The 61st Berkshire Hathaway Annual Shareholders Meeting convened on May 2, 2026, in Omaha, Nebraska, drawing global investor attention. A significant shift this year marks the official commencement of the post-Buffett era, with Warren Buffett stepping down as CEO while retaining the chairman role, fully transferring leadership to Greg Abel. The new management focuses more on operational details and efficiency, contrasting with the previous emphasis on investment philosophy and personal charisma, which has influenced the meeting's atmosphere and market expectations.

From an asset allocation perspective, Berkshire's record $370 billion cash position and ongoing stock reductions signal clear caution toward U.S. equity valuations. Against a backdrop of interest rate volatility, inflation, and geopolitical uncertainty, markets are widely viewed as being in the late stages of a bull cycle. Meanwhile, AI continues to attract capital as a core narrative, though its long-term value hinges on actual earnings delivery.

Regarding investment strategy, China's market is developing its own value investing approach. A barbell strategy is recommended for the next three to five years: one end focuses on hard-tech growth areas like AI, chips, semiconductors, and robotics where China holds cost advantages; the other end emphasizes high-dividend and resource assets such as non-ferrous metals, coal, and energy infrastructure for stability. Investors should avoid middle-ground sectors like traditional consumption and real estate, which face structural pressures.

In the AI era, standardized roles are increasingly automated, elevating demand for professionals with cross-disciplinary judgment and interpersonal skills. Long-term investment success requires aligning with technological shifts while adhering to value principles—seeking quality companies at reasonable prices for sustained holding—rather than chasing short-term gains.