Last updated on March 11, 2023
| In his annual letter to shareholders, billionaire investor Warren Buffett expressed confidence in the U.S. economy and his company Berkshire Hathaway, urging investors to focus on the long-term picture instead of short-term factors like inflation. He also defended Berkshire’s $7.9 billion stock repurchase and downplayed the company’s net loss due to volatile stock prices. Despite his success, Buffett remained humble about his investment decisions and praised his friend and business partner Charlie Munger. He also indirectly criticized President Joe Biden’s stance on corporate stock buybacks, saying those who oppose them do not fully understand the economy. |
Complex Terms:
- Shareholders – People or organizations who own shares of stock in a company
- Berkshire Hathaway – The company ran by Warren Buffett
- Stock repurchase – A reacquisition by a company’s own shares
- Bull market – A market where stocks are rising in value
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