Legendary investor Warren Buffett announced a wide range of topics in a highly anticipated annual letter to shareholders, including worsening fiscal issues in the U.S., advice to the Trump administration and his at Berkshire Berkshire Hathaway’s 60-year career. Here are the best highlights of Buffett’s 2024 letter: “Omaha Oracle” revealed that Berkshire paid $26.8 billion in taxes last year, accounting for about 5% of all U.S. companies paid. He urged the current government to spend money wisely and maintain a stable currency. So thank you, Uncle Sam. One day, Berkshire’s nieces and nephews want to pay you a bigger payment than we would in 2024. Spend money wisely. Taking care of many people, you can get short straws for your life because you don’t have your own fault. They deserve better. And never forget that we need you to maintain a stable currency, and the result requires your wisdom and vigilance. Buffett also attracted the attention of the country’s spiral financial issues. In fiscal 2024, the budget deficit exceeded $1.8 trillion, with interest expenses exceeding $1 trillion for the first time due to long-term long-term yields. If fiscal stupidity prevails, paper money can be seen to evaporate its value. In some countries, this reckless approach has become a habit, and in our short history, the United States has been close to the brink. Fixed alliance bonds do not prevent protection from out-of-control currency. The 94-year-old Berkshire CEO stressed that despite his recent huge stock sales craze, he still prefers owning stocks. The Omaha-based conglomerate sold its shares in the ninth consecutive quarter of last year, while amassing a record-breaking cash pile of $334 billion. Although some commentators currently consider the cash position at Berkshire to be extraordinary, most of your funds are still in stocks. This preference will not change. Berkshire shareholders can rest assured that we will always deploy a large amount of funds in stocks – most of them in U.S. stocks, although many of them will have international significance. Berkshire would never rather have ownership of cash equivalent assets than ownership of a good business, whether controlled or only partially owned. In this year’s letter, Buffett endorsed his designated successor, Greg Abel, to pick up equity opportunities, and even compared him to the late Charlie Munger. He added that when Buffett no longer takes the helm, Abel will continue the tradition of writing a year’s letter. Usually, nothing looks compelling. It is rare to see our knee-beat chance. Greg vividly demonstrates his ability to act in times like Charlie and Charlie. At 94, not long after, Greg Abel replaced me as CEO and will write a letter for a year. Greg shares Berkshire’s Creed, and Berkshire CEOs deserve every year to the owner. And he also learned that if you start cheating shareholders, you will soon believe your Baloney and deceive yourself. Buffett reflects on his admirable career in Berkshire for more than 60 years, pointing to some crucial decisions that helped transform the conglomerate, including the acquisition of auto insurer Geico and the hiring of Ajit Jain to oversee its insurance business. My potential in the business, as well as the ability and loyalty of the manager, have brought many surprises. Our experience is that over time, a single winning decision can make a breathtaking difference. (Think of Geico as a business decision, Ajit Jain is a management decision, and my luck is to use Charlie Munger as a unique partner, personal consultant and determined friend.) The errors fade; the winner can blossom forever. Famous value investor noted that Berkshire will be a long-term investor in his start buying Japanese trading companies for nearly six years. He revealed that Berkshire has reached an agreement with the company to exceed the initial 10% cap. We have held these five for a long time and we are committed to supporting their board of directors. From the outset, we also agreed to put Berkshire’s holdings below 10% of each company’s shares. But as we approach this restriction, the five companies agreed to moderately relax the ceiling. Over time, you may see an increase in ownership of all five people in Berkshire.
Advice to Trump, working in Berkshire helmet for 60 years | Real Time Headlines
RELATED ARTICLES