Berkshire Hathaway

Buffett's Shareholder Letter: Will always invest the vast majority of funds in stocks, last year the value of traded stocks held fell to 272 billion dollars

ChainCatcher news, according to Jinshi reports, Buffett published his annual shareholder letter, in which he mentioned that the value of tradable stocks held last year decreased from $354 billion to $272 billion, but the value of non-listed equity holdings increased and remains far above the value of the tradable stock portfolio. We will always invest the vast majority of their funds in stocks—mainly U.S. stocks, although many of these companies have significant international operations. Berkshire will never be more inclined to hold cash equivalents and give up holding equity in quality businesses, whether controlling or partial stakes.In 2024, Berkshire's performance exceeded expectations, despite 53% of its 189 operating companies reporting a decline in earnings. Due to the increase in U.S. Treasury yields, there was a significant increase in holdings of these highly liquid short-term securities, resulting in a foreseeable substantial increase in investment income.Berkshire has been continuously increasing its borrowings denominated in yen, but not following any fixed pattern. All borrowings are at fixed rates, with no "floating rate" borrowings. There is no forecast for future foreign exchange rate trends, thus striving to maintain a nearly neutral position in terms of currency.
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