InvestorQ : Can you share some key takeaways from the Berkshire Hathaway AGM last week?
vaishnavi mhatre made post

Can you share some key takeaways from the Berkshire Hathaway AGM last week?

Answer
image
vidhya Laxmi answered.
1 month ago
Follow

Any Berkshire AGM becomes a Warren Buffett affair and this time was no different. Here are some key takeaways from the Buffett AGM.

· When fund managers globally are over enthusiastic about buying equities, Buffett prefers to sit aide holding $145 billion in cash.

· Buffett still thinks that the best way is to invest in your own business so Berkshire has done $20 billion of buybacks in the last one year.

· Buffett felt he was right in exiting airlines a tad early. In his view, had he stayed invested in airlines, rescue package would not have come due to the backing of Berkshire.

· They are not too charitable about new-fangled ideas SPACS and Bitcoins, unless they make markets more meaningful.

· Buffett thinks SPACs force fund managers to deploy cash within 2 years while Bitcoins are still a haven for misuse. He is not comfortable with either.

· Buffett and Charlie are emphatic that Robin Hood platforms that offer free trades are just a recipe for people to gamble and lose their capital.

· Good old Buffett wisdom, management quality is still paramount. For long term investors, it is quality of management that matters more than anything else.

· There was little talk on succession. While Greg Abel is virtually the next in line, it is not clear when that would happen.

2 Views