Berkshire Die-Hards Flock to Omaha as Market Volatility Reigns

Berkshire Hathaway Inc. Chief Executive Officer Warren Buffett made his name by being greedy when others were fearful and fearful when others were greedy, dispensing folksy wisdom along the way.

Investors certainly have plenty to be fearful of as they contend with elevated market volatility, turmoil in the regional banking sector and a hawkish Federal Reserve that’s taken aggressive steps to contain inflation. So perhaps a bit of folksy wisdom from Buffett during the annual meeting Saturday will go a long way.

“The markets are at such an odd inflection point and there’s so much volatility, I think there’s going to be a lot of interest in hearing what he has to say,” CFRA analyst Cathy Seifert said in a phone interview. “Particularly since we’re heading into this meeting with the debt ceiling deadline looming.”

This annual meeting is only the second one to be held in person since 2019. Last year’s event came hot on the heels of Berkshire’s deal for insurer Alleghany Corp. and a buying spree that built out stakes in Occidental Petroleum Corp. and HP Inc.

Since then, Berkshire has been less active. There haven’t been major announcements in line with the Alleghany deal, though Buffett made news in April when he joined CNBC for a three-hour block of programing from Japan, joined for the first hour by heir apparent Greg Abel.