Berkshire shares have roared back to an all-time high on record operating profit, making it the biggest non-tech company by market capitalization.
Shareholders watch Warren Buffett and Charlie Munger from the overflow room during the Berkshire Hathaway annual meeting on Saturday, May 6, 2023, in Omaha, Neb.
"His delivery and his intellectual clarity at the last shareholder meeting was amazing, at a time when most executives could be retired," said Macrae Sykes, portfolio manager of the actively managed Gabelli Financial Services Opportunities ETF, which owns Berkshire as its biggest holding. "Just his presence really demands operating accountability and alignment with the brand. I think that can't be understated," Sykes said.doubled the average annual return of the S&P 500Berkshire's compound annual gain was 19.8% from 1965 through 2022, compared with 9.9% for the S&P 500. That's an overall total return of 3,787,464% vs. 24,708% for the benchmark.
"His preferred holding period is, in his words, forever. He still has this infinite time horizon, even at the age of 93," Kass said.
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