Warren Buffett's $174 Billion Warning to Wall Street Grows Louder -- and Not Even an S&P 500 Correction Has Quieted It
The Oracle of Omaha has been a net seller of stocks for 10 consecutive quarters.
It's been an eventful week for Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett. On Saturday, May 3, the company held its annual shareholder meeting in Omaha, NE, which typically draws in the neighborhood of 40,000 attendees. It's quite the leap from Berkshire's early days, where its annual meeting was held in the employee cafeteria of subsidiary National Indemnity, and roughly two dozen shareholders would attend.
While the headline of Berkshire's annual meeting was the announcement that the Oracle of Omaha plans to step down as CEO by the end of the year, it wasn't the only eyebrow-raising moment.
May 3 also marked the release of Berkshire Hathaway first-quarter operating results. Though it was, more or less, business as usual for the company's more than five-dozen owned subsidiaries (aside from higher insurance payouts), it's Berkshire's cash flow statement that was of particular interest.
