Warren Buffett, widely regarded as one of the most respected investors, has been at the helm of Berkshire Hathaway for more than 60 years. He recently shared his thoughts on global trade and operations during his company’s annual gathering, often referred to as the “Woodstock of Capitalists.”
- Buffett noted, “We can have a very good argument about the fact that balanced trade is good for the world…and a more balanced trade is better.”
- He expressed concerns, stating, “Trade should not be a weapon… There’s no doubt that trade can become an act of war, and I think that’s leading to something bad. Look at the agitated attitude in the US.”
- Buffett emphasized the desire for a thriving world, mentioning, “I don’t think it’s a great idea to design a world that some countries are saying, including eight countries with nuclear weapons, some very unstable.”
- He added, “I don’t think the more prosperous the rest of the world will thrive, the less sacrifice we will. We will thrive and feel safer.”
- He confidently stated, “U.S. capitalism has been successful in anything you’ve ever seen.”
- Buffett commented on problem-solving, saying, “We are not a business that tries to solve problems that cannot be solved.”
- He pointed out a general issue, “It’s easy to do stupid things with other people’s money than your own. That’s one of the problems governments have in general. We don’t want to bring it to private companies.”
- Buffett mentioned caution regarding investments, “We don’t want to own anything in the currency we really thought would go to hell.”
- He humorously noted, “It’s somewhat embarrassing to say that Tim Cook made much more money than he made Berkshire Hathaway.”
- Reflecting on history, he shared, “We went through a great recession, a world war, and we experienced the development of an atomic bomb that I had never dreamed of when I was born.”
