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Buffett’s retirement reshapes how Chinese investors view Berkshire
Berkshire’s CEO transition to Greg Abel, effective January 1, raises questions about whether the company can maintain its long-standing appeal in China despite Buffett stepping down as CEO.
For decades, thousands of Chinese investors traveled to Omaha, Nebraska, to attend Berkshire Hathaway’s annual shareholder meetings, viewing them as more than corporate briefings, according to SCMP Economy. The central theme was Warren Buffett’s value-investing approach, which had been introduced to Chinese investors in the 1990s. Buffett’s retirement as CEO, effective January 1, ended a 60-year run leading the global conglomerate, though he remains chairman. Berkshire said it has replaced Buffett in the CEO role with Greg Abel, who joined the company in 1999 and has run its non-insurance businesses since 2018. Analysts cited by SCMP Economy said Buffett’s personal status may be difficult to replicate, but Berkshire’s investment case remains intact. Qianhai Open Source Fund Management chief economist Yang Delong, who has attended the meetings for a decade, said Buffett’s philosophy is universal and that Chinese investors’ attention would not diminish. Horizon Financial chief economist Kevin Chen Kaifeng, also among this year’s attendees, described Buffett’s framework as buying assets for less than their true worth based on fundamentals rather than short-term trends. Both analysts pointed to Abel’s approach as so far remaining consistent with Buffett’s long-standing strategy, according to the outlet.