Berkshire Annual Meetings

Latest News

05-03

Buffett Rules Out "Eye-Popping" Returns. But Investors Aren't Listening

05-06

Apple Shares Fall 1.4% as Buffett's Berkshire Hathaway Slashes Apple Stake in Q1

05-05

Warren Buffett Cautions Against Role of AI in Scamming People

User Discussion

Andrewinho

05-06

Opportunity again!! 👏👏👏👏

Apple Shares Fall 1.4% as Buffett's Berkshire Hathaway Slashes Apple Stake in Q1

1PC

05-06

[LOL] [LOL] [LOL] Bankers Selling.. ...should I Sell with Buffett or........[Speechless] ..... Tough decision[Facepalm] ....... toss a coin 🪙....... Hold [Blush]

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neo26000

05-05

When he buys, someone else is selling. When he sells, someone else is buying. Hence, choose wisely who you want to follow. [Angry]

Warren Buffett Discusses Apple, Cash, Insurance, AI, and More at Berkshire Hathaway's Annual Meeting

Success88

05-05

👏👏👏👍👍👍

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CaseyLKC

05-05

Great

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Guavaxf30

05-05

Do anyone know if besides BYD, does Berkshire hold any other EV positions?

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Yipkc

05-05

zc$Amazon.com(AMZN)$ $Berkshire Hathaway(BRK.B)$ $Alphabet(GOOGL)$ fxyew 👌🏻 s ☝🏻ws👍🏻ko🥹tferyi tl

Berkshire Pares Huge Apple Stake As Cash, Operating Profit Set Records

xXxZealandxXx

05-04

Does Berkshire have a successor that will keep this stock in top form, almost sounded like some of the success was made with Charlie. Yes it does outpace alot of Tech AND OTHERS! thses days, but when you apply Buffets methods "Get rich Slowly" then yes it will hold with hope and integrity, keeping investors in mind... Lets see where Berkshire is in 7 years. - My view only

Buffett Rules Out "Eye-Popping" Returns. But Investors Aren't Listening

Dr Rck

05-03

Brace for an impact that is coming soon! What goes up must come down. For a little while.

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Shares Fall 1.4% as Buffett's Berkshire Hathaway Slashes Apple Stake in Q1\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-06 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4100026-buffetts-berkshire-hathaway-slashes-apple-stake-in-q1><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett's Berkshire Hathaway reduced its stake in iPhone-maker Apple by more than 22% in the first quarter of 2024.Apple shares fell 1.38% in premarket trading.According to the conglomerate's ...</p>\n\n<a href=\"https://seekingalpha.com/news/4100026-buffetts-berkshire-hathaway-slashes-apple-stake-in-q1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","KO":"可口可乐","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","LU0971096721.USD":"富达环球金融服务 A","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0444971666.USD":"天利全球科技基金","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","SG9999014542.SGD":"United Income Focus Trust Acc SGD","AAPL":"苹果","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","BRK.B":"伯克希尔B","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","BRK.A":"伯克希尔","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","CVX":"雪佛龙","BK4534":"瑞士信贷持仓","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU1917777945.USD":"安联专题基金Cl AT Acc","BK4576":"AR","BAC":"美国银行","LU0109391861.USD":"富兰克林美国机遇基金A Acc","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","BK4566":"资本集团","BK4575":"芯片概念","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","BK4559":"巴菲特持仓","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4166":"消费信贷","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0109392836.USD":"富兰克林科技股A","BK4574":"无人驾驶","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC"},"source_url":"https://seekingalpha.com/news/4100026-buffetts-berkshire-hathaway-slashes-apple-stake-in-q1","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2432146234","content_text":"Warren Buffett's Berkshire Hathaway reduced its stake in iPhone-maker Apple by more than 22% in the first quarter of 2024.Apple shares fell 1.38% in premarket trading.According to the conglomerate's latest quarterly filing, Berkshire's investment in Apple, at fair value, fell to $135.4B as of March 31, 2024, from $174.3B as of December 31, 2023.That marks a stake reduction of 22.3% Q/Q. In comparison, Apple stock shed about 11% in the same period.Berkshire is one of Apple's biggest shareholders. Similarly, Apple constitutes the biggest holding of the conglomerate's portfolio.Berkshire's disclosing of its stake reduction in Apple comes two days after the tech behemoth reported FQ2 2024 results. The Tim Cook-led firm delivered much better numbers than feared, especially amid slumping demand for iPhones in China. Moreover, the company unveiled a massive $110B stock buyback, the largest in U.S. corporate history.According to Berkshire's filing, about 75% of its equity investments were concentrated in five companies including Apple (AAPL) as of Q1-end. 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Hence, choose wisely who you want to follow.&nbsp;[Angry]&nbsp;&nbsp;","text":"When he buys, someone else is selling. When he sells, someone else is buying. Hence, choose wisely who you want to follow. [Angry]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/302497140850712","repostId":"2433617877","repostType":4,"repost":{"id":"2433617877","pubTimestamp":1714861140,"share":"https://ttm.financial/m/news/2433617877?lang=&edition=fundamental","pubTime":"2024-05-05 06:19","market":"us","language":"en","title":"Warren Buffett Discusses Apple, Cash, Insurance, AI, and More at Berkshire Hathaway's Annual Meeting","url":"https://stock-news.laohu8.com/highlight/detail?id=2433617877","media":"Motley Fool","summary":"Berkshire is bolstering its cash reserves and passing on riskier bets.","content":"<html><head></head><body><ul style=\"\"><li><p>Berkshire cut its Apple stake by 12.9%.</p></li><li><p>Its cash position is expected to exceed $200 billion by the end of this quarter.</p></li><li><p>Buffett said AI has &#34;enormous potential for good and enormous potential for harm.&#34;</p></li></ul><p>Tens of thousands of <strong>Berkshire Hathaway</strong> (BRK.A -0.56%) (BRK.B 0.07%) investors flocked to Omaha this past week for the annual tradition of listening to Warren Buffett muse over the conglomerate&#39;s business, financial markets, and over 93 years of wisdom on life. But this year&#39;s meeting felt different.</p><p>Longtime vice chairman Charlie Munger passed away in late November. His wry sense of humor, witty aphorisms, and entertaining rapport with Buffett were missed dearly. But there were other noticeable differences between this meeting and those of past years -- namely, a sense of caution.</p><p>Let&#39;s dive into the key takeaways from the meeting and how it could influence what Berkshire does next.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/492ad0fb7ea0539413c13021b3c68a34\" tg-width=\"700\" tg-height=\"466\"/></p><p>Image source: The Motley Fool.</p><h2 id=\"id_655468747\">Berkshire sells roughly 13% of its Apple position</h2><p>The elephant in the room was Berkshire&#39;s decision to trim its stake in <strong>Apple </strong>(AAPL 5.98%) during the first quarter. Berkshire sold over 116 million shares of Apple in Q1, reducing its position by around 12.9%. It marks the company&#39;s largest sale of Apple stock since it began purchasing shares in 2016 -- far larger than the 10 million or so shares Berkshire sold in Q4.</p><p>Buffett addressed the sale with the first answer in the Q&amp;A session: &#34;Unless something dramatic happens that really changes capital allocation and strategy, we will have Apple as our largest investment. But I don&#39;t mind at all, under current conditions, building the cash position. I think when I look at the alternatives of what&#39;s available in equity markets, and I look at the composition of what&#39;s going on in the world, we find it quite attractive.&#34;</p><p>In addition to valuation concerns, market conditions, and wanting to build up the cash position, Buffett also mentioned the federal rate on capital gains, which Buffett said is 21% compared to 35% not long ago and even as high as 52% in the past. Fears that the tax rate could go up based on fiscal policies and a need to cut the federal deficit is another reason why Buffett and his team decided to book gains on Apple stock now instead of risking a potentially higher tax rate in the future.</p><h2 id=\"id_1571236452\">Hoarding a treasure trove of cash</h2><p>Buffett has long spoken about the faith Berkshire shareholders entrust in him and his team to safeguard and grow their wealth. Berkshire is known for being fairly risk-averse, gravitating toward businesses with stable cash flows like insurance, railroads, utilities, and top brands like <strong>Coca-Cola</strong> (KO 0.29%), <strong>American Express</strong> (AXP -0.74%), and Apple. Another asset Berkshire loves is cash.</p><p>Berkshire&#39;s cash and U.S. treasury position reached $182.3 billion at the end of the first quarter, up from $163.3 billion at the end of 2023. Buffett said he expects the cash position to exceed $200 billion by the end of the second quarter.</p><p>You may think Berkshire is stockpiling cash because of higher interest rates and a better return on risk-free assets. But shortly before the lunch break, Buffett said that Berkshire would still be heavily in cash even if interest rates were 1% because Berkshire only swings at pitches it likes, and it won&#39;t swing at a pitch simply because it hasn&#39;t in a while. &#34;It&#39;s just that things aren&#39;t attractive, and there are certain ways that could change, and we will see if they do,&#34; said Buffett.</p><p>The commentary is a potential sign that Berkshire is getting even more defensive than usual.</p><h2 id=\"id_1698563646\">A complex but profitable insurance landscape</h2><p>Berkshire&#39;s underlying business is doing exceptionally well. Berkshire&#39;s Q1 operating income skyrocketed 39.1% compared to the same period of 2023 -- driven by larger gains from the insurance businesses and Berkshire Hathaway Energy (which had an abnormally weak Q1 last year). However, Buffett cautioned that it would be unwise to simply multiply insurance income by four for the full year, considering it was a particularly strong quarter and Q3 tends to be the quarter with the highest risk of claims.</p><p>A great deal of the Q&amp;A session was spent discussing the future of insurance and utilities based on new regulations; price increases due to climate change and higher risks of natural disasters; and the potential impact of autonomous driving reducing accidents and driving down the cost of insurance.</p><p>Ajit Jain, Berkshire&#39;s chairman of insurance operations, answered a question on cybersecurity insurance, saying the market is large and profitable and will probably get bigger but just isn&#39;t worth the risk until there are more data points. There was another question on rising insurance rates in Florida, which Berkshire attributed to climate change, increased risks of massive losses, and a difficult regulatory environment, making it harder to do business in Florida.</p><p>An advantage is that Berkshire prices a lot of its contracts in one-year intervals, so it can adjust prices if risks begin to ramp and outweigh rewards. Or as Jain put it, &#34;Climate change, much like inflation, done right, can be a friend of the risk bearer.&#34;</p><p>As for how autonomous driving affects insurance, Buffett said the problem is far from solved, that automakers have been considering insurance for a while, and that insurance can be &#34;a very tempting business when someone hands you money, and you hand them a little piece of paper.&#34; In other words, it isn&#39;t as easy as it seems. Accident rates have come down, and it would benefit society if autonomous driving allowed them to drop even further, but insurance will still be necessary.</p><h2 id=\"id_3847830970\">Opening the Pandora&#39;s Box of AI</h2><p>Buffett&#39;s response to a question on the potential of artificial intelligence (AI) was similar to his response from the 2023 annual meeting. He compared it to the atomic bomb and called it a genie in a bottle in that it has immense power, but we may regret we ever let it out.</p><p>He discussed a personal experience he had where he saw an AI-generated video of himself that was so lifelike that his kids nor his wife would be able to discern if it really was him or his voice except for the fact that he would never say the things in the video. &#34;if I was interested in investing in scamming, it’s going to be the growth industry of all time,&#34; he said.</p><p>Ultimately, Buffett stayed true to his longtime practice of keeping within his circle of competence, saying he doesn&#39;t know enough about AI to predict its future. &#34;It has enormous potential for good and enormous potential for harm, and I just don&#39;t know how that plays out.&#34;</p><h2 id=\"id_1731775438\">Limitless opportunities</h2><p>Despite the cautious sentiment, Buffett&#39;s optimism about the American economy and the stock market&#39;s ability to compound wealth over time was abundantly clear.</p><p>Oftentimes, folks pay too much attention to Berkshire&#39;s cash position as a barometer of its views on the stock market. While Berkshire keeping a large cash position is certainly defensive, it&#39;s worth understanding the context of its different business units and the history of a particular position like Apple.</p><p>Berkshire probably never set out to have Apple make up 40% of its public equity holdings. Taking some risk off the table, especially given the lower tax rate, makes sense for Berkshire, especially if it believes it will need more reserve cash to handle changing dynamics in its insurance business.</p><p>In terms of life advice, the 93-year-old Buffett said that it&#39;s a good idea to think of what you want your obituary to read and start selecting the education paths, social paths, spouse, and friends to get you where you want to go. &#34;The opportunities in this country are basically limitless,&#34; said Buffett.</p><p>We can all learn a lot from Buffett&#39;s steadfast understanding of Berkshire shareholders&#39; needs and the hard work that goes into selecting few investments and passing on countless opportunities.</p><p>In investing, it&#39;s important to align your risk tolerance, investment objectives, and holdings to achieve your financial goals and stay even-keeled no matter what the market is doing. In today&#39;s fast-paced world riddled with rapid change, staying true to your principles is more vital than ever.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett Discusses Apple, Cash, Insurance, AI, and More at Berkshire Hathaway's Annual Meeting</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett Discusses Apple, Cash, Insurance, AI, and More at Berkshire Hathaway's Annual Meeting\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-05 06:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/05/04/buffett-2024-meeting-berkshire-hathaway-stock/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire cut its Apple stake by 12.9%.Its cash position is expected to exceed $200 billion by the end of this quarter.Buffett said AI has \"enormous potential for good and enormous potential for harm....</p>\n\n<a href=\"https://www.fool.com/investing/2024/05/04/buffett-2024-meeting-berkshire-hathaway-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0082616367.USD":"摩根大通美国科技A（dist）","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","LU0056508442.USD":"贝莱德世界科技基金A2","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BRK.B":"伯克希尔B","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","BK4505":"高瓴资本持仓","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","BK4581":"高盛持仓","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","BRK.A":"伯克希尔","BK4512":"苹果概念","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0109392836.USD":"富兰克林科技股A","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4176":"多领域控股","BK4528":"SaaS概念","BK4023":"应用软件","BK4554":"元宇宙及AR概念","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4507":"流媒体概念","AAPL":"苹果","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4576":"AR","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","BK4575":"芯片概念","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4566":"资本集团","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4543":"AI","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC"},"source_url":"https://www.fool.com/investing/2024/05/04/buffett-2024-meeting-berkshire-hathaway-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2433617877","content_text":"Berkshire cut its Apple stake by 12.9%.Its cash position is expected to exceed $200 billion by the end of this quarter.Buffett said AI has \"enormous potential for good and enormous potential for harm.\"Tens of thousands of Berkshire Hathaway (BRK.A -0.56%) (BRK.B 0.07%) investors flocked to Omaha this past week for the annual tradition of listening to Warren Buffett muse over the conglomerate's business, financial markets, and over 93 years of wisdom on life. But this year's meeting felt different.Longtime vice chairman Charlie Munger passed away in late November. His wry sense of humor, witty aphorisms, and entertaining rapport with Buffett were missed dearly. But there were other noticeable differences between this meeting and those of past years -- namely, a sense of caution.Let's dive into the key takeaways from the meeting and how it could influence what Berkshire does next.Image source: The Motley Fool.Berkshire sells roughly 13% of its Apple positionThe elephant in the room was Berkshire's decision to trim its stake in Apple (AAPL 5.98%) during the first quarter. Berkshire sold over 116 million shares of Apple in Q1, reducing its position by around 12.9%. It marks the company's largest sale of Apple stock since it began purchasing shares in 2016 -- far larger than the 10 million or so shares Berkshire sold in Q4.Buffett addressed the sale with the first answer in the Q&A session: \"Unless something dramatic happens that really changes capital allocation and strategy, we will have Apple as our largest investment. But I don't mind at all, under current conditions, building the cash position. I think when I look at the alternatives of what's available in equity markets, and I look at the composition of what's going on in the world, we find it quite attractive.\"In addition to valuation concerns, market conditions, and wanting to build up the cash position, Buffett also mentioned the federal rate on capital gains, which Buffett said is 21% compared to 35% not long ago and even as high as 52% in the past. Fears that the tax rate could go up based on fiscal policies and a need to cut the federal deficit is another reason why Buffett and his team decided to book gains on Apple stock now instead of risking a potentially higher tax rate in the future.Hoarding a treasure trove of cashBuffett has long spoken about the faith Berkshire shareholders entrust in him and his team to safeguard and grow their wealth. Berkshire is known for being fairly risk-averse, gravitating toward businesses with stable cash flows like insurance, railroads, utilities, and top brands like Coca-Cola (KO 0.29%), American Express (AXP -0.74%), and Apple. Another asset Berkshire loves is cash.Berkshire's cash and U.S. treasury position reached $182.3 billion at the end of the first quarter, up from $163.3 billion at the end of 2023. Buffett said he expects the cash position to exceed $200 billion by the end of the second quarter.You may think Berkshire is stockpiling cash because of higher interest rates and a better return on risk-free assets. But shortly before the lunch break, Buffett said that Berkshire would still be heavily in cash even if interest rates were 1% because Berkshire only swings at pitches it likes, and it won't swing at a pitch simply because it hasn't in a while. \"It's just that things aren't attractive, and there are certain ways that could change, and we will see if they do,\" said Buffett.The commentary is a potential sign that Berkshire is getting even more defensive than usual.A complex but profitable insurance landscapeBerkshire's underlying business is doing exceptionally well. Berkshire's Q1 operating income skyrocketed 39.1% compared to the same period of 2023 -- driven by larger gains from the insurance businesses and Berkshire Hathaway Energy (which had an abnormally weak Q1 last year). However, Buffett cautioned that it would be unwise to simply multiply insurance income by four for the full year, considering it was a particularly strong quarter and Q3 tends to be the quarter with the highest risk of claims.A great deal of the Q&A session was spent discussing the future of insurance and utilities based on new regulations; price increases due to climate change and higher risks of natural disasters; and the potential impact of autonomous driving reducing accidents and driving down the cost of insurance.Ajit Jain, Berkshire's chairman of insurance operations, answered a question on cybersecurity insurance, saying the market is large and profitable and will probably get bigger but just isn't worth the risk until there are more data points. There was another question on rising insurance rates in Florida, which Berkshire attributed to climate change, increased risks of massive losses, and a difficult regulatory environment, making it harder to do business in Florida.An advantage is that Berkshire prices a lot of its contracts in one-year intervals, so it can adjust prices if risks begin to ramp and outweigh rewards. Or as Jain put it, \"Climate change, much like inflation, done right, can be a friend of the risk bearer.\"As for how autonomous driving affects insurance, Buffett said the problem is far from solved, that automakers have been considering insurance for a while, and that insurance can be \"a very tempting business when someone hands you money, and you hand them a little piece of paper.\" In other words, it isn't as easy as it seems. Accident rates have come down, and it would benefit society if autonomous driving allowed them to drop even further, but insurance will still be necessary.Opening the Pandora's Box of AIBuffett's response to a question on the potential of artificial intelligence (AI) was similar to his response from the 2023 annual meeting. He compared it to the atomic bomb and called it a genie in a bottle in that it has immense power, but we may regret we ever let it out.He discussed a personal experience he had where he saw an AI-generated video of himself that was so lifelike that his kids nor his wife would be able to discern if it really was him or his voice except for the fact that he would never say the things in the video. \"if I was interested in investing in scamming, it’s going to be the growth industry of all time,\" he said.Ultimately, Buffett stayed true to his longtime practice of keeping within his circle of competence, saying he doesn't know enough about AI to predict its future. \"It has enormous potential for good and enormous potential for harm, and I just don't know how that plays out.\"Limitless opportunitiesDespite the cautious sentiment, Buffett's optimism about the American economy and the stock market's ability to compound wealth over time was abundantly clear.Oftentimes, folks pay too much attention to Berkshire's cash position as a barometer of its views on the stock market. While Berkshire keeping a large cash position is certainly defensive, it's worth understanding the context of its different business units and the history of a particular position like Apple.Berkshire probably never set out to have Apple make up 40% of its public equity holdings. Taking some risk off the table, especially given the lower tax rate, makes sense for Berkshire, especially if it believes it will need more reserve cash to handle changing dynamics in its insurance business.In terms of life advice, the 93-year-old Buffett said that it's a good idea to think of what you want your obituary to read and start selecting the education paths, social paths, spouse, and friends to get you where you want to go. \"The opportunities in this country are basically limitless,\" said Buffett.We can all learn a lot from Buffett's steadfast understanding of Berkshire shareholders' needs and the hard work that goes into selecting few investments and passing on countless opportunities.In investing, it's important to align your risk tolerance, investment objectives, and holdings to achieve your financial goals and stay even-keeled no matter what the market is doing. In today's fast-paced world riddled with rapid change, staying true to your principles is more vital than ever.","news_type":1},"isVote":1,"tweetType":1,"viewCount":152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":302490258182216,"gmtCreate":1714869675299,"gmtModify":1714869678746,"author":{"id":"4101948424484190","authorId":"4101948424484190","name":"Success88","avatar":"https://static.itradeup.com/news/4408e1a22d73e99adb53aa65dde8ad91","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4101948424484190","idStr":"4101948424484190"},"themes":[],"htmlText":"👏👏👏👍👍👍","listText":"👏👏👏👍👍👍","text":"👏👏👏👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/302490258182216","repostId":"2433617877","repostType":4,"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":302486349226120,"gmtCreate":1714868628935,"gmtModify":1714868632326,"author":{"id":"4091363089250230","authorId":"4091363089250230","name":"CaseyLKC","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4091363089250230","idStr":"4091363089250230"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/302486349226120","repostId":"2433617877","repostType":2,"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":302483534053504,"gmtCreate":1714867941145,"gmtModify":1714867946844,"author":{"id":"3576140222331577","authorId":"3576140222331577","name":"Guavaxf30","avatar":"https://static.tigerbbs.com/1ff15ff6aa254c9130f9af922f7e2447","crmLevel":9,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3576140222331577","idStr":"3576140222331577"},"themes":[],"htmlText":"Do anyone know if besides BYD, does Berkshire hold any other EV positions?","listText":"Do anyone know if besides BYD, does Berkshire hold any other EV positions?","text":"Do anyone know if besides BYD, does Berkshire hold any other EV positions?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/302483534053504","repostId":"2433617877","repostType":4,"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576140222331577","authorId":"3576140222331577","name":"Guavaxf30","avatar":"https://static.tigerbbs.com/1ff15ff6aa254c9130f9af922f7e2447","crmLevel":9,"crmLevelSwitch":1,"authorIdStr":"3576140222331577","idStr":"3576140222331577"},"content":"Just tead this from Nasdaq news. Credit to David Jagielski. “Whether Tesla will be the dominant brand in 10 years is the big unknown. Buffett values a company that has a moat, a strong competitive advantage that can keep competitors away. He clearly does not see Tesla or another major automaker dominating to the point where it can make for a strong investment.”","text":"Just tead this from Nasdaq news. Credit to David Jagielski. “Whether Tesla will be the dominant brand in 10 years is the big unknown. Buffett values a company that has a moat, a strong competitive advantage that can keep competitors away. He clearly does not see Tesla or another major automaker dominating to the point where it can make for a strong investment.”","html":"Just tead this from Nasdaq news. Credit to David Jagielski. “Whether Tesla will be the dominant brand in 10 years is the big unknown. Buffett values a company that has a moat, a strong competitive advantage that can keep competitors away. He clearly does not see Tesla or another major automaker dominating to the point where it can make for a strong investment.”"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":302478138192000,"gmtCreate":1714866623795,"gmtModify":1714877017309,"author":{"id":"3581832450236970","authorId":"3581832450236970","name":"Yipkc","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581832450236970","idStr":"3581832450236970"},"themes":[],"htmlText":"zc<a href=\"https://ttm.financial/S/AMZN\">$Amazon.com(AMZN)$&nbsp;</a>&nbsp;<a href=\"https://ttm.financial/S/BRK.B\">$Berkshire Hathaway(BRK.B)$ </a><a href=\"https://ttm.financial/S/GOOGL\">$Alphabet(GOOGL)$&nbsp;</a> fxyew 👌🏻 s&nbsp; &nbsp; ☝🏻ws👍🏻ko🥹tferyi tl&nbsp;","listText":"zc<a href=\"https://ttm.financial/S/AMZN\">$Amazon.com(AMZN)$&nbsp;</a>&nbsp;<a href=\"https://ttm.financial/S/BRK.B\">$Berkshire Hathaway(BRK.B)$ </a><a href=\"https://ttm.financial/S/GOOGL\">$Alphabet(GOOGL)$&nbsp;</a> fxyew 👌🏻 s&nbsp; &nbsp; ☝🏻ws👍🏻ko🥹tferyi tl&nbsp;","text":"zc$Amazon.com(AMZN)$ $Berkshire Hathaway(BRK.B)$ $Alphabet(GOOGL)$ fxyew 👌🏻 s ☝🏻ws👍🏻ko🥹tferyi tl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/302478138192000","repostId":"2432393110","repostType":2,"repost":{"id":"2432393110","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1714824726,"share":"https://ttm.financial/m/news/2432393110?lang=&edition=fundamental","pubTime":"2024-05-04 20:12","market":"us","language":"en","title":"Berkshire Pares Huge Apple Stake As Cash, Operating Profit Set Records","url":"https://stock-news.laohu8.com/highlight/detail?id=2432393110","media":"Reuters","summary":"OMAHA, Neb., May 4 (Reuters) - Berkshire Hathaway Inc posted a record quarterly profit on Saturday, boosted by strength in its insurance operations, and appears to have sold a significant number of Ap","content":"<html><head></head><body><p style=\"text-align: start;\">OMAHA, Neb., May 4 (Reuters) - Berkshire Hathaway significantly reduced its enormous stake in Apple in the first quarter, as Warren Buffett&#39;s conglomerate let its cash hoard swell to a record $189 billion.</p><p>Buffett&#39;s company also posted a record operating profit exceeding $11 billion, as its insurance operations benefited from improved underwriting and higher income from investments as interest rates rose.</p><p>The value of Berkshire&#39;s stake in Apple fell 22% to $135.4 billion as of March 31 from $174.3 billion at the end of 2023, even though the iPhone maker&#39;s share price fell just 11% in the quarter.</p><p>Based on changes in Apple&#39;s stock price, Berkshire appears to have sold 13% of its Apple shares in the quarter, ending with about 790 million.</p><p>A large sale is an about-face for Buffett, who is normally tech-phobic but came to view Apple as a consumer goods company with strong pricing power and devoted customers.</p><p>Some investors, however, have expressed concern that Apple consumed too much of Berkshire&#39;s investment portfolio.</p><p>But the sales leave Buffett with more than six times the minimum $30 billion cash cushion he has pledged to keep. Berkshire realized $11.2 billion of after-tax gains in the quarter from selling investments.</p><h3 id=\"id_576680366\" style=\"text-align: start;\">PROFIT SWELLS</h3><p>First-quarter operating profit rose 39% to $11.22 billion, or about $7,807 per Class A share, from $8.07 billion a year earlier.</p><p>Net income fell 64% to $12.7 billion, or $8,838 per share, from $35.5 billion a year earlier, when Berkshire had large unrealized gains from its stocks.</p><p>An accounting rule requires Berkshire to report those gains with its financial results. Buffett urges investors to ignore the resulting volatility.</p><p>Berkshire also repurchased $2.6 billion of its own stock in the first quarter, and a small amount in the first three weeks of April.</p><p>The results were released ahead of Berkshire&#39;s annual shareholder meeting in Omaha, part of a weekend that draws tens of thousands of people to the city.</p><p>Buffett, 93, has led Berkshire since 1965, transforming it from a struggling textile company into a conglomerate whose dozens of businesses including Geico, the BNSF railroad, Berkshire Hathaway Energy, and Dairy Queen and See&#39;s Candies.</p><p>The diversification has led many investors, not just Buffett fans, to view Berkshire as a stable long-term investment even amid recession fears and concerns about the banking industry.</p><h3 id=\"id_3354714286\" style=\"text-align: start;\">GEICO HELPS POWER EARNINGS</h3><p>Insurance profit soared 80% to $5.2 billion. This included a more than doubling of underwriting profit at Geico, which benefited from rate increases and a large decline in the percentage of premiums it used to pay for accident losses.</p><p>Profit fell 8% at the BNSF railroad, in part because of lower fuel surcharges and an &#34;unfavorable business mix.&#34;</p><p>Berkshire Hathaway Energy saw profit rise 72%, as improved operating performance from utilities helped offset rising legal costs at the HomeServices of America real estate brokerage related to a nationwide settlement over brokerage commissions.</p><p>The energy business still faces billions of dollars in claims against its PacifiCorp unit over Oregon wildfires in 2020.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Berkshire Pares Huge Apple Stake As Cash, Operating Profit Set Records</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBerkshire Pares Huge Apple Stake As Cash, Operating Profit Set Records\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-05-04 20:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: start;\">OMAHA, Neb., May 4 (Reuters) - Berkshire Hathaway significantly reduced its enormous stake in Apple in the first quarter, as Warren Buffett&#39;s conglomerate let its cash hoard swell to a record $189 billion.</p><p>Buffett&#39;s company also posted a record operating profit exceeding $11 billion, as its insurance operations benefited from improved underwriting and higher income from investments as interest rates rose.</p><p>The value of Berkshire&#39;s stake in Apple fell 22% to $135.4 billion as of March 31 from $174.3 billion at the end of 2023, even though the iPhone maker&#39;s share price fell just 11% in the quarter.</p><p>Based on changes in Apple&#39;s stock price, Berkshire appears to have sold 13% of its Apple shares in the quarter, ending with about 790 million.</p><p>A large sale is an about-face for Buffett, who is normally tech-phobic but came to view Apple as a consumer goods company with strong pricing power and devoted customers.</p><p>Some investors, however, have expressed concern that Apple consumed too much of Berkshire&#39;s investment portfolio.</p><p>But the sales leave Buffett with more than six times the minimum $30 billion cash cushion he has pledged to keep. Berkshire realized $11.2 billion of after-tax gains in the quarter from selling investments.</p><h3 id=\"id_576680366\" style=\"text-align: start;\">PROFIT SWELLS</h3><p>First-quarter operating profit rose 39% to $11.22 billion, or about $7,807 per Class A share, from $8.07 billion a year earlier.</p><p>Net income fell 64% to $12.7 billion, or $8,838 per share, from $35.5 billion a year earlier, when Berkshire had large unrealized gains from its stocks.</p><p>An accounting rule requires Berkshire to report those gains with its financial results. Buffett urges investors to ignore the resulting volatility.</p><p>Berkshire also repurchased $2.6 billion of its own stock in the first quarter, and a small amount in the first three weeks of April.</p><p>The results were released ahead of Berkshire&#39;s annual shareholder meeting in Omaha, part of a weekend that draws tens of thousands of people to the city.</p><p>Buffett, 93, has led Berkshire since 1965, transforming it from a struggling textile company into a conglomerate whose dozens of businesses including Geico, the BNSF railroad, Berkshire Hathaway Energy, and Dairy Queen and See&#39;s Candies.</p><p>The diversification has led many investors, not just Buffett fans, to view Berkshire as a stable long-term investment even amid recession fears and concerns about the banking industry.</p><h3 id=\"id_3354714286\" style=\"text-align: start;\">GEICO HELPS POWER EARNINGS</h3><p>Insurance profit soared 80% to $5.2 billion. This included a more than doubling of underwriting profit at Geico, which benefited from rate increases and a large decline in the percentage of premiums it used to pay for accident losses.</p><p>Profit fell 8% at the BNSF railroad, in part because of lower fuel surcharges and an &#34;unfavorable business mix.&#34;</p><p>Berkshire Hathaway Energy saw profit rise 72%, as improved operating performance from utilities helped offset rising legal costs at the HomeServices of America real estate brokerage related to a nationwide settlement over brokerage commissions.</p><p>The energy business still faces billions of dollars in claims against its PacifiCorp unit over Oregon wildfires in 2020.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","BK4574":"无人驾驶","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","BK4505":"高瓴资本持仓","LU0056508442.USD":"贝莱德世界科技基金A2","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4512":"苹果概念","LU0251142724.SGD":"Fidelity America A-SGD","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4170":"电脑硬件、储存设备及电脑周边","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU0368265418.SGD":"Blackrock World Energy Fund A2 SGD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4579":"人工智能","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0444971666.USD":"天利全球科技基金","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","BK4515":"5G概念","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4570":"地缘局势概念股","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","AAPL":"苹果","BK4507":"流媒体概念","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4575":"芯片概念","BK4566":"资本集团","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0238689110.USD":"贝莱德环球动力股票基金","BRK.B":"伯克希尔B","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU0072462426.USD":"贝莱德全球配置 A2","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","BRK.A":"伯克希尔","BK4550":"红杉资本持仓","LU0080751232.USD":"富达环球多元动力基金A"},"source_url":"https://www.bloomberg.com/news/articles/2024-05-04/buffett-s-berkshire-says-cash-hits-record-as-earnings-gain?srnd=homepage-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2432393110","content_text":"OMAHA, Neb., May 4 (Reuters) - Berkshire Hathaway significantly reduced its enormous stake in Apple in the first quarter, as Warren Buffett's conglomerate let its cash hoard swell to a record $189 billion.Buffett's company also posted a record operating profit exceeding $11 billion, as its insurance operations benefited from improved underwriting and higher income from investments as interest rates rose.The value of Berkshire's stake in Apple fell 22% to $135.4 billion as of March 31 from $174.3 billion at the end of 2023, even though the iPhone maker's share price fell just 11% in the quarter.Based on changes in Apple's stock price, Berkshire appears to have sold 13% of its Apple shares in the quarter, ending with about 790 million.A large sale is an about-face for Buffett, who is normally tech-phobic but came to view Apple as a consumer goods company with strong pricing power and devoted customers.Some investors, however, have expressed concern that Apple consumed too much of Berkshire's investment portfolio.But the sales leave Buffett with more than six times the minimum $30 billion cash cushion he has pledged to keep. Berkshire realized $11.2 billion of after-tax gains in the quarter from selling investments.PROFIT SWELLSFirst-quarter operating profit rose 39% to $11.22 billion, or about $7,807 per Class A share, from $8.07 billion a year earlier.Net income fell 64% to $12.7 billion, or $8,838 per share, from $35.5 billion a year earlier, when Berkshire had large unrealized gains from its stocks.An accounting rule requires Berkshire to report those gains with its financial results. Buffett urges investors to ignore the resulting volatility.Berkshire also repurchased $2.6 billion of its own stock in the first quarter, and a small amount in the first three weeks of April.The results were released ahead of Berkshire's annual shareholder meeting in Omaha, part of a weekend that draws tens of thousands of people to the city.Buffett, 93, has led Berkshire since 1965, transforming it from a struggling textile company into a conglomerate whose dozens of businesses including Geico, the BNSF railroad, Berkshire Hathaway Energy, and Dairy Queen and See's Candies.The diversification has led many investors, not just Buffett fans, to view Berkshire as a stable long-term investment even amid recession fears and concerns about the banking industry.GEICO HELPS POWER EARNINGSInsurance profit soared 80% to $5.2 billion. This included a more than doubling of underwriting profit at Geico, which benefited from rate increases and a large decline in the percentage of premiums it used to pay for accident losses.Profit fell 8% at the BNSF railroad, in part because of lower fuel surcharges and an \"unfavorable business mix.\"Berkshire Hathaway Energy saw profit rise 72%, as improved operating performance from utilities helped offset rising legal costs at the HomeServices of America real estate brokerage related to a nationwide settlement over brokerage commissions.The energy business still faces billions of dollars in claims against its PacifiCorp unit over Oregon wildfires in 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":302106602762472,"gmtCreate":1714776004331,"gmtModify":1714776009921,"author":{"id":"4148375883825622","authorId":"4148375883825622","name":"xXxZealandxXx","avatar":"https://community-static.tradeup.com/news/29ae220a9baf3e7e51b38981fcdecf40","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4148375883825622","idStr":"4148375883825622"},"themes":[],"htmlText":"Does Berkshire have a successor that will keep this stock in top form, almost sounded like some of the success was made with Charlie. Yes it does outpace alot of Tech AND OTHERS! thses days, but when you apply Buffets methods \"Get rich Slowly\" then yes it will hold with hope and integrity, keeping investors in mind... Lets see where Berkshire is in 7 years. - My view only","listText":"Does Berkshire have a successor that will keep this stock in top form, almost sounded like some of the success was made with Charlie. Yes it does outpace alot of Tech AND OTHERS! thses days, but when you apply Buffets methods \"Get rich Slowly\" then yes it will hold with hope and integrity, keeping investors in mind... Lets see where Berkshire is in 7 years. - My view only","text":"Does Berkshire have a successor that will keep this stock in top form, almost sounded like some of the success was made with Charlie. Yes it does outpace alot of Tech AND OTHERS! thses days, but when you apply Buffets methods \"Get rich Slowly\" then yes it will hold with hope and integrity, keeping investors in mind... Lets see where Berkshire is in 7 years. - My view only","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/302106602762472","repostId":"2432162121","repostType":2,"repost":{"id":"2432162121","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1714747573,"share":"https://ttm.financial/m/news/2432162121?lang=&edition=fundamental","pubTime":"2024-05-03 22:46","market":"nz","language":"en","title":"Buffett Rules Out \"Eye-Popping\" Returns. But Investors Aren't Listening","url":"https://stock-news.laohu8.com/highlight/detail?id=2432162121","media":"Dow Jones","summary":"Warren Buffett recently warned that Berkshire Hathaway has \"no possibility of eye-popping performance.\" That hasn't cooled the ardor of his fans, who could make Berkshire the only non-tech company in the U.S. worth $1 trillion.Shares of the sprawling conglomerate- -- which operates businesses from insurer Geico to BNSF Railway and owns big chunks of Apple and American Express -- have roared ahead of the broader market this year, even as Buffett, 93 years old, adapts to running Berkshire without the counsel of his longtime friend and partner Charlie Munger, who died in November at 99.\"In many ways I think Berkshire uniquely benefits from higher interest rates and higher for longer, which is a unique characteristic compared to a lot of the investible universe,\" said Bryant VanCronkhite, senior portfolio manager at Allspring Global Investments, who holds Berkshire shares in a fund he manages.","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7fdbfe66be2cfcf8888654ac41763068\" title=\"\" tg-width=\"700\" tg-height=\"466\"/></p><p style=\"text-align: start;\">Warren Buffett recently warned that Berkshire Hathaway has “no possibility of eye-popping performance.” That hasn’t cooled the ardor of his fans, who could make Berkshire the only non-tech company in the U.S. worth $1 trillion.</p><p style=\"text-align: start;\">Shares of the sprawling conglomerate—which operates businesses from insurer Geico to BNSF Railway and owns big chunks of Apple and American Express—have roared ahead of the broader market this year, even as Buffett, 93 years old, adapts to running Berkshire without the counsel of his longtime friend and partner Charlie Munger, who died in November at 99. </p><p>Buffett will take the stage Saturday at Berkshire’s annual meeting in Omaha, Neb., where thousands of shareholders and onlookers listen eagerly each year as he holds forth on investing, business and life.</p><p>The weekend gathering, which Buffett has dubbed “Woodstock for Capitalists,” features an exhibit hall with displays from Berkshire companies like Dairy Queen, Fruit of the Loom and Duracell. Shareholders can sip a cocktail Friday evening at the Borsheims jewelry store and lace up their running shoes—maybe from Berkshire’s Brooks—on Sunday for the “Invest in Yourself” 5K.</p><p>Many shareholders will arrive in Omaha feeling good. Berkshire has outpaced some of America’s tech titans in 2024, leaving shares of Apple, Microsoft and Tesla in the dust. Its Class B shares have jumped 12%, versus the S&amp;P 500’s 5.2% advance. One Class A share can be converted into 1,500 Class B shares, so A shares trade at a much higher price—more than $600,000, compared with about $400 for a B share.</p><p>As Buffett, the world’s most famous stock investor, enters this next stage at Berkshire’s helm, his company is benefiting from an unusual confluence of economic developments that are weighing on the broad stock market. </p><p>Stubborn inflation and a resilient economy mean hopes are fading that the Federal Reserve is on the cusp of cutting interest rates. Rate cuts typically boost stocks. Now, portfolio managers and mom-and-pop investors are confronting a world where rates may stay higher than they had imagined, changing the way they are thinking about their investments.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2705564e7669413b7e6000efbed7e8c8\" title=\"Berkshire Hathaway’s annual shareholder meeting takes place this weekend in Omaha, Neb. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"466\"/><span>Berkshire Hathaway’s annual shareholder meeting takes place this weekend in Omaha, Neb. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS</span></p><p>Higher rates mean Berkshire is like a happy saver whose money-market funds are suddenly paying up. Berkshire’s towering cash pile also leaves it positioned to make acquisitions if high rates pressure owners of other businesses to the point at which they consider selling. And as a changing forecast for rates makes investors second-guess their appetites for risk, Berkshire’s reputation as a stock-market safe haven is getting attention.</p><p>“In many ways I think Berkshire uniquely benefits from higher interest rates and higher for longer, which is a unique characteristic compared to a lot of the investible universe,” said Bryant VanCronkhite, senior portfolio manager at Allspring Global Investments, who holds Berkshire shares in a fund he manages.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d664cf244cfb83bdc4f3c96734e64c3e\" tg-width=\"323\" tg-height=\"420\"/></p><p>The group of big technology stocks that all went up together in 2023—known as the Magnificent Seven—has broken apart. One in the group, Nvidia, has continued to surge, rising 68% this year. But others have run out of steam, with Tesla sliding as demand for electric vehicles cools and Apple suffering as iPhone sales fall in China.</p><p>Investors will get their next chance to hear from Buffett, Berkshire’s chairman and chief executive, during a lengthy question-and-answer session on Saturday. Shareholders typically pepper Buffett—and until this year, Munger—with queries about Berkshire operating companies, the markets and the economy.</p><p>Buffett sounded a cautionary note about the road ahead in his February letter to shareholders. </p><p>It’s a point he has made before: that Berkshire’s size—it ended 2023 with more than $560 billion of shareholders equity on its balance sheet—will limit its future growth. Back in 1984, Buffett warned Berkshire was big enough that its growth would have to slow. In 1990, he put it this way: “A high growth rate eventually forges its own anchor.” The company kept expanding and its shares kept rising, though their performance relative to the market in recent years depends on when shareholders bought and sold.</p><p>In February, he wrote that the handful of U.S. companies “capable of truly moving the needle at Berkshire” have been picked over, and there are basically no “meaningful options” to deploy capital overseas. </p><p>Still, plenty of investors have looked at Berkshire lately and liked what they saw.  </p><p>Shareholders tout the company’s many revenue streams, which flow from businesses in utilities, highway travel centers, aerospace components, children’s clothing and many other corners of the economy. </p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c59f1401896f3e86ea3cee445d295348\" tg-width=\"322\" tg-height=\"416\"/></p><p>They talk about safety and opportunity in Berkshire’s mountainous cash pile, which sat at a record $167.6 billion, including cash equivalents, at the end of 2023. And many say they are comfortable with the succession plan for Greg Abel, who runs the company’s non-insurance operations, to follow Buffett as chief executive.</p><p>“I would commit 100% of my liquid assets in Berkshire and I wouldn’t think twice about it,” said Paul Lountzis, president of Lountzis Asset Management. “And that’s really unusual for me, because I don’t trust anyone and I’m enormously risk averse.”</p><p>Lountzis, who started reading about Buffett when he was 13, said Berkshire is by far his firm’s largest stockholding. He sees it as the perfect fit for the kind of client he wants: ones who are looking to grow their money but do so without lots of risk. </p><h3 id=\"id_135086037\">A hot streak</h3><p>When Buffett’s annual letter landed, with its prediction that Berkshire would do modestly better than the average company, its stock was on a hot streak.</p><p>Both Class A and Class B shares had just notched seven consecutive record closes, their longest such runs in more than six years, according to Dow Jones Market Data. They closed at their current records on March 28, when A shares reached $634,440 and B shares $420.52. </p><p>Berkshire ended that day with a market value of more than $909 billion. That figure has ticked down to about $862 billion, keeping Berkshire in its spot as the seventh-largest U.S. company by market value. The bigger ones are all tech giants: Microsoft, Apple, Nvidia, Google parent Alphabet, Amazon.com and Facebook parent Meta Platforms.</p><p>The stock’s march higher may excite shareholders, but it has some observers thinking now might not be the best time to buy.</p><p>James Shanahan, a senior equity research analyst at Edward Jones, downgraded Berkshire in late September to a “hold” rating from a “buy.” Shanahan still expected solid earnings from Berkshire’s operating companies but thought its share price, then around $357 for Class B shares, reflected that.</p><p>“We were probably a little bit early,” Shanahan said recently. “But I feel like investor outcomes are going to be a lot more favorable when they can buy the stock cheaper than where it’s trading right now.”</p><p>Berkshire’s B shares traded this week at 1.54 times their average book value, a measure of net worth, over the past four quarters, according to FactSet. That’s a higher valuation than the 10-year average of 1.41 times.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/bb58d3c76a4e28e92d4d561599f615f9\" title=\"Buffett’s fans and shareholders fill an arena to hear him impart lessons on business, markets and life at the Berkshire annual meeting. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS\" tg-width=\"1260\" tg-height=\"840\"/><span>Buffett’s fans and shareholders fill an arena to hear him impart lessons on business, markets and life at the Berkshire annual meeting. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS</span></p><p>The stock’s climb might have to do with expectations that rates will stay high for longer because higher rates mean Berkshire is finally earning a healthy return on its cash hoard.</p><p>The idea of persistent higher rates has forced investors to quickly rethink their expectations for what different assets are really worth, causing unease in markets. Some investors are directing their money into companies that hold up well when volatility strikes, observers said. </p><p>“Berkshire’s always been seen as the safe place to go,” said Greggory Warren, a stock strategist at Morningstar.</p><h3 id=\"id_4546945\">Safety in numbers</h3><p>Not only is Berkshire’s huge stash of cash valuable for earning interest income, but the growth of its cash levels over six consecutive quarters through the end of 2023 reassures investors who are looking to park their money safely.</p><p>Berkshire would be ready to pay any big losses that arise from its insurance business. The cash also fortifies Berkshire’s financial position in case of turmoil in markets or the economy. In the 2008 financial crisis and its aftermath, that strength meant Berkshire could make deals to help rescue blue-chip companies including Goldman Sachs and General Electric. </p><p>And it leaves Buffett equipped to pounce should he find attractive companies to acquire. </p><p>Berkshire in January completed its acquisition of Pilot Travel Centers. It has been building stock positions in recent years in five Japanese trading companies. Buffett wrote in his February letter that Berkshire’s unrealized gain from the five was $8 billion at the end of 2023.</p><p>But Buffett has admitted that finding really big deals to make is a challenge.</p><p>Haruki Toyama, head of large-cap and midcap equity and portfolio manager at Madison Investments, which owns Berkshire shares, said it could make sense for Buffett to think about broadening the range of investments he would consider.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/f2c4cf881476ca9973d6ee159fd86111\" title=\"Annual meeting attendees check out the booth for BNSF Railway, one of Berkshire’s many companies. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"466\"/><span>Annual meeting attendees check out the booth for BNSF Railway, one of Berkshire’s many companies. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS</span></p><p>“They’re getting to the point where they’re so big, if he’s constantly waiting for the elephant to bag—that’s his phrase—we think it’s going to get tougher and tougher,” Toyama said. “We do think he has to make some decisions about, OK maybe my A-plus opportunities aren’t there and I have to be OK with an A-minus opportunity.”</p><p>Berkshire has used some of its cash to buy back its own shares, increasing remaining shareholders’ stakes in the company. Berkshire spent $9.2 billion in 2023 to repurchase shares, up from $7.9 billion in 2022, according to its annual reports. Some shareholders like that Berkshire can use its spare cash to ramp up those repurchases.</p><p>“If the market were to become weak, we think they have incredible firepower to support their own stock by buying back stock,” said VanCronkhite at Allspring Global Investments.</p><p>One event that could someday jolt the stock: When Buffett dies or steps back from running Berkshire. Buffett has given no indication that he would consider retiring.</p><p>Henry Asher, president of The Northstar Group, which counts Berkshire as its largest holding, says it is possible the next generation of Berkshire management may not be quite as adept as Buffett at moving cash among subsidiaries to put the money to its best use.</p><p>“But there’s an awful lot of room to do very, very well and not be as spectacular as Buffett as a capital allocator,” Asher said. “It’s like, would you stop listening to music because Beethoven died?”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett Rules Out \"Eye-Popping\" Returns. But Investors Aren't Listening</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuffett Rules Out \"Eye-Popping\" Returns. But Investors Aren't Listening\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-05-03 22:46</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7fdbfe66be2cfcf8888654ac41763068\" title=\"\" tg-width=\"700\" tg-height=\"466\"/></p><p style=\"text-align: start;\">Warren Buffett recently warned that Berkshire Hathaway has “no possibility of eye-popping performance.” That hasn’t cooled the ardor of his fans, who could make Berkshire the only non-tech company in the U.S. worth $1 trillion.</p><p style=\"text-align: start;\">Shares of the sprawling conglomerate—which operates businesses from insurer Geico to BNSF Railway and owns big chunks of Apple and American Express—have roared ahead of the broader market this year, even as Buffett, 93 years old, adapts to running Berkshire without the counsel of his longtime friend and partner Charlie Munger, who died in November at 99. </p><p>Buffett will take the stage Saturday at Berkshire’s annual meeting in Omaha, Neb., where thousands of shareholders and onlookers listen eagerly each year as he holds forth on investing, business and life.</p><p>The weekend gathering, which Buffett has dubbed “Woodstock for Capitalists,” features an exhibit hall with displays from Berkshire companies like Dairy Queen, Fruit of the Loom and Duracell. Shareholders can sip a cocktail Friday evening at the Borsheims jewelry store and lace up their running shoes—maybe from Berkshire’s Brooks—on Sunday for the “Invest in Yourself” 5K.</p><p>Many shareholders will arrive in Omaha feeling good. Berkshire has outpaced some of America’s tech titans in 2024, leaving shares of Apple, Microsoft and Tesla in the dust. Its Class B shares have jumped 12%, versus the S&amp;P 500’s 5.2% advance. One Class A share can be converted into 1,500 Class B shares, so A shares trade at a much higher price—more than $600,000, compared with about $400 for a B share.</p><p>As Buffett, the world’s most famous stock investor, enters this next stage at Berkshire’s helm, his company is benefiting from an unusual confluence of economic developments that are weighing on the broad stock market. </p><p>Stubborn inflation and a resilient economy mean hopes are fading that the Federal Reserve is on the cusp of cutting interest rates. Rate cuts typically boost stocks. Now, portfolio managers and mom-and-pop investors are confronting a world where rates may stay higher than they had imagined, changing the way they are thinking about their investments.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2705564e7669413b7e6000efbed7e8c8\" title=\"Berkshire Hathaway’s annual shareholder meeting takes place this weekend in Omaha, Neb. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"466\"/><span>Berkshire Hathaway’s annual shareholder meeting takes place this weekend in Omaha, Neb. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS</span></p><p>Higher rates mean Berkshire is like a happy saver whose money-market funds are suddenly paying up. Berkshire’s towering cash pile also leaves it positioned to make acquisitions if high rates pressure owners of other businesses to the point at which they consider selling. And as a changing forecast for rates makes investors second-guess their appetites for risk, Berkshire’s reputation as a stock-market safe haven is getting attention.</p><p>“In many ways I think Berkshire uniquely benefits from higher interest rates and higher for longer, which is a unique characteristic compared to a lot of the investible universe,” said Bryant VanCronkhite, senior portfolio manager at Allspring Global Investments, who holds Berkshire shares in a fund he manages.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d664cf244cfb83bdc4f3c96734e64c3e\" tg-width=\"323\" tg-height=\"420\"/></p><p>The group of big technology stocks that all went up together in 2023—known as the Magnificent Seven—has broken apart. One in the group, Nvidia, has continued to surge, rising 68% this year. But others have run out of steam, with Tesla sliding as demand for electric vehicles cools and Apple suffering as iPhone sales fall in China.</p><p>Investors will get their next chance to hear from Buffett, Berkshire’s chairman and chief executive, during a lengthy question-and-answer session on Saturday. Shareholders typically pepper Buffett—and until this year, Munger—with queries about Berkshire operating companies, the markets and the economy.</p><p>Buffett sounded a cautionary note about the road ahead in his February letter to shareholders. </p><p>It’s a point he has made before: that Berkshire’s size—it ended 2023 with more than $560 billion of shareholders equity on its balance sheet—will limit its future growth. Back in 1984, Buffett warned Berkshire was big enough that its growth would have to slow. In 1990, he put it this way: “A high growth rate eventually forges its own anchor.” The company kept expanding and its shares kept rising, though their performance relative to the market in recent years depends on when shareholders bought and sold.</p><p>In February, he wrote that the handful of U.S. companies “capable of truly moving the needle at Berkshire” have been picked over, and there are basically no “meaningful options” to deploy capital overseas. </p><p>Still, plenty of investors have looked at Berkshire lately and liked what they saw.  </p><p>Shareholders tout the company’s many revenue streams, which flow from businesses in utilities, highway travel centers, aerospace components, children’s clothing and many other corners of the economy. </p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c59f1401896f3e86ea3cee445d295348\" tg-width=\"322\" tg-height=\"416\"/></p><p>They talk about safety and opportunity in Berkshire’s mountainous cash pile, which sat at a record $167.6 billion, including cash equivalents, at the end of 2023. And many say they are comfortable with the succession plan for Greg Abel, who runs the company’s non-insurance operations, to follow Buffett as chief executive.</p><p>“I would commit 100% of my liquid assets in Berkshire and I wouldn’t think twice about it,” said Paul Lountzis, president of Lountzis Asset Management. “And that’s really unusual for me, because I don’t trust anyone and I’m enormously risk averse.”</p><p>Lountzis, who started reading about Buffett when he was 13, said Berkshire is by far his firm’s largest stockholding. He sees it as the perfect fit for the kind of client he wants: ones who are looking to grow their money but do so without lots of risk. </p><h3 id=\"id_135086037\">A hot streak</h3><p>When Buffett’s annual letter landed, with its prediction that Berkshire would do modestly better than the average company, its stock was on a hot streak.</p><p>Both Class A and Class B shares had just notched seven consecutive record closes, their longest such runs in more than six years, according to Dow Jones Market Data. They closed at their current records on March 28, when A shares reached $634,440 and B shares $420.52. </p><p>Berkshire ended that day with a market value of more than $909 billion. That figure has ticked down to about $862 billion, keeping Berkshire in its spot as the seventh-largest U.S. company by market value. The bigger ones are all tech giants: Microsoft, Apple, Nvidia, Google parent Alphabet, Amazon.com and Facebook parent Meta Platforms.</p><p>The stock’s march higher may excite shareholders, but it has some observers thinking now might not be the best time to buy.</p><p>James Shanahan, a senior equity research analyst at Edward Jones, downgraded Berkshire in late September to a “hold” rating from a “buy.” Shanahan still expected solid earnings from Berkshire’s operating companies but thought its share price, then around $357 for Class B shares, reflected that.</p><p>“We were probably a little bit early,” Shanahan said recently. “But I feel like investor outcomes are going to be a lot more favorable when they can buy the stock cheaper than where it’s trading right now.”</p><p>Berkshire’s B shares traded this week at 1.54 times their average book value, a measure of net worth, over the past four quarters, according to FactSet. That’s a higher valuation than the 10-year average of 1.41 times.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/bb58d3c76a4e28e92d4d561599f615f9\" title=\"Buffett’s fans and shareholders fill an arena to hear him impart lessons on business, markets and life at the Berkshire annual meeting. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS\" tg-width=\"1260\" tg-height=\"840\"/><span>Buffett’s fans and shareholders fill an arena to hear him impart lessons on business, markets and life at the Berkshire annual meeting. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS</span></p><p>The stock’s climb might have to do with expectations that rates will stay high for longer because higher rates mean Berkshire is finally earning a healthy return on its cash hoard.</p><p>The idea of persistent higher rates has forced investors to quickly rethink their expectations for what different assets are really worth, causing unease in markets. Some investors are directing their money into companies that hold up well when volatility strikes, observers said. </p><p>“Berkshire’s always been seen as the safe place to go,” said Greggory Warren, a stock strategist at Morningstar.</p><h3 id=\"id_4546945\">Safety in numbers</h3><p>Not only is Berkshire’s huge stash of cash valuable for earning interest income, but the growth of its cash levels over six consecutive quarters through the end of 2023 reassures investors who are looking to park their money safely.</p><p>Berkshire would be ready to pay any big losses that arise from its insurance business. The cash also fortifies Berkshire’s financial position in case of turmoil in markets or the economy. In the 2008 financial crisis and its aftermath, that strength meant Berkshire could make deals to help rescue blue-chip companies including Goldman Sachs and General Electric. </p><p>And it leaves Buffett equipped to pounce should he find attractive companies to acquire. </p><p>Berkshire in January completed its acquisition of Pilot Travel Centers. It has been building stock positions in recent years in five Japanese trading companies. Buffett wrote in his February letter that Berkshire’s unrealized gain from the five was $8 billion at the end of 2023.</p><p>But Buffett has admitted that finding really big deals to make is a challenge.</p><p>Haruki Toyama, head of large-cap and midcap equity and portfolio manager at Madison Investments, which owns Berkshire shares, said it could make sense for Buffett to think about broadening the range of investments he would consider.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/f2c4cf881476ca9973d6ee159fd86111\" title=\"Annual meeting attendees check out the booth for BNSF Railway, one of Berkshire’s many companies. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"466\"/><span>Annual meeting attendees check out the booth for BNSF Railway, one of Berkshire’s many companies. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS</span></p><p>“They’re getting to the point where they’re so big, if he’s constantly waiting for the elephant to bag—that’s his phrase—we think it’s going to get tougher and tougher,” Toyama said. “We do think he has to make some decisions about, OK maybe my A-plus opportunities aren’t there and I have to be OK with an A-minus opportunity.”</p><p>Berkshire has used some of its cash to buy back its own shares, increasing remaining shareholders’ stakes in the company. Berkshire spent $9.2 billion in 2023 to repurchase shares, up from $7.9 billion in 2022, according to its annual reports. Some shareholders like that Berkshire can use its spare cash to ramp up those repurchases.</p><p>“If the market were to become weak, we think they have incredible firepower to support their own stock by buying back stock,” said VanCronkhite at Allspring Global Investments.</p><p>One event that could someday jolt the stock: When Buffett dies or steps back from running Berkshire. Buffett has given no indication that he would consider retiring.</p><p>Henry Asher, president of The Northstar Group, which counts Berkshire as its largest holding, says it is possible the next generation of Berkshire management may not be quite as adept as Buffett at moving cash among subsidiaries to put the money to its best use.</p><p>“But there’s an awful lot of room to do very, very well and not be as spectacular as Buffett as a capital allocator,” Asher said. “It’s like, would you stop listening to music because Beethoven died?”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","BK4592":"伊斯兰概念","BK4507":"流媒体概念","BK4567":"ESG概念","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4571":"数字音乐概念","LU0061474960.USD":"天利环球焦点基金AU Acc","BRK.B":"伯克希尔B","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","BRK.A":"伯克希尔","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","BK4525":"远程办公概念","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","BK4211":"区域性银行","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","BK4501":"段永平概念","BK4538":"云计算","LU0238689110.USD":"贝莱德环球动力股票基金","LU0097036916.USD":"贝莱德美国增长A2 USD","MSFT":"微软","AAPL":"苹果","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU0149725797.USD":"汇丰美国股市经济规模基金","BK4503":"景林资产持仓","LU0079474960.USD":"联博美国增长基金A","LU0056508442.USD":"贝莱德世界科技基金A2","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4505":"高瓴资本持仓","BK4573":"虚拟现实","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4512":"苹果概念","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4548":"巴美列捷福持仓","LU0171293334.USD":"贝莱德英国基金A2","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","BK4176":"多领域控股","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0444971666.USD":"天利全球科技基金","BK4516":"特朗普概念","LU0251142724.SGD":"Fidelity America A-SGD","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2432162121","content_text":"Warren Buffett recently warned that Berkshire Hathaway has “no possibility of eye-popping performance.” That hasn’t cooled the ardor of his fans, who could make Berkshire the only non-tech company in the U.S. worth $1 trillion.Shares of the sprawling conglomerate—which operates businesses from insurer Geico to BNSF Railway and owns big chunks of Apple and American Express—have roared ahead of the broader market this year, even as Buffett, 93 years old, adapts to running Berkshire without the counsel of his longtime friend and partner Charlie Munger, who died in November at 99. Buffett will take the stage Saturday at Berkshire’s annual meeting in Omaha, Neb., where thousands of shareholders and onlookers listen eagerly each year as he holds forth on investing, business and life.The weekend gathering, which Buffett has dubbed “Woodstock for Capitalists,” features an exhibit hall with displays from Berkshire companies like Dairy Queen, Fruit of the Loom and Duracell. Shareholders can sip a cocktail Friday evening at the Borsheims jewelry store and lace up their running shoes—maybe from Berkshire’s Brooks—on Sunday for the “Invest in Yourself” 5K.Many shareholders will arrive in Omaha feeling good. Berkshire has outpaced some of America’s tech titans in 2024, leaving shares of Apple, Microsoft and Tesla in the dust. Its Class B shares have jumped 12%, versus the S&P 500’s 5.2% advance. One Class A share can be converted into 1,500 Class B shares, so A shares trade at a much higher price—more than $600,000, compared with about $400 for a B share.As Buffett, the world’s most famous stock investor, enters this next stage at Berkshire’s helm, his company is benefiting from an unusual confluence of economic developments that are weighing on the broad stock market. Stubborn inflation and a resilient economy mean hopes are fading that the Federal Reserve is on the cusp of cutting interest rates. Rate cuts typically boost stocks. Now, portfolio managers and mom-and-pop investors are confronting a world where rates may stay higher than they had imagined, changing the way they are thinking about their investments.Berkshire Hathaway’s annual shareholder meeting takes place this weekend in Omaha, Neb. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWSHigher rates mean Berkshire is like a happy saver whose money-market funds are suddenly paying up. Berkshire’s towering cash pile also leaves it positioned to make acquisitions if high rates pressure owners of other businesses to the point at which they consider selling. And as a changing forecast for rates makes investors second-guess their appetites for risk, Berkshire’s reputation as a stock-market safe haven is getting attention.“In many ways I think Berkshire uniquely benefits from higher interest rates and higher for longer, which is a unique characteristic compared to a lot of the investible universe,” said Bryant VanCronkhite, senior portfolio manager at Allspring Global Investments, who holds Berkshire shares in a fund he manages.The group of big technology stocks that all went up together in 2023—known as the Magnificent Seven—has broken apart. One in the group, Nvidia, has continued to surge, rising 68% this year. But others have run out of steam, with Tesla sliding as demand for electric vehicles cools and Apple suffering as iPhone sales fall in China.Investors will get their next chance to hear from Buffett, Berkshire’s chairman and chief executive, during a lengthy question-and-answer session on Saturday. Shareholders typically pepper Buffett—and until this year, Munger—with queries about Berkshire operating companies, the markets and the economy.Buffett sounded a cautionary note about the road ahead in his February letter to shareholders. It’s a point he has made before: that Berkshire’s size—it ended 2023 with more than $560 billion of shareholders equity on its balance sheet—will limit its future growth. Back in 1984, Buffett warned Berkshire was big enough that its growth would have to slow. In 1990, he put it this way: “A high growth rate eventually forges its own anchor.” The company kept expanding and its shares kept rising, though their performance relative to the market in recent years depends on when shareholders bought and sold.In February, he wrote that the handful of U.S. companies “capable of truly moving the needle at Berkshire” have been picked over, and there are basically no “meaningful options” to deploy capital overseas. Still, plenty of investors have looked at Berkshire lately and liked what they saw.  Shareholders tout the company’s many revenue streams, which flow from businesses in utilities, highway travel centers, aerospace components, children’s clothing and many other corners of the economy. They talk about safety and opportunity in Berkshire’s mountainous cash pile, which sat at a record $167.6 billion, including cash equivalents, at the end of 2023. And many say they are comfortable with the succession plan for Greg Abel, who runs the company’s non-insurance operations, to follow Buffett as chief executive.“I would commit 100% of my liquid assets in Berkshire and I wouldn’t think twice about it,” said Paul Lountzis, president of Lountzis Asset Management. “And that’s really unusual for me, because I don’t trust anyone and I’m enormously risk averse.”Lountzis, who started reading about Buffett when he was 13, said Berkshire is by far his firm’s largest stockholding. He sees it as the perfect fit for the kind of client he wants: ones who are looking to grow their money but do so without lots of risk. A hot streakWhen Buffett’s annual letter landed, with its prediction that Berkshire would do modestly better than the average company, its stock was on a hot streak.Both Class A and Class B shares had just notched seven consecutive record closes, their longest such runs in more than six years, according to Dow Jones Market Data. They closed at their current records on March 28, when A shares reached $634,440 and B shares $420.52. Berkshire ended that day with a market value of more than $909 billion. That figure has ticked down to about $862 billion, keeping Berkshire in its spot as the seventh-largest U.S. company by market value. The bigger ones are all tech giants: Microsoft, Apple, Nvidia, Google parent Alphabet, Amazon.com and Facebook parent Meta Platforms.The stock’s march higher may excite shareholders, but it has some observers thinking now might not be the best time to buy.James Shanahan, a senior equity research analyst at Edward Jones, downgraded Berkshire in late September to a “hold” rating from a “buy.” Shanahan still expected solid earnings from Berkshire’s operating companies but thought its share price, then around $357 for Class B shares, reflected that.“We were probably a little bit early,” Shanahan said recently. “But I feel like investor outcomes are going to be a lot more favorable when they can buy the stock cheaper than where it’s trading right now.”Berkshire’s B shares traded this week at 1.54 times their average book value, a measure of net worth, over the past four quarters, according to FactSet. That’s a higher valuation than the 10-year average of 1.41 times.Buffett’s fans and shareholders fill an arena to hear him impart lessons on business, markets and life at the Berkshire annual meeting. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWSThe stock’s climb might have to do with expectations that rates will stay high for longer because higher rates mean Berkshire is finally earning a healthy return on its cash hoard.The idea of persistent higher rates has forced investors to quickly rethink their expectations for what different assets are really worth, causing unease in markets. Some investors are directing their money into companies that hold up well when volatility strikes, observers said. “Berkshire’s always been seen as the safe place to go,” said Greggory Warren, a stock strategist at Morningstar.Safety in numbersNot only is Berkshire’s huge stash of cash valuable for earning interest income, but the growth of its cash levels over six consecutive quarters through the end of 2023 reassures investors who are looking to park their money safely.Berkshire would be ready to pay any big losses that arise from its insurance business. The cash also fortifies Berkshire’s financial position in case of turmoil in markets or the economy. In the 2008 financial crisis and its aftermath, that strength meant Berkshire could make deals to help rescue blue-chip companies including Goldman Sachs and General Electric. And it leaves Buffett equipped to pounce should he find attractive companies to acquire. Berkshire in January completed its acquisition of Pilot Travel Centers. It has been building stock positions in recent years in five Japanese trading companies. Buffett wrote in his February letter that Berkshire’s unrealized gain from the five was $8 billion at the end of 2023.But Buffett has admitted that finding really big deals to make is a challenge.Haruki Toyama, head of large-cap and midcap equity and portfolio manager at Madison Investments, which owns Berkshire shares, said it could make sense for Buffett to think about broadening the range of investments he would consider.Annual meeting attendees check out the booth for BNSF Railway, one of Berkshire’s many companies. PHOTO: DAVID WILLIAMS/BLOOMBERG NEWS“They’re getting to the point where they’re so big, if he’s constantly waiting for the elephant to bag—that’s his phrase—we think it’s going to get tougher and tougher,” Toyama said. “We do think he has to make some decisions about, OK maybe my A-plus opportunities aren’t there and I have to be OK with an A-minus opportunity.”Berkshire has used some of its cash to buy back its own shares, increasing remaining shareholders’ stakes in the company. Berkshire spent $9.2 billion in 2023 to repurchase shares, up from $7.9 billion in 2022, according to its annual reports. Some shareholders like that Berkshire can use its spare cash to ramp up those repurchases.“If the market were to become weak, we think they have incredible firepower to support their own stock by buying back stock,” said VanCronkhite at Allspring Global Investments.One event that could someday jolt the stock: When Buffett dies or steps back from running Berkshire. Buffett has given no indication that he would consider retiring.Henry Asher, president of The Northstar Group, which counts Berkshire as its largest holding, says it is possible the next generation of Berkshire management may not be quite as adept as Buffett at moving cash among subsidiaries to put the money to its best use.“But there’s an awful lot of room to do very, very well and not be as spectacular as Buffett as a capital allocator,” Asher said. “It’s like, would you stop listening to music because Beethoven died?”","news_type":1},"isVote":1,"tweetType":1,"viewCount":546,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":301995476250744,"gmtCreate":1714748785120,"gmtModify":1714748788882,"author":{"id":"3576157343730083","authorId":"3576157343730083","name":"Dr Rck","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576157343730083","idStr":"3576157343730083"},"themes":[],"htmlText":"Brace for an impact that is coming soon! What goes up must come down. For a little while.","listText":"Brace for an impact that is coming soon! What goes up must come down. For a little while.","text":"Brace for an impact that is coming soon! What goes up must come down. For a little while.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/301995476250744","isVote":1,"tweetType":1,"viewCount":244,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}]}