At the annual conference of his investment company Berkshire Hathaway, the famous “Oracle of Omaha” gave colleagues some valuable advice. The main thing, however, was that probably no one would hide from inflation, no matter what they invested in.
The fall in net income for the first quarter became the main news from the annual conference of the investment company Berkshire Hathaway, which is controlled by the legendary billionaire Warren Buffett. After a two-year hiatus caused by the pandemic, he also appeared before investors and, together with his long-time colleague Charlie Munger, provided some comments on the current economic situation in the world. “Markets have become a player’s lounge,” Buffett said. Here are the main topics addressed by the famous investment duo.
Weak quarter. Buffett’s Berkshire fell by half
US billionaire Warren Buffett’s Berkshire Hathaway reported a 53 percent year-over-year net profit to $ 5.46 billion in the first quarter. The conglomerate is not immune to the slowing US economy, the CNBC news server wrote.
About inflation
Buffett: In the past, inflation seemed to trick stock investors in particular. It is now certain that bond investors and all people who have their money on mattresses will also have problems. Inflation will affect almost everyone.
About bitcoin and other cryptoactive substances
Buffett: What would I do with “it” (meaning bitcoin)? After all, “it” cannot and will not know anything. The United States government has made it possible for “it” to be exchanged for various things in the United States, including legal tender. But in my opinion, money is still just this (and he waved the classic twenty-dollar bill).
US billionaires are losing weight this year. Indian magnates are coming up
The season resulted in the destruction of the property of most of the richest people on the planet. The loser of the previous year is the founder of Facebook Mark Zuckerberg, whose fortune has halved. By contrast, unknown Indian billionaire Gautam Adani is taking advantage of complicated situations in Ukraine and China, and his ports have earned him tens of billions more in a few weeks, according to Bloomberg.
About markets
Buffett: Markets have turned into a player’s lounge. There is a lot of uncertainty due to the war and inflation. Still, we invested $ 41 billion in the first quarter. (This is the most since the financial crisis occurred in 2008.) In the past, we sometimes didn’t have the best shopping timing, but we always watched to see if we got enough value for our money. We have now increased our positions in gaming giant Activision Blizzard and Chevron.
About Robinhood
Munger: It’s so easy to ruin a great idea. See what Robinhood did “on the way from its summit to the present day. But wasn’t it a little clear that exactly would happen?
This is going to be big. Lunch with Buffett is being auctioned for the last time this year, the proceeds go to charity
After a two-year hiatus, a charity auction of lunch with well-known American investor and billionaire Warren Buffett will take place again this year, but it will be held for the last time. The AP agency reported today with reference to the Glide Foundation from San Francisco, to which the money from the auction is going.
Buffett’s one-off bet on the technology company paid off. He sells it to Gates at a profit
Although Warren Buffett avoids investing in technology companies, the bet on shares of Activision Blizzard, which develops video games, has paid off again.
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