Warren Buffett is preparing to host Berkshire Hathaway’s landmark 60th annual shareholders meeting this Saturday, as investors and analysts eagerly await his insights on the state of the U.S. economy. With President Donald Trump’s tariff measures casting uncertainty over business conditions, many are especially keen to hear how the legendary investor views the challenges ahead. Notably, Berkshire’s shares have outperformed the broader market this year, climbing nearly 19%, while the S&P 500 has dipped over 3%, underscoring the company’s resilience.

Berkshire’s diverse mix of businesses — spanning railroads, insurance, energy, real estate, and apparel — makes it something of a barometer for the American economy. Cathy Seifert, an analyst at CFRA, described the firm as “a microcosm for the whole economy,” noting that investors are eager for Buffett’s take on whether tariffs might erode consumer demand or trigger a broader slowdown. Recent data from the Commerce Department showed the U.S. economy contracting in the first quarter, the first decline in three years, as firms rushed to import goods ahead of tariff hikes.

At 94, Buffett is expected to answer shareholder questions for over four hours at the gathering — a highlight of Berkshire’s annual event. Shareholders can expect Buffett, alongside Vice Chairmen Greg Abel and Ajit Jain, to weigh in on everything from the company’s operating businesses and financial markets to personal philosophies and Berkshire’s future after Buffett eventually steps aside. Abel, named as Buffett’s successor in 2021, has already begun assuming greater responsibility over capital allocation decisions.

One hot topic on attendees’ minds is Buffett’s notable caution in deploying Berkshire’s massive cash reserves, which have swelled to $334.2 billion after nine consecutive quarters of selling more stocks than buying. Robin Nasser, a CPA from Newport Beach attending the meeting, remarked, “Buffett has avoided commenting on tariffs, but people are eager to hear his thoughts — clearly, he knows something, given how much cash he’s sitting on.” Investors will also be watching Berkshire’s first-quarter results, which will be released before the meeting and will detail its cash position and recent stock trades.

In recent months, Berkshire has notably increased its holdings in Japanese trading companies, including Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, lifting its stakes to nearly 10%. Meanwhile, the company’s post-Buffett future remains a source of speculation. Susan Decker, Berkshire’s lead independent director, told CNBC that Abel is increasingly overseeing capital allocation, though the future roles of investment managers Todd Combs and Ted Weschler remain uncertain.

Beyond the much-anticipated Q&A session, shareholders will also vote on seven proposals addressing issues like diversity, environmental responsibility, and artificial intelligence.Consistent with past practice, Buffett and the Berkshire board have recommended voting against all seven. As Berkshire’s vast network of businesses faces a shifting economic landscape, all eyes will be on Omaha to hear what the “Oracle” has to say about navigating the road ahead.