Follow Warren Buffett’s commentary and all the action at Berkshire Hathaway’s annual meeting: Live updates

CFRA is bullish on B shares of Berkshire Hathaway ahead of the company’s annual meeting.

The firm called the stock “undervalued versus historical averages” and anticipates catalysts in the Berkshire Hathaway’s earnings release Saturday morning.

Shares of Berkshire Hathaway are up nearly 13% year to date.

To read more about CFRA’s call and what it expects from CEO Warren Buffett during the so-called “Woodstock for Capitalists,” read the full story here.

— Michelle Fox

There’s a chance that Buffett will reveal the mystery wager Berkshire has been buying for two quarters straight.

In the third and fourth quarters of 2023, Berkshire was granted confidential treatment to keep the details of one or more of its stock holdings confidential.

Many speculated that the secret purchase could be a bank stock as the conglomerate’s cost basis for “banks, insurance, and finance” equity holdings jumped by $3.59 billion in the second half of last year, according to separate Berkshire filings.

It’s relatively rare for Berkshire to request such a treatment. The last time it kept a purchase confidential was when it bought Chevron and Verizon in 2020.

— Yun Li

The annual meeting could start on a somber note with the absence of Charlie Munger on everyone’s mind.

Pandemic lockdown apart, it will be the first without Munger, Buffett’s longtime partner who passed away in November at the age of 99.

For the first time, Berkshire will broadcast its annual meeting movie that had previously always been reserved only for those in attendance in Omaha. Many speculate this year’s will be a tear-jerker tribute to Munger.

Vice Chairman of Non-Insurance Operations Greg Abel, Buffett’s designated successor, will fill Munger’s seat in the afternoon session, helping answer shareholder questions.

Munger left a mark on generations of investors in a host of ways thanks to a long and fruitful life. He broadened Buffett’s investing approach to focus on quality companies selling at fair prices. Shareholders also appreciated Munger’s one-of-a-kind bluntness and humor.

— Yun Li

CNBC will be livestreaming Berkshire Hathaway’s annual shareholder meeting on Saturday, beginning at 9:30 a.m. ET. Viewers can expect a lively discussion that will provide insight into Warren Buffett’s view of the market, what types of deals Berkshire could make in the year ahead and other key topics.

Here is a rundown of the day’s events:

9:30 a.m. – 10:15 a.m.: Pre-show anchored by Becky Quick and Mike Santoli

10:15 a.m. – 1 p.m.: Berkshire Hathaway morning Q&A session

1 p.m. – 2 p.m.: Halftime show anchored by Becky Quick and Mike Santoli

2 p.m. – 4:00 p.m.: Afternoon Q&A session of annual meeting

4:00 p.m. – 4:30 p.m.: Post-show anchored by Becky Quick and Mike Santoli

Note: Schedule reflects Eastern Time

—Christina Cheddar Berk