine In what can only be compared to the primitive tomahawk of a caveman the mighty Colorado rib-eye emerged on a plate still sizzling and I laid all of the terrible meals of the last week to the side ignoring the inevitable food hangover that was surely coming The rib-eye was cooked to perfection and cut beautifully and it contained just the right amount of fat When I hit the wall — and I hit it hard — there was an overriding sense of disappointment that I simply couldn't finish the meal I was struggling to form coherent thoughts as all the blood ran from my brain to my stomach My coworkers and I ambled toward Grand Central Terminal and wandering off from the rest of the group I huffed and puffed my way back to my apartment near Chinatown I collapsed on the floor of my living room trying to pretend my stomach wasn't bursting at the seams Dinner, Day 5: Seafood bouquet, 32-ounce Colorado rib-eye steak, hash browns, creamed spinach, and coconut cake from Smith & Wollensky; red wine; water Let's get this out of the way: Don't eat like Warren Buffett unless you are Warren Buffett The man himself says to be yourself instead of copying him This applies not only to investing but also to dieting and I realized why I committed myself to eating healthy when I moved to New York Being sluggish and moody during the day just isn't fun It's also a good lesson in recognizing limits Buffett apparently has none; I very much do I now understand Buffett's investing strategy perfectly I just have a few extra pounds to work off and a good story Monday morning to Saturday morning: 2.4 pounds Monday evening to Friday evening: 4 pounds EXPERT OPINION BY CARMINE GALLO, HARVARD INSTRUCTOR, KEYNOTE SPEAKER, AUTHOR, ‘THE BEZOS BLUEPRINT’ @CARMINEGALLO Warren Buffett’s announcement that he’s stepping down as CEO of Berkshire Hathaway at the end of the year came as a surprise to millions of loyal shareholders—although not entirely unexpected since Buffett turns 95 this year The 20,000 shareholders who attended Saturday’s meeting in a packed Omaha arena got perhaps their last extended glimpse into Buffett’s remarkable ability to turn complicated financial topics into simple I watch Berkshire’s meeting—the “Woodstock for Capitalists”—every year This year I was struck by how many people used Buffett’s own language in their questions One question came from an audience member who asked Buffett how he intends to invest part of Berkshire’s $300 billion that’s sitting in cash The question was: “Are you encouraged that you might see some fat pitches coming your way?” The fat pitch is a classic Buffett baseball metaphor that sums up his investing philosophy A “fat pitch” is one that’s thrown right down the middle and is easy to hit Buffett says that investing requires patience Buffett waits until he sees a company that he believes is mispriced or misunderstood by other investors—and then he commits and swings for the fences Cognitive science tells us that Buffett’s metaphor works because it’s an example of concrete “domain mapping”—the art of explaining new or complex ideas by comparing them to something everyone knows or can easily grasp You can use domain mapping to explain complex topics in your field Pick an abstract topic like how to invest money Buffett didn’t have to expound on complex principles such as risk reduction He simply drew a parallel to something more familiar like a particular sport Keep in mind that the sport he used—baseball—is popular in the U.S but might not work as well outside the country you might want to use cricket or soccer—just don’t call it “soccer” outside the U.S domain mapping takes a little thought to get it right Another example of domain mapping that stood out in Saturday’s meeting was Buffett’s explanation of capitalism as “a magnificent cathedral … with a massive casino attached.”   Although the cathedral—capitalism—has produced an economy “like nothing the world’s ever seen,” Buffett explained people are tempted to go to the casino because “it’s so much more fun … they bring you drinks and ring bells when you win.” sustainable companies to a cathedral—they’re built over time and produce real goods and services such as Berkshire’s investment in Apple People are tempted by meme stocks and get-rich-quick schemes they can’t explain but fall for them anyway Buffett’s advice: “It’s very important that the United States in the next hundred years make sure that the cathedral is not overtaken by the casino.” it might just circulate for a hundred years The opinions expressed here by Inc.com columnists are their own Refreshed leadership advice from CEO Stephanie Mehta The S&P 500 and the Nasdaq both fell about 0.8% but the official word adds new gravity to an already fraught moment Buffett will stay on as Berkshire’s board chair — but either way it’s the end of an era Then there’s Berkshire’s Q1 results: The conglomerate reported a record $348 billion in cash That mountain of dry powder is striking – unlike some retail investors The firm unloaded $4.7 billion in equities while buying just $3.2 billion marking the 10th straight quarter it’s been a net seller of stocks The two-day meeting starts Tuesday with a press conference to follow on Wednesday but that hasn’t stopped the White House from applying fresh pressure for looser policy — a now-familiar run of shouty mixed messages and not-quite-coherent demands which was both nonspecific and contradictory citing a foreign propaganda effort that’s allegedly “devastating” Hollywood The abrupt announcement directs the Commerce Department and U.S Trade Representative to enforce the tax — a move likely to shake the global film industry and inflame trade tensions The Conference Board’s Leading Economic Index (LEI) dropped 0.7% in March its steepest monthly fall since October 2023 and the fourth consecutive decline The index has now fallen in 35 of the past 37 months and sits at its lowest level since 2016 With a cumulative drawdown of 16% from its peak the LEI is creeping closer to 2008-level territory consumers now believe a recession is “somewhat” or “very likely” in the next 12 months — the highest in two years That’s an 8-point jump since November and a sign of the growing disconnect between Wall Street’s rally and Main Street’s dread Consumers are reporting worsening views of their family finances and inflation-related commentary from Tyson and Clorox Ford’s margins and Cummins’ industrial outlook will also shape investor mood Our free, fast, and fun briefing on the global economy, delivered every weekday morning. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world ColumnistWarren Buffett Took the Long ViewAlso hedge fund gates private credit timing and a Trumpcoin treasury company which has made a lot of money for shareholders of Berkshire Hathaway Inc. Here is some of the analysis that Berkshire did: Buffett and his lieutenants did some research saw that the price/earnings multiple was reasonable and concluded that the company’s earnings would grow in the medium term Greg Abel, Buffett’s longtime heir apparent, will take over as CEO, while Buffett will remain chairman. Abel is currently the chairman and CEO of the company’s energy business and the vice chairman of Berkshire’s non-insurance operations. News of the 94-years-old Buffett’s retirement stirred reactions from several major business leaders. Continue reading to see what people including Tim Cook and Mark Cuban had to say about Buffett’s decision to step down. —Shannon Carroll contributed to this article. “It was the highlight of my year,” he said. “His life lessons delivered to young and old are as valuable as his business acumen. I have personally learned so much from him and look forward to continuing to benefit from his insights,” Moynihan continued, according to Reuters. “He has been a tremendous supporter and investor in Bank of America and our nation’s economy and the innovative spirit of the United States.” “Our only G.O.A.T,” he added, referring to Buffett as the “greatest of all time.” “Curtain call for the captain,” Hakimian said. He said Buffett’s “vision and deep sense of responsibility to shareholders is unmatched and his humility and humor are rare qualities in a leader that have made working with Warren a delight.” Please try using other words for your search or explore other sections of the website for relevant information Our team is working diligently to resolve the issue Thank you for your patience and understanding Below is Validea's guru fundamental report for FERGUSON ENTERPRISES INC (FERG). Of the 22 guru strategies we follow, FERG rates highest using our Patient Investor model based on the published strategy of Warren Buffett This strategy seeks out firms with long-term predictable profitability and low debt that trade at reasonable valuations FERGUSON ENTERPRISES INC (FERG) is a large-cap growth stock in the Misc The rating using this strategy is 82% based on the firm’s underlying fundamentals and the stock’s valuation A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest The following table summarizes whether the stock meets each of this strategy's tests Not all criteria in the below table receive equal weighting or are independent but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria Detailed Analysis of FERGUSON ENTERPRISES INC FERG Guru Analysis FERG Fundamental Analysis Warren Buffett Portfolio Top Warren Buffett Stocks About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time Buffett has consistently outperformed the S&P 500 for decades and in the process has become one of the world's richest men (Forbes puts his net worth at $37 billion.) Despite his fortune Buffett is known for living a modest lifestyle His primary residence remains the gray stucco Nebraska home he purchased for $31,500 nearly 50 years ago and his folksy Midwestern manner and penchant for simple pleasures -- a cherry Coke and a good book are all near the top of the list -- have been well-documented Top S&P 500 Stocks Top Russell 2000 Stocks High Earnings Yield Stocks High Free Cash Flow Yield Stocks Small-Cap Value Stocks Low Volatility Stocks About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. 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