Investors endorse Greg Abel—even as Berkshire crowd thins without Buffett as CEO. ‘This was definitely the meeting with the deepest insights’

At Greg Abel’s first annual meeting as Berkshire Hathaway CEO this weekend, the arena was about half as full and the tone was more business-focused—but by and large, investors gave the new CEO a thumbs-up.

After 60 years as CEO of the conglomerate that owns everything from Dairy Queen to insurer Geico, Warren Buffett handed over the reins to Abel but is advising him and still serving as chairman.

This year, the meeting celebrated the Oracle of Omaha’s legacy by hanging a jersey bearing his last name and the number 60...