Buffett rules out ‘eye-popping’ returns. But investors aren’t listening.
livemint.comWarren Buffett recently warned that Berkshire Hathaway has “no possibility of eye-popping performance." That hasn’t cooled the ardor of his fans, who could make Berkshire the only non-tech company in the U.S. worth $1 trillion. Shares of the sprawling conglomerate-—which operates businesses from insurer Geico to BNSF Railway and owns big chunks of Apple and American Express—have roared ahead of the broader market this year, even as Buffett, 93 years old, adapts to running Berkshire without the counsel of his longtime friend and partner Charlie Munger, who died in November at 99.
Buffett will take the stage Saturday at Berkshire’s annual meeting in Omaha, Neb., where thousands of shareholders and onlookers listen eagerly each year as he holds forth on investing, business and life. The weekend gathering, which Buffett has dubbed “Woodstock for Capitalists," features an exhibit hall with displays from Berkshire companies like Dairy Queen, Fruit of the Loom and Duracell. Shareholders can sip a cocktail Friday evening at the Borsheims jewelry store and lace up their running shoes—maybe from Berkshire’s Brooks—on Sunday for the “Invest in Yourself" 5K.
Many shareholders will arrive in Omaha feeling good. Berkshire has outpaced some of America’s tech titans in 2024, leaving shares of Apple, Microsoft and Tesla in the dust. Its Class B shares have jumped 12%, versus the S&P 500’s 5.2% advance.
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