Summary
On May 6, Berkshire Hathaway's 92-year-old CEO Warren Buffett and 99-year-old vice chairman Charlie Munger answered questions from shareholders.
During the hours-long meeting, Buffett and Munger talked about Apple, Bank of America, and Occidental Petroleum, which are strongly related to Berkshire, about the economic situation and currency, about investing in Japan, about successor candidates, about The dynamics of companies such as Activision Blizzard and Paramount that are related to the interests of the company also talked about their views on hot spots such as the banking crisis and artificial intelligence, and also talked about another billionaire, Elon Musk.
performance review
A "net seller" of stocks in the first quarter, selling a net $10.4 billion of stocks
Buffett said he was a net seller of stocks in the first quarter. The figures underscore that Buffett and Munger don't see valuations as attractive for the period. Since the beginning of the year, Berkshire's cash pile has increased by $2 billion to $130.6 billion, the highest level since the end of 2021. Munger said last month that investors should temper their expectations for stock market returns as the Federal Reserve raises rates and the economy slows.
Buffett: The fluctuations in the past few months may be the most severe since World War II.
Buffett said that most of our businesses will report lower revenue this year than last year. This is due to the economic downturn in the past six months. of. Buffett said that the company has experienced a lot of volatility in the past few months, which may be the worst since World War II.
