This weekend, two all-time greats showed us they can still play late in their careers: LeBron and legendary investor Warren Buffett.

• At age 92, Buffett still puts up numbers like he’s in his prime.
• Tens of thousands of investors attended Berkshire Hathaway’s annual shareholder meeting.

Berkshire’s Highlight Reel

1/ Berkshire wasn’t in a buying mood. In the first quarter, the holding group sold $13.3B in stock and spent $4.4B buying back Berkshire’s stock and $2.9B in other public businesses.

2/ Buffett credits his success to making “one [good decision] every five years,” — and another Berkshire exec added: “Over time, it takes just a few winners to work wonders.”

3/ Buffett doesn’t know how the banking situation will play out — and blasted banks and politicians. Communication from politicians has been “very poor,” and he thinks there should be “punishment” for bank execs who took too much risk.

4/ Berkshire had a pessimistic outlook for 2023. Buffett expects the majority of Berkshire’s businesses to report lower earnings. “Get used to making less,” says Munger.

5/ US defaulting on its debt? Buffett isn’t worried — saying he doesn’t expect Washington to let a sovereign default happen, which would be catastrophic.

6/ Apple is still a favorite. Buffett said the company “happens to be better business than any we own [~40% of Berkshire’s holdings]” — who first boughtAAPL

in 2016 after famously being reluctant to invest in tech companies.