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Warren Buffett said it was not a huge treasury stack so that his successor planned to spend.
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The billionaire joked the fact that he would not do something so “noble” just so that Greg Abel “looks good”.
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The Berkshire Hathaway reserve doubled at more than $ 300 billion in 2024 and reached a record level in the last quarter.
One of the biggest questions suspended on Berkshire Hathaway is why Warren Buffett has built such a large cash reserve.
The famous investor and CEO of Berkshire rejected the idea that he put aside a huge sum of money, cash bills and other liquid assets for his planned successor, Greg AbelTo invest once he left.
“I would do nothing almost as noble as not to invest myself just so that Greg may seem“, He said at the annual meeting of Berkshire shareholders on Saturday, causing laughter of laughter through the crowd.
Berkshire As roughly doubled his cash battery North of $ 300 billion last year, and reached a new record of almost $ 348 billion in the first quarter of this year, the company The gains revealed on Saturday.
A large factor in the wave was the sale by Berkshire of two thirds of its Apple position last year, which had been its biggest portfolio in years. Buffett always CEO of Apple Loué Tim CookWho was only seated a short distance from him in the crowd while looking at the Chi Health Center, where Business Insider looked at the procedures live.
Buffett said that it would gladly spend $ 20 billion, or even $ 100 billion, in the right opportunity if it was a business or other active that offered good value and that they felt comfortable in the long term.
Fig evaluations for public actions, private companies and even Berkshire’s actions have thwarted the value investor in recent years.
The billionaire said he preferred if there were enough good deals, Berkshire would only have $ 50 billion in reserve. But he said that it would be the “most stupid thing in the world” to regularly invest $ 50 billion a year just to reduce the Berkshire treasury stack, because quality purchases only appear occasionally.
He also pointed out that he was perhaps already too active on the market over the years.
“Charlie has always thought that I had done too many things,” said Buffett, referring to his late trading partner, Charlie Munger.
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