<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Warren Buffett will be speaking to the world Saturday at Berkshire Hathaway’s (BRK-A,&nbsp;BRK-B) 2020 Annual Shareholder Meeting.&nbsp;” data-reactid=”16″>Warren Buffett will be speaking to the world Saturday at Berkshire Hathaway’s (BRK-A, BRK-B) 2020 Annual Shareholder Meeting

Circumstances are different this year, and investors from around the world will be tuning in to seek investing wisdom from the “Oracle of Omaha” and guidance on how to navigate the highly uncertain environment amid one of the worst public health and economic crises in history.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Saturday morning, Berkshire Hathaway reported first quarter financial results, and in it, the conglomerate made 31 mentions of the term “COVID-19.” Because Berkshire has investments in a broad range of different industries, its businesses also saw massive disruption from the global pandemic.” data-reactid=”18″>Saturday morning, Berkshire Hathaway reported first quarter financial results, and in it, the conglomerate made 31 mentions of the term “COVID-19.” Because Berkshire has investments in a broad range of different industries, its businesses also saw massive disruption from the global pandemic.

Berkshire’s insurance business, which includes GEICO auto insurance, saw profit margins improve because people simply aren’t driving as much as they used do during the COVID-19 crisis. And while Berkshire’s railroad, utilities businesses remain open, activity has slowed considerably.

Berkshire’s saw first-quarter net losses of nearly $50 billion, including an unrealized loss of $55 billion in investments. It is important to note that because an accounting rule requires companies to report unrealized stock losses and gains with earnings, it often creates wild swings in Berkshire’s overall results.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This year’s meeting is different” data-reactid=”21″>This year’s meeting is different

Unlike prior year’s meetings, shareholders were not invited to attend in person due to the COVID-19 pandemic.

Buffett, Berkshire Hathaway’s CEO, and Greg Abel, Berkshire’s vice chairman of non-insurance operations, were both in physical attendance, and they fielded questions from journalists Becky Quick, Carol Loomis and Andrew Ross Sorkin.

Vice chairman and Buffett’s right-hand man Charlie Munger was not be in attendance. Berkshire’s other directors will also not be attending the event in person.

Click here for complete coverage of Warren Buffett and Berkshire Hathaway.Click here for complete coverage of Warren Buffett and Berkshire Hathaway.
Click here for complete coverage of Warren Buffett and Berkshire Hathaway.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter:&nbsp;@heidi_chung.” data-reactid=”39″>Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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