About Warren Buffett
Warren Buffett, chairman of Berkshire Hathaway, said at the company’s 2026 annual shareholder meeting that the transition of CEO duties to Greg Abel is “all working” and that Abel is “doing everything I did and then some.” Buffett described the current environment for deploying Berkshire’s cash as “not ideal,” noting that the company has roughly $380 billion in cash on hand. He characterized much of today’s market activity as “gambling,” comparing the markets to “a church with a casino attached” and stating that “the casino’s gotten very attractive to people.” He said that buying one-day options is “not investing” and “not speculating,” but “gambling.”
Buffett also reflected on Berkshire’s $35 billion investment in Apple, which he said has grown to about $185 billion pre-tax over ten years. He praised Tim Cook’s leadership, saying Cook “succeeded a legend” in Steve Jobs and calling Cook’s record “one of the miracles of American business management.” In a separate interview, Buffett said his message to shareholders and partners is to follow the golden rule: “Do unto others as you’d have them do unto you.” He added that he has not learned new industries in recent years and that he understands fewer businesses as a percentage of the whole than he did a decade ago.
Source: AI-verified profile updated from Warren Buffett's recent appearances.
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✨ AI-enhanced transcript with speaker attribution
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Warren Buffett0:01
China. Dairy Queens, something like that in China.
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Liz0:07
Wells Fargo, Wells Fargo writes a lot of mortgages. Warren, yet another revelation with Wells Fargo, they foreclosed on 400 homes by accident, because they didn't realize some of these owners deserved loan modifications. Just in the last couple hours they have had to fire a bunch of brokers who were fudging on the investment opportunity and say, this is so embarrassing, there is incompetence at some levels, I'm out of this stock?
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Warren Buffett0:38
People, they have the wrong incentives initially.
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Liz0:41
Different things in a row.
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Warren Buffett0:53
Are wrong. I hope we catch them fast. I hope if we do catch them I hope we do something about it. You do not have a town of 370,000 people and leave your doors unlocked.
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Liz1:02
So you're not there yet with Wells Fargo. Apple, you've been buying Apple, 56 billion now. I have to ask you, Apple has should get in the electric vehicle business and maybe do so buying Tesla. You and Charlie Munger, your vice-chair, did this with BYD, buying electric vehicle and electric battery company. Would you suggest that, Apple get into it or would you support it?
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Warren Buffett1:32
I would support what Tim Cook does but I think it would be very poor idea to get in the auto business. Is different than some businesses. If your premier with Google on search or premier with movies on Netflix, whatever it be, there is a huge first mover and size, network effect, all that working for you. You can win in autos one year and lose the next. You have got a dozen big companies out there with resources they will keep coming. They copy what you do. People move from one year to another. Is on the iPhone as opposed, you don't want your whole life to be in one car or something. It is not a, does not give you a permanent advantage.
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Liz2:26
Musk tweet, I'm going private, wouldn't go private, reveal something they shouldn't have, how would you and he will that?
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Warren Buffett2:33
If you misspeak, I can do it if you got a stock trading like crazy, you don't come on three minutes later I misspoke when lending secured, I meant to say really can get funding. Calling it rat poison, rat poison squared.
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Liz3:10
Will not host the NBA programs call Buffett U, where you call Buffet University. You took pictures with them. Dancing with some of them. Doing wrestling poses. 'Charlie's Angels.' Are you feeling okay?
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Warren Buffett3:25
I feel great. My doctor said I'm in way better shape than I was a few years ago. I, I tap dance to work still. But, the only draw back, and I did the students for 60 months, I would never want to
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Liz3:52
My dad used to say at 88 to his patients, mind gets soft, arteries get hard.
