In this episode of The Canadian Investor Podcast, Simon and Dan break down Greg Abel’s first Berkshire Hathaway annual meeting as CEO and what it says about the future of the company after Warren Buffett.

They discuss Berkshire’s nearly $400 billion cash pile, whether it is a sign of excessive caution or disciplined capital allocation, and why patience can look like a mistake when markets keep moving higher. They also look at Berkshire’s insurance business, BNSF Railway, energy exposure, AI-related power demand, stock buybacks, and why the conglomerate structure still matters.

In the second half of the episode, Simon and Dan shift to private markets and the growing interest in companies like OpenAI, Anthropic, Stripe, Perplexity, and other pre-IPO businesses. They explain how platforms like EquityZen and Forge Global work, the risks of buying private company shares, and why access alone does not necessarily mean a good investment opportunity.

They also discuss accredited investor rules in Canada and the U.S., whether those rules actually protect investors, and why wealth is a poor substitute for financial sophistication.

Tickers of stocks discussed: BRK.B, AAPL, MSFT, NVDA, GOOG, UNH, IFC.TO, AP.UN.TO

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Berkshire’s $400B Cash Pile + How to Buy Private AI Companies

The Canadian Investor

Berkshire’s $400B Cash Pile + How to Buy Private AI Companies