Buffett shareholder letter: Will always invest most of the funds in stocks, and the value of tradable stocks held last year dropped to $272 billion

PANews February 22nd news, according to Jinshi, Buffett published an annual shareholder letter, which mentioned that the value of the tradable stocks held last year dropped from $354 billion to $272 billion, but the value of the non-listed controlling equity held is increased, and still far higher than the value of a tradable stock portfolio. We will always invest the vast majority of their funds in stocks—mostly U.S. stocks, although many of these companies have important international operations. Berkshire will never be more inclined to hold cash equivalent assets and give up holding equity in high-quality enterprises, whether it is controlling equity or partial equity.

In 2024, Berkshire performed better than expected, although 53% of 189 operating companies reported a decline in revenue. Investment returns have achieved a foreseeable significant increase in investment returns as U.S. Treasury yields have significantly increased holdings in these high-liquid short-term securities. Berkshire has been continuously increasing borrowings denominated in yen, but not following any fixed pattern. All borrowings are fixed interest rates, and there is no "floating interest rate" loan. There is no prediction of future foreign exchange rate trends, so we strive to maintain an approximately neutral position in terms of currency.