Warren Buffett released his annual message to Berkshire Hathaway shareholders. This year, the billionaire remembered his partner Charlie Munger, who died last year, and also gave his assessment of the modern stock market.
He compared it to a casino and noted that today the opportunity to invest in securities has become so accessible that the bottom market practically “lives in many houses and tempts its inhabitants every day.”
In a note posted on the company’s website, Baffekt writes: “For some reason, markets now look a lot more like casinos than they did when I was young.”
The businessman also points out that active participants in the stock market today “are no more emotionally stable or learning better than when they were in school.”
The billionaire is also alarmed by the fact that modern speeds and technologies can cause “instant paralysis around the world” in a matter of hours: “These instant panics don’t happen often, but they happen.”
In the context of these changes, Berkshire Hathaway’s strategy of “not risking a permanent loss of capital” is paying off and allows the company to receive stable income year after year, while having enough free cash in its accounts ( in 2023, for example, there were 167.64 billion dollars).
Author:
Ekaterina Alipova
Source: RB
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