Abel Vows Disciplined Management of Berkshire Cash Stake
CEO Greg Abel told shareholders he will manage Berkshire's record 380.2 billion dollar cash stake without bureaucracy. Operating profit rose 18 percent in Q1.
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BERKSHIRE HATHAWAY INC-CL A CEO Greg Abel pledged to manage a record $380.2B cash pile without bureaucracy during the conglomerate's first post-Buffett annual meeting. Operating profit rose 18% to $11.35B in the first quarter, even as Berkshire shares lagged the S&P 500 by 39 percentage points since Buffett announced at last year's meeting that he would step down. Investors are weighing Abel's ability to deploy capital in the United States as tech-driven markets outpace Berkshire's industrial core.
