Berkeley Hathaway CEO Greg Abel has been praised for his command of the business, but some analysts have been underwhelmed by the company's restrained pace of share buybacks. Despite Berkshire Hathaway's nearly $400 billion cash pile and a return to buybacks in early March, first-quarter repurchases totalled just $235 million, a figure that several analysts believe fell short of expectations due to perceived discount between the stock price and Berkshire's intrinsic value. While Abel reiterated Berkshire's policy of repurchasing shares when they trade below intrinsic value, he did not commit to a defined level of capital deployment. Analysts also commended Abel for his detailed understanding of Berkshire's diverse operations and for his candid discussion of margin pressures at BNSF Railway and management's strategy at the shipping line.