Since Warren Buffett announced his intention to step down as CEO of Berkshire Hathaway on May 2, 2025, the company's Class A shares have declined by 14%, while the S&P 500, including dividends, has risen by 11% over the same period. Berkshire Hathaway currently holds a record cash reserve of $347.7 billion, representing 29.9% of its total assets, the highest level ever recorded and well above pre-financial crisis levels. Meanwhile, a director's firm has sold nearly 30% of its Berkshire Hathaway stake. The stock trades at 23 times forward earnings, with concerns about challenges posed by tariffs on its businesses. Additionally, Berkshire Hathaway is expected to reveal details about a significant mystery stock holding soon. In the broader investment landscape, Brookfield is shifting its focus toward becoming an investment-led insurer, diverging from its traditional real assets ownership model.