Buffett announces retirement at the end of the year! Discusses trade war, significant fluctuations in the US stock market, and how young people can shape their investment philosophy......

On May 3 local time, American investor Warren Buffett announced at the Berkshire Hathaway annual shareholder meeting that he plans to retire by the end of the year, shocking the shareholders present.
Warren Buffett stated that he will recommend Greg Abel, Vice Chairman of Non-Insurance Operations, to the Board of Directors of Berkshire Hathaway to succeed him as CEO at the end of the year, saying he believes the time is right for Greg to take on the role of CEO of the company. Buffett mentioned that the only board members who knew about this were his two children, Howard Buffett and Susie Buffett.
"This is a major mistake" Buffett talks about the trade war
At the shareholder meeting, Buffett told more than ten thousand shareholders that the United States should not "weaponize trade" like President Trump by angering the world with increased tariffs. He pointed out that this practice has already disrupted the global market.
"In my opinion, this is a major mistake," Buffett said. "When you have 7.5 billion people unhappy with you, while your 300 million are flaunting their achievements, that is not a wise move."
Although Buffett believes that achieving a balance in international trade is an ideal goal, he does not agree with Trump's approach of promoting trade policy through extensive tariffs. He stated that the world would be safer with more countries achieving prosperity.
"We should engage in trade with other countries around the world—doing what we do best, while they do what they do best," Buffett said.
Buffett discusses the recent significant fluctuations in the US stock market.
Buffett stated that since acquiring Berkshire, the company's stock price has experienced three short-term declines of over 50%, and the company's fundamentals were not an issue at that time. Compared to historical market crashes, the declines of the past few days are nothing at all.
Buffett discusses addressing the U.S. budget deficit
Buffett said, "The issue of how to control government revenue and expenditure has never really been resolved, and this issue has harmed many civilizations." When discussing the enormous fiscal deficit in the United States, he stated: The fiscal deficit in the United States is unsustainable and may become uncontrollable, "and then one can only give up (hope of controlling it)."
He added that he does not want to take on the task of addressing the budget deficit, and Congress does not seem committed to reducing the U.S. budget deficit.
How do young investors shape their investment philosophy? Buffett: Surround yourself with better people.
When discussing how young investors should shape their investment philosophy, Buffett stated that the people you associate with are very important. "You should be around people who are better than you," he said, "and you will move in the direction of the people you associate with."
Buffett revealed that Berkshire was close to finalizing a $10 billion deal recently.
Buffett revealed that he "almost spent $10 billion" not long ago, but ultimately did not go through with it. He also emphasized, "What I mean is that when we encounter investment opportunities that we understand, deem valuable, and reasonable, making these decisions is not difficult."