【要約①】Berkshire Hathawayの年次総会

Berkshire Hathawayの年次総会のサマリーです。




commission-free trading app Robinhood was feeding off the speculative trading in the stock market and contributing to it. 



Robinhood, who is set to go public this year, attracted a record number of new retail investors over the past year amid the pandemic. Robinhood has been accused by critics of gamifying investing and enticing young and inexperienced investors through its app.





Charlie Munger calls bitcoin ‘disgusting and contrary to the interests of civilization’



Buffett’s right-hand-man called bitcoin a “financial product invented out of thin air.” “Of course I hate the bitcoin success,” Munger said. “I don’t welcome a currency that is so useful to kidnappers and extortionists.” 



Buffett avoided the question on bitcoin because he said he didn’t want to get grief from everyone who is long bitcoin, relative to the few people who are short the digital asset.





Buffett and Munger not worried about potential tax hikes 



Warren Buffett and Charlie Munger said the proposed corporate tax rate hike from the Biden administration would be a negative for shareholders but they are not particularly worried about it and the company will adapt.




“It’s a killer. The SPACs generally have to spend their money in two years as I understand it. If you put a gun to my head to buy a business in two years, I’d buy one,” Buffett said with a laugh. “There’s always pressure from private equity funds.” 




バフェット氏「SPACは厄介者」 総会で投機に警鐘: 日本経済新聞




“That won’t go on forever, but it’s where the money is now and Wall Street goes where the money is,” Buffett said. “SPACs have been working for a while and if you secure a famous name on it you could sell almost anything.” 




“The Modern Monetary Theorists are more confident than they ought to be, too. I don’t think any of us know what’s going to happen with this stuff,” Munger said. “I do think there’s a good chance that this extreme conduct is more feasible than everybody thought. But I do know that if you just keep doing it without any limit it will end in disaster.” 




Buffett said selling some Apple stock last year was ‘probably a mistake’



The “Oracle of Ohama” went on to to say that Apple’s stock is a “huge, huge bargain.” “It is indispensable to people,” Buffett said.



“The part it plays in their lives is huge,” he said. “A car costs $35,000 and I’m sure with some people if you asked them whether they wanted to give up, had to give up, their Apple, they’d give up their car.”

Apple is the largest position in Berkshire’s investment portfolio, in a bet worth nearly $111 billion.







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