Opening Bell: Berkshire's big weekend

Welcome back, team.? Phil Rosen here, reporting from New York.?

While I was enjoying NBA games and "Succession" this weekend, my colleague Theron Mohamed ?was rubbing shoulders and shaking hands with some of the world's top investors in Omaha for Berkshire Hathaway's annual shareholder meeting.

Before we get to the news, we've got a dispatch from Theron — our in-house Warren Buffett expert — on the legendary conference.

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1. "A carnival, a rock concert, and a cult."?That's how Todd Finkle, the author of a new biography on Buffett,?described ?the investor's yearly bash.

It's a truly unique experience to sit in a stadium packed to the rafters with people who have traveled from around the world not to "Shake It Off" with Taylor Swift, but to?watch two guys in their 90s answer questions ?about investing and dispense life advice.

In between swigs of Coca-Cola and mouthfuls of See's Candies, Buffett and his business partner, Charlie Munger,?tackled topics ?ranging from the grim outlook for banks and real estate to?Elon Musk's grand ambitions , the risks posed by AI, and the prospect of?de-dollarization .

The dynamic duo entertained the rapt audience?with funny anecdotes, witty repartee, and an exclusive movie featuring a besotted Jamie Lee Curtis fawning over Munger.

There were also investment panels, cocktail parties, steak dinners, fun runs, and shopping events during the weekend.

In the true spirit of "Woodstock for Capitalists," shareholders lined up in droves to buy Buffett and Munger Squishmallows and other merchandise at the Berkshire Bazaar of Bargains. They also piled into shuttles and journeyed to Buffett's prized jewelry store, Borsheims.

The?hot topics among Buffett loyalists ?included Berkshire's surprise paring of its Taiwan Semiconductor stake last winter (Buffett cited geopolitical concerns about China), and its polarizing decision to plow tens of billions of dollars into two fossil-fuel companies, Chevron and Occidental Petroleum.

Berkshire shareholders said they felt reenergized by the weekend's activities, and couldn't wait to return next year.

2. Morgan Stanley recommends buying into this batch of highly efficient stocks that could hold strong the rest of the year.?Earnings are set to decline as the economy falters, but analysts are confident this list of 41 names will continue to deliver.?See the full list .

3. Four of the world's top investors agree on the biggest risks that will cause the next recession.?With a combined half a trillion dollars in assets,?here's how each of them plan to protect clients in the months ahead .

4. The president of Nationwide's $175 billion retirement business shared his top tips for savers.?He broke down three common blunders to avoid in your finances —?and how to save "a couple hundred thousand dollars" by age 30 .

5. Strong Apple earnings helped ease investor concerns of a possible iPhone slowdown.?The stock jumped on Friday after the latest report exceeded analyst expectations.?Wedbush analysts said Apple delivered "another masterpiece performance."

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This newsletter was curated by Phil Rosen .