94岁巴菲特宣布年底退休！

Core Viewpoint - Warren Buffett announced his plan to retire by the end of the year during the Berkshire Hathaway annual shareholder meeting, shocking attendees. He intends to recommend Greg Abel, the vice chairman of non-insurance operations, as his successor [1][3]. Group 1: Leadership Transition - Greg Abel has long been seen as Buffett's designated successor, although it was previously believed he would only take over after Buffett's passing [3]. - Many investors express confidence in Abel's ability to manage Berkshire Hathaway, but his performance in cash investments remains to be seen [4]. Group 2: Financial Performance - Berkshire Hathaway reported a significant decline in operating profit for Q1 2025, dropping 14% from $11.22 billion in Q1 2024 to $9.64 billion [7]. - The sharp decline in profit was primarily due to a 48.6% drop in insurance underwriting profits, compounded by the impact of currency devaluation [7]. - The company warned that tariffs could further affect profits, citing uncertainty in the operating environment due to geopolitical risks and trade policies [7]. Group 3: Trade Policy Commentary - Buffett criticized the use of trade as a weapon, particularly through tariff increases, stating that it disrupts global markets [8]. - He emphasized the importance of international trade and collaboration, advocating for a balanced approach rather than broad tariffs [9].