Warren Buffett sees ‘Red Hot’ economy with creeping inflation in
(Bloomberg) – Warren Buffett made a clear ruling Saturday on the U.S. economy arising from the outbreak: the red hot “almost a frenzy buy” chairman. An executive at Berkshire Hathaway Inc. spoke during the group’s annual meeting, a meeting held almost out of Los Angeles. “People have money in their pockets and they pay higher prices,”; he said. Buffett noted that the recovery was faster than expected to the Federal Reserve’s swift and decisive aid measures, which kicked 85% of the economy into “very high gear,” he said. Loud and interest rates remain low, many, including Berkshire, are raising prices and having inflation “more than people had predicted six months ago,” he said. Buffett is reunited with friends. And again his longtime business, Charlie Munger, a partner for this year’s meeting, Munger did not attend last year’s conference in Omaha, Nebraska – Buffett’s hometown – due to a nationwide shutdown. Some shareholders were relieved to see the pair answer together again, “I really feel that both Charlie and Warren exhibited a normal and remarkable level of acumen and intellectual energy,” said James Armstrong. Deputy Asset Managers include Berkshire shares as chairman of Henry H, Armstrong Associates Buffett and Munger spent hours answering questions ranging from economy to climate and diversity, SPAC growth, taxes and Inheritance Here’s the cut: Climate pressures: Berkshire faces pressure from two shareholder proposals, one to improve transparency related to climate change efforts. The topic was bound to be a part of the convention – and it was so when asked about the offer, Buffett stuck to his previous stance. He said measures to produce a large-scale report on diversity and climate for his line of business spanning energy to rail, he said “asinine” the proposal was voted on after Buffett. It was also asked about Berkshire’s stake in oil and gas maker Chevron Corp., which it disclosed earlier this year. Buffett said he felt at least “disproportionate” about ownership in the company, which he said has benefited society in many ways as he admits the world is shifting away from hydrocarbons. But people on the tough side of both arguments are “a little nuts,” he said. Greg Abel, president of Berkshire Hathaway Energy, called climate change a “material risk,” he added that they were targeting. And spent $ 18 billion over 10 years on the signaling infrastructure, Killer SPACs: Buffett warned investors that Berkshire may not have a more prominent deal amid the boom in buying companies. “It’s a killer,” Buffett said of SPAC’s influence on Berkshire’s ability to find a business to buy. But the money is now in place and Wall Street is getting where the money is. ”Buffett, 90, also spent part of the Berkshires annual meeting on Saturday, citing the growth of the Berkshires. Retail and intraday trading Lots of people have been entering the “casino” stock market over the past year, he said. Taxes: Buffett said President Joe Biden’s proposal for a corporate tax hike would affect shareholders’ equity. Berkshires He added that antitrust and tax policy laws can change things for companies, but the new tax law will not change its non-dividend policy. Mostly in the meeting on Saturday. But their two top officials, Abel and their insurer Ajit Jain, also attended the stage. Investors can take a closer look at the pair’s top candidates for the event, Munger said, referring to a little post-Buffett year that has generated speculation on social media about the candidate that Buffett is most likely to succeed. The CEO pointed out that decentralization doesn’t work everywhere because there has to be some kind of culture that businesses have to have. “Yes, but we can,” Munker insists, “and Greg will keep the culture.” Considered a long-standing top candidate to replace Buffett, especially since he was promoted to vice president overseeing all non-insurance operations, which gave him the strength to Many responsibilities included overseeing the BNSF, railroad and energy business. Fault: Buffett offered a few mea culpas during Saturday’s meeting. He noted that selling some of Apple Inc.’s shares last year was a mistake, and even said Haven, the healthcare joint venture of JPMorgan Chase & Co. and Amazon.com Inc., thought it was a mistake. But the worms won “that might have been a mistake,” Buffett said of Apple’s stock sales last year. $ 110 billion in iPhone makers at the end of March. “Indeed, Charlie told me you thought it was a mistake as well,” he told Munger, who was on stage with him. Cash Piles: Just before its annual meeting, the company released its first-quarter results, bringing investors a plunge of 19.5% operating profit during the period.Berkshire ended the quarter with a near-record 145.4 of its cash on hand. Billions of dollars as it continues to generate money faster than Buffett can use. But Buffett ended up pulling in some of the funding modifiers during that time. He bought back Berkshire’s stock for just $ 6.6 billion, short of the $ 9 billion record set in the previous quarter and ended up selling the second-highest net stake in the first quarter in nearly five years. Like this Please visit us at bloomberg.com Subscribe now to stay one step ahead with the most trusted business news source. © 2021 Bloomberg LP.