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Warren Buffett finally shared what he thinks of the prices.
The famous investor and CEO of the Portfolio Company of Multinational Conglomerates Berkshire Hathaway (BRK.B) spoke of American commercial wars on Saturday, describing them as “big error” during the annual meeting of the company’s participation at the Chi Health Center in Omaha, Nebraska.
“Trade should not be a weapon,” said Buffett. He also said that “trade could be an act of war”.
“The United States has won. I mean, we have become an incredibly important country, from nothing 250 years ago, there is nothing like it,” said Buffett.
Buffett has shot applause when he added: “(America) should do what we do best and they should do what they do best.”
Throughout the release of the results, the company warned that the prices have made its prospects uncertain. Berkshire has published his quarterly report, where he said that prices could have a negative impact on his growth.
“Changes under macroeconomic conditions and geopolitical events, including changes in international trade policies and prices, can negatively affect our operating results and the values of our investments in action securities and our operating activities,” said Berkshire on Saturday in his quarterly note. “We are not currently able to reliably predict the nature, the calendar or the extent of the potential economic consequences of these changes or the impacts on our consolidated financial statements.”
Berkshire’s operating profits fell 14% for the first three months of the year. His insurance subscription company made $ 1.33 billion in the first quarter, a decrease of almost 50% compared to the first quarter of 2024, when the conference subscription arm of the conglomerate generated nearly $ 2.6 billion.
The “Oracle of Omaha” arrived at the event, which is shown live on CNBC, with heavy security and after Berkshire’s actions reached a record on Friday. The event attracted the former candidate for the Democratic presidential president Hillary Clinton, the CEO of Apple Tim Cook and the former CEO of Microsoft, Bill Gates.
Speaking from the weekend event nicknamed “Woodstock for capitalists”, the long-awaited comments of Buffett are developing as concerns develop concerning markets and economics. The main clues in recent weeks have plunged, bonded and rebounded in all directions in relation to uncertainty about the radical prices of President Donald Trump and the effects they may have on the global economy.
Buffett, 94, should discuss his succession plans. He has been with Berkshire since his training in 1965.
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Buffett addressed Berkshire sitting on silver treasures. The company has around $ 347 billion in cash, compared to $ 334.2 billion at the end of 2024.
Buffett said Berkshire will possibly find places to invest his money, but no soon.
“It is very unlikely that it will happen tomorrow,” he said. “This will not happen in five years.”
“We have made a lot of money in it is not fully invested at any time,” said Buffett. “We do not think that it is inappropriate in fact, for people who are passive investors just to make some simple investments and sit for their lives. But we have made the decision to be in the company so that we think we can do a little better than to behaving very irregularly. ”
He addressed the importance of avoiding making impulsive investments.
“If you told me that we had to invest, let’s say that we had about $ 40 billion a year to come … if you told me that we had to invest $ 50 billion” until we reach $ 50 billion – it would be the most stupid thing in the world to invest in this way, “said Buffett.
He also mentioned that he had almost invested $ 10 billion, but refused to discuss what assets.
At the start of the event, Buffett gave a rare and special cry to Apple’s Cook, who was sitting on the ground with other main stakeholders and guests.
“Tim Cook made a lot more Berkshire money than I never made a Berkshire,” said Buffett when Cook was standing from his seat in the crowd.
Berkshire Hathaway has major participations in five companies: American Express, Bank of America, Coca-Cola, Chevron and Apple. But a large part of the investment value of Berkshire Hathaway is based on Apple, which was estimated at nearly $ 70 billion at the end of September 2024, according to the Berkshire third quarter report.
“No one other than Steve could have created Apple, but no one other than Tim could have developed it as he did,” said Buffett, adding that credit was due to the company. Buffett said Cook had done a “wonderful work” during Apple execution.
Berkshire reduced his participation in Apple by almost 50% in the second quarter of 2024, bringing his participation from 790 million shares to 400 million. It was a rare decision for Buffett, known for preserving actions for long periods.
Buffett minimized recent market volatility.
“What happened during the 30, 45 days … is really nothing,” he said.
The S&P 500 ended Friday at 5,686.67 after the fence at 5,675.12 on March 17.
“It was not a dramatic bear market or anything,” said Buffett.
This is a story in development and will be updated.
