Berkshire Hathaway's annual meeting in Omaha had a different feel this year, with the absence of vice chairman Charlie Munger and a noticeable sense of caution. One key takeaway was Berkshire's decision to trim its stake in Apple by selling over 116 million shares, reducing its position by 12. 9%. Berkshire cited valuation concerns, market conditions, and the potential increase in the federal rate on capital gains as reasons for the sale. The company's cash and U. S. treasury position reached $182. 3 billion at the end of the first quarter, and Buffett expects it to exceed $200 billion by the end of the second quarter.

Berkshire emphasized its focus on businesses with stable cash flows and mentioned the challenges posed by new regulations, climate change, and the impact of autonomous driving on insurance. Buffett expressed caution towards artificial intelligence, comparing it to the atomic bomb and highlighting its potential for both good and harm. Despite the cautious sentiment, Buffett remains optimistic about the American economy and the stock market's ability to compound wealth over time. In terms of life advice, Buffett encouraged individuals to think of what they want their obituary to read and make choices accordingly.