It’s a Mistake to be an Anti- Capitalist, know why Buffet said this?

After a strong anticipation throughout this time, finally the Berkshire Hathaway’s second annual meeting was organized virtually on May 1, 2021.

There were some quite important takeaway points made by Buffet and his team in the annual meeting. There are few submissions by Buffet that he thought to be agreeably regretful.

Letter to the Shareholders

Below are the 10 most significant highlights from the Berkshire Hathaway Inc. annual meeting 2021:-

Berkshire’s Profit and Economic Conditions

Opinion on Profit Rates:-

Speaking about the company’s cash and cash equivalents and short- terms investments in the U. S. Treasury Bills, Buffet revealed that it continues to hold a large reserve and that the profit rates are 5% higher in April than in March 2021.

Gruesome Mistakes:-

In the annual meeting, Buffet revealed that he sold some of the Apple Inc. stocks in the past financial year. Regretting on it he said that this recurred losses and that it was a huge mistake. He said that Apple is extraordinary and indispensable when it comes to business and its products.

Economic Stability:-

Redressing another question concerning the economic conditions of the company in these lockdown situations especially around March 2021, Buffet assured that the firm is economically stable although there was not much likeliness to hold the money in the banks.

Buffet’s Opinion on Future Plans

Gambling Problems affect on Berkshire:-

Speaking about the trading app, Robinhood, Buffet marked that such trading apps are just aiding to hike the gambling problems in the market. On this Munger added “..deeply wrong… we don’t want to sell things that are bad for people…[by running lotteries] the states are just as bad as Robinhood…they pushed the Mafia aside.”

Green Energy Production:-

Shareholders asked about green energy transmissions and Berkshire ‘s plans about it . Buffet exclaimed “We have spent far more than other utilities on renewable and transmission,”. He also clarified that it’s a two- way process. Also, Greg Abel specified about Berkshire’s plans to shut down its coal- burning electrical generation plants. He said its going to be executed soon in the years to come.

‘It’s a Mistake To Be Anti-Capitalist’:-

Shareholders also asked  questions concerning anticipated increase in Federal tax on capital revenue and other utilities. Munger quoted “It’s difficult for an empty sack to stand upright.” Curiosity on the capitalism in China was a highlighting concern. Munger replied  “It’s a remarkable shift that China saw what worked in Hong Kong.”

Cryptocurrency Skepticism:-

Answering a question about cryptocurrency in the annual meeting, Buffet in a humorous way said he won’t answer it as it might hurt the sentiment of the stakeholders but Munger opined. “ I don’t welcome a means for paying kidnappers and extortionists.”

After the meeting,  Berkshire continues to be one of the most prominent companies globally.

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khushboo sadani
Khushboo is pursuing her Masters' degree in English from Bhopal. She is a person who believes in turning every single moment of my life into something constructive and fruitful. With a slice of painter and dash of an avid reader, she takes challenges and surprises what life and destiny astonishes her with courage. She believes in living the life to the fullest by finding happiness in small moments.

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