Photo: Warren Buffett owner of the largest power generation company named Berkshire Hathaway (REUTERS/Rick Wilking)
Jakarta, CNBC Indonesia – The billionaire who is a well-known investor, Warren Buffett, opens up about some of the worries on his mind in living life. And, he admits, it didn’t even cross his mind that he was worried about his company, Berkshire Hathaway.
He also admitted that he was not worried about the direction of Berkshire Hathaway’s business amid the current economic downturn at CNBC’s Squawk Box event. Although there is a phenomenon of banking collapse to rising interest rates in the US.
“At 92 years old, I have other things to worry about… I worry about the nuclear threat, I worry about future pandemics, all kinds of things. [hal],” Buffett said. “I never go to bed worrying about Berkshire and how we are going to handle things,” he said, quoted Sunday (23/4/2023).
Since Buffett took over Berkshire Hathaway in 1965, the company has grown to become one of the largest in the world, with a market capitalization of over US$707 billion and an investment portfolio including Geico, Dairy Queen, Duracell and Fruit of the Loom.
Buffett is known to have good optimism, as praised by close friends such as Melinda French Gates. In 2017, a data scientist conducted a sentiment analysis on decades of Buffett’s annual letters to Berkshire shareholders, and found a surplus of Buffett’s positive thoughts.
This is seen in the investment strategy. Buffett is a well-known advocate for choosing investments you believe in, regardless of the current price, and taking advantage of declining stocks to buy more of the companies you trust.
When stocks go down, “I’ll let you know [investor]don’t watch the market too closely,” Buffett told CNBC in 2016 during a volatile market period.
Her optimism is rooted in high self-confidence. “99 and a fraction of my net worth is in Berkshire,” Buffett told “Squawk Box” and added several members of his family are also heavily invested in the company.
“If I think that I’m not going to be able to do a decent job of managing risk, a better than I deserve a job, I’m crazy to take on that responsibility,” Buffett said.
When Buffett faces a daunting problem that is beyond his control, such as nuclear war or a future pandemic, he tries to reduce his stress by focusing on situations and tasks that he can handle alone.
“I worry about things that other people don’t worry about, but I can’t get everything done,” says Buffett. “I can’t solve it if the pandemic starts. But whatever can be solved, I have to think about it.
As for security about Berkshire’s future, Buffett has handpicked his company’s next CEO – and successor, Greg Abel. Greg said he had no plans to deviate from Buffett’s formula for Berkshire’s success.
Buffett is known to trust the leaders at Berkshire’s portfolio companies to make sound business decisions, and he expects Abel to follow suit.
“I don’t give [Abel] some envelopes telling him what to do next,” but Berkshire Hathaway was “very lucky” to have Abel take the reins,” Buffett said.
(dce)
2023-04-23 12:45:00
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