Here we go againPlaytoearnandroidcryptogamesAt the moment of the global focus on Berkshire Hathaway's shareholders' meeting, Buffett's speech and views will most likely attract the attention of the world. What will be the highlights of Berkshire's annual shareholders' meeting to be held in Omaha on May 4? In this regard, Mr. Zhou Jing, assistant general manager of Warburg Fund with rich investment experience in the international investment field, fund manager of Warburg overseas Technology LOF (501312) and fund manager of Warburg NASDAQ Select (017436), issued a more comprehensive and insightful view.
Zhou Jing pointed out that this Berkshire Hathaway shareholders' meeting will be the first shareholder meeting in history without Charlie Munger, who, as Buffett's most important partner, played an important role in explaining the company's business and investment strategy. Munger's opinions and views often complement Buffett's. For Buffett personally, Munger is also his most loyal ally and important adviser, and the two have a deep friendship and cooperative relationship that has lasted for decades. Munger's departure will undoubtedly pose a challenge for Buffett and Berkshire. While shareholders remember Munger at the shareholders' meeting, they will also pay more attention to the handover and strategy of the new generation of leadership.
In addition, Buffett significantly increased his investment in Japan in 2023 and continued to increase his holdings of Japan's "five major trading houses". Looking back on the operation, Japanese stocks rose sharply just after Buffett announced his position to raise the bet on Japan. As a result, the investment has also yielded a generous return, which can be said to be a very successful bottom-copying. Japan's "big five trading houses" are relatively in line with Buffett's investment framework of high dividends and high cash flow, and Buffett has said he plans to hold these assets for 10-20 years. What are the reasons why Buffett should be optimistic about this kind of assets for such a long time? Zhou Jing believes that these are also very worthy of investors' attention.
Zhou Jing said that the third highlight of the shareholders' meeting was the forecast of the future economy and interest rates. At present, the US economy and interest rate policy are in a period of change, and the strong economic recovery will even affect the Fed's original decision to cut interest rates. Looking back, what is the state of the US economic recovery? Will inflation be a long-term problem? Will the Fed cut interest rates as scheduled? Will the market trade more to re-inflate-lower interest rates and postpone pressure, or will the logic of recovery rise again? These are also hot spots in the market, and at this event, investors may be able to get new clues from Buffett, who likes to talk about the US economy.
In addition, many investors are confused about whether U. S. stocks are overvalued and what direction they should buy in the future. Recently, both the S & P 500 and the Nasdaq have reached new highs and are now in a pullback. What is the follow-up market outlook? Will the technology stocks represented by Nvidia reach new highs? Which of the following sectors will lead the way? will they still be technology stocks? Zhou Jing believes that at this shareholders' meeting, Buffett, who has always said that he "does not understand" technology stocks, the market may be able to hear a different point of view.
At the same time, Mr. Zhou Jing also pointed out that Warren Buffett's investment in the oil and gas industry is an important issue in the field of financial investment. He has made significant investments in the oil and gas industry many times through Berkshire Hathaway (Berkshire Hathaway) at the helm of the company. Buffett began to buy a large number of shares in Western oil companies since 2022, becoming one of the major shareholders of the company. This investment includes not only the direct purchase of common shares, but also through the holding of preferred shares and the purchase of warrants. The investment shows Buffett's confidence in the long-term potential of the oil and gas industry. At this shareholders' meeting, it is believed that shareholders will also focus on Buffett's views on the oil and gas industry, as well as subsequent investments.
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