Every year, investors look forward to flocking to Omaha to attend the annual Berkshire Hathaway meeting, where owner and CEO Warren Buffett discusses the company’s moves and his thoughts on the finance space. Because Buffett is the most famous investor in history, thousands flock for what many call an event you can’t miss, especially if you are a shareholder.
When it comes to Berkshire’s activity, the conglomerate had their busiest quarter in the stock market, purchasing $41 billion worth of stocks. Companies like Chevron and Occidental Petroleum saw their stake in Berkshire’s holdings increase, and they also disclosed an increased 9.5% stake in Activision Blizzard, which is about to be acquired by Microsoft in a record deal. Overall, Berkshire hasn’t bought this much stock since the 2008 recession, which is impressive as Buffett was publicly telling investors to buy up stock in his “buy low” campaign. One piece of criticism that Buffett had for Wall Street was their creation of a “gambling parlor” with all of the speculative trading, which is a concern he has had for the past few years. He continued to stay skeptical of cryptocurrencies despite a shift in sentiment, saying that it doesn’t provide anything tangible. This was met with some controversy, especially Elon Musk who mocked him on Twitter. Most importantly, it looks like Buffett and Munger will continue to hold the throne for more years to come despite their successor already selected, and in today’s time and the future Berkshire and their ideologies will become the minority belief in the markets as growth investing and cryptocurrencies are becoming increasingly popular.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.