LIVE: Warren Buffett talks his Japan bets and the outlook for Berkshire Hathaway
also touted his massive bets on five Japanese companies, hailed Tim Cook and Apple, and said he was impressed by ChatGPT and similar artificial-intelligence tools.Buffett famously guzzles Coca-Cola, munches McDonald's, slurps Dairy Queen Blizzards, and feasts on See's Candies. His diet hasn't changed much while visiting Japan, he says, noting he's drinking Coke during the conversation, and ate Hershey's Kisses earlier that day.
Buffett also questions whether streaming companies will be able to raise prices, and says even traditional movie distribution isn't fundamentally that great a business.The Berkshire chief says he's aware of Apple's reliance on China, but suggests the typical Apple buyer wouldn't accept $10,000 to give up their iPhone.
Buffett notes that Berkshire only kept two stocks out of the roughly 27 owned by Alleghany when it acquired the insurer last year. Those two stocks were Berkshire and Apple.Buffett says he was responsible for building a $4 billion stake in Taiwan Semiconductor in the third quarter of 2022, then selling 86% of it over the next three months.
Buffett suggests bitcoin's longevity reflects speculation, a strong gambling instinct among humans, and more people wanting to buy in then get out. "People love the idea of getting rich quick, and I don't blame them," Buffett says."I've always wanted to get rich slow and have a lot of fun along the way.""I think it's something that I don't understand at all," Buffett says about ChatGPT and similar artificial-intelligence tools. He recalls Bill Gates showing him the technology, and that he was impressed by its capabilities.
Buffett says he loves figures, and has been looking closely at See's Candies sales across different states. He also says that hiring an economic forecaster is throwing money away.Buffett says Occidental Petroleum CEO Vicki Hollub is an"extremely competent, good citizen for America," noting she understands oil and political realities."She is extremely concerned with ways to have carbon capture.
"It's fun sending money out to people if you want to stay in office, if you want their vote," Buffett says when asked whether too much government spending was a driver of inflation.Buffett praises the Federal Reserve, saying he doesn't believe he could do as good a job as Fed Chair Jerome Powell. The investor applauds the US central bank for taking decisive action in the spring of 2020 to shore up the economy at the height of the COVID-19 pandemic.
Buffett calls out questionable accounting among banks designed to flatter their earnings. He notes that nobody was talking about the dangerous trend of disguising losses.Buffett suggests Berkshire sold a bunch of bank stocks because their bosses got greedy."I don't like it when people get too focused on the earnings number and forget banking principles," he says.
"When the tide goes out, you learn who's been swimming naked. We actually ran into a nudist colony here, in terms of banks all over do that sort of thing." "It's my job to think about risks that nobody else thinks about," Buffett says."I've got 99% of my net worth in Berkshire, I've got all my relatives in, I've got everybody in. If I thought that I wasn't going to be able to do a better than decent job of managing the risk, I'd be crazy to take on that responsibility."
Berkshire famously has a decentralized, autonomous structure with a very small headquarters and scores of effectively independent subsidiaries. Buffett notes that while his managers enjoy their autonomy, they also get"lonesome" and Abel has bolstered communications with them.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Buffett says people shouldn't worry about Berkshire, banksBillionaire Warren Buffett assured investors Wednesday that Berkshire Hathaway will be fine when he's no longer around to lead the conglomerate because Vice Chairman Greg Abel will do a great job and the conglomerate's basic model won't change.
Weiterlesen »
Warren Buffett-backed BYD announces new shock absorption tech for premium EVsElectric vehicle giant BYD is banking on new driver-assist technology to smooth out car rides and get the edge on its EV competition.
Weiterlesen »
Warren Buffett considering additional investment in Japanese stocks – NikkeiJapan’s media outlook, the Nikkei Asian Review, is citing that Warren Buffett is considering additional investment in Japanese stocks, per Reuters. Ad
Weiterlesen »
Buffett says he holds 7.4% stake in five Japanese trading houses, including Itochu, Nikkei reportsBerkshire Hathaway Inc's Warren Buffett is considering additional investment in Japanese stocks and said he holds a 7.4% stake in each of five Japanese trading houses, including Itochu Corp , the Nikkei reported on Tuesday.
Weiterlesen »
Japanese trading houses rise as Warren Buffett says he plans on buying moreBuffett said he was 'very proud' of these investments and that he plans to meet with the companies to emphasize Berkshire Hathaway's support.
Weiterlesen »
Buffett says he holds 7.4% stake in five Japanese trading houses, including Itochu-Nikkei By Reuters*WARREN BUFFETT SAYS HE HOLDS 7.4% STAKE IN FIVE JAPANESE TRADING HOUSES, INCLUDING ITOCHU - NIKKEI 🇯🇵🇯🇵
Weiterlesen »