Jonathan Stempel
NEW YORK (Reuters) – Warren Buffett on Saturday sent a warning message to the US government in his annual letter to shareholders of Berkshire Hathaway Inc., maintaining a stable currency in Washington, saying, “Short Straws of Life.” He urged people to take care of those who get it.
“If financial foolishness wins, the banknotes can be seen as their value evaporates,” Buffett writes. “In some countries, this reckless practice has become customary, and in our short history, the US is approaching the edge.”
Perhaps the world's most famous investor, Buffett, 94, also acknowledges the senior age of the letter, and is currently using a cane to shareholders, and has little time to ask questions at Berkshire's annual meeting in May. It will become.
Nevertheless, he assures shareholders that they are in good hands after handing over the reins of the conglomerate to Vice Chairman Greg Abel, and Abel “sharply demonstrated his ability” to deploy capital. He said.
Buffett's letter was accompanied by Berkshire's annual report, reporting its third record annual operating profit, up 27% to $47.444 billion.
The company also recorded $334.2 billion in cash equivalents in 2024, ending reflecting high valuations and aggressive stock sales, particularly Apple. Berkshire is a net seller of stock for the nine-quarter.
Buffett said his company would continue to prefer to own shares, primarily US stock, despite concerns about the country's financial situation.
Buffett said it is likely to increase the shares of all five Japanese traders Berkshire holds: inochu, Marubeni, Mitsubishi, Mitsui and Sumitomo.
Berkshire invested $23.5 billion in these companies at the end of the year.
Buffett has bought opportunities in recent years as stocks regularly set new highs, with the Standard & Poor's 500 winning new highs on Wednesday, and the Nasdaq is just 3% below its December 16 peak I lament the lack of
Berkshire's own share price rose 15% last year, while the S&P 500 rose 18%. Over the past decade, Berkshire's stock price has risen 225%, but the index has risen 241%, including dividends, with 185% rising with dividends excluding, Reuters data shows.
Buffett plans to disclose more about Berkshire and its outlook on May 3rd.
The conference, which normally attracts tens of thousands of people, is shorter this year and doesn't feature its traditional films.
