Full recap of Warren Buffett's comments at the Berkshire Hathaway annual meeting: 'I hope I come next year'

Berkshire Hathaway Chairman and CEO Warren Buffett will preside over the company's annual meeting. Track all of the day's news and analysis here.

Berkshire Hathaway's annual shareholder meeting Saturday had some somber moments as Warren Buffett reflected on the passing of his longtime partner Charlie Munger last year and wrestled with the possibility of his own mortality.

"I know a little about actuarial tables," he joked at one moment.

However, he reassured investors that a plan was in place and revealed for the first time that Greg Abel, his successor, would be making the call on investing decisions.

He also fielded numerous questions from Berkshire Hathaway shareholders. Notably, Buffett explained why Berkshire sold off some of its Apple stock and he revealed a losing bet on Paramount. The Berkshire chairman and CEO also reflected on developments in the quickly evolving field of artificial intelligence and praised Federal Reserve Chair Jerome Powell's work steering the economy.

Here are some of the highlights:

Warren Buffett wrapped up the Q&A portion of the annual meeting with a cheeky farewell remark.

"I not only hope you come next year. I hope I come next year," he said, laughing.

The crowd once again gave the 93-year-old investing legend a standing ovation and a round of applause.

— Yun Li

Warren Buffett praised Federal Reserve Chair Jerome Powell for his work steering the economy over the past few years.

At Berkshire Hathaway's annual shareholder meeting, Buffett called Powell a "very wise man." However, he noted the central bank needs help from lawmakers to rein in the growing U.S. deficit.

Powell "doesn't control fiscal policy, and every now and then he sends out a disguised plea … because that's where the