Berkshire shares struggle into annual meeting. Can Abel rekindle enthusiasm without Buffett center stage?
For the first time, the 95-year-old Buffett won't be the central figure on stage, marking a new era for one of investing's most closely watched rituals.
Opening excerpt (first ~120 words) tap to expand
"With BRK shares now trading at an even greater discount to their intrinsic value since the announcement, we believe the company's level of activity in executing additional share repurchases will be a critical factor influencing investor sentiment," UBS analyst Brian Meredith said in a note.UBS estimates Berkshire is trading at about an 8% discount to its intrinsic value, and the firm expects the conglomerate to repurchase roughly $1.7 billion worth of stock this year. With the stock cheap relative to underlying assets, investors may press Abel on whether the pace of repurchases will accelerate in coming months.Equity portfolio Another area likely to draw scrutiny is Berkshire's sprawling equity portfolio, and how it's being managed in the post-Buffett era.Abel is already moving to put…
Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Top.
Discussion
0 commentsMore from CNBC — Top
