OMAHA, Nebraska - Warren Buffett assured shareholders on May 4 that the executives expected to succeed him at Berkshire Hathaway were ready for the job and heaped praise on Apple even though Berkshire recently trimmed its position in the iPhone maker.

Speaking at Berkshire Hathaway’s annual meeting, the legendary investor also paid tribute to his late partner Charlie Munger and said he expected the conglomerate’s cash pile, which reached a record US$189 billion (S$255 billion) last quarter, to continue growing.