BMO Capital Market’s main investment strategist Brian Belsi discussed whether the market pullback should be worried about making money for some investors.
Berkshire Hathaway President and CEO Warren Buffett released his annual letter on Saturday, which deferred the company’s record-setting tax payments last year and urged the federal government to spend money.
Buffett recalled how, when he first bought Berkshire Hathway 60 years ago, his long -term business partner Charlie Munger warned him that a big textile business was “led to extinction” , As indicated as inability to pay in profits and pay taxes. Time.
“American Treasury, at all places, was already received a silent warning of Berkshire’s fate,” he wrote. “In 1965, the company did not pay income tax, an embarrassment that was usually strong in the company a decadeSuch economic behavior can be understood for glamorous startups, but it is an eyelid yellow light when it is in a respected column of the American industry. Berkshire was leading to Ash Can. ,
“Fast 60 years ahead and imagine the surprise in Treasury when the same company – still working by the name of Berkshire Hathaway – paid away Corporate income tax more than the US government Sometimes Received from any company – even American Tech Titans took over the command of market values Arabs“Buffett wrote.
Berkshire Hathaway shareholders’ annual letter from Warren Buffett: Read here
Berkshire Hathaway president and CEO Warren Buffett postponed the company’s records in his annual letter. (J. Kempin / Getty Images / Getty Images)
“To be accurate, Berkshire made four payments to IRS last year, which was a total of $ 26.8 billion. It is about 5%. All Corporate America was paid. (In addition, we paid a large amount of amount for income tax to foreign governments and 44 states.) “
Buffett said that over time, the total income tax payment of the company in the US Treasury has reached a total of $ 101 billion, and said that in the last 60 years the company has paid only one dividend, which has its taxable income over time Allows to build the base.
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Price investors, who are known to keep stock over the long term, also postponed their top investments.
“We own a dozen or so large and very large and highly profitable businesses, such as Apple, American Express, Coca-Cola and Moody with domestic names. Earning more returns. “, She said.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| Aapl | Apple Inc. | 245.55 | -0.28 | -0.11% |
| Malevolent | American Express cum. | 295.37 | -8.40 | -2.77% |
| Ku | Coca-Cola Cum. | 71.39 | +1.34 | +1.91% |
| Mako | Moody Corp. | 500.03 | -11.54 | -2.26% |
Buffett discussed the value of capitalism, stating that the faults and abuses are “more egoistic in some cases now” but “” can also do unmatched miracle by other economic systems. “
“This is true, our country at its early stages sometimes borrowed abroad to complement its savings. But, concurrently, we need to save many Americans continuously and then need those saver or other Americans Thi, which is wisely deployed by the country, it must have been moving its wheels.
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“American process No It was always beautiful – there were many crooks and promoters in our country forever who want to take advantage of those who accidentally trust them with their savings. But with such a malfunction – which is made up of full force today – and there is also a lot of capital deployment that eventually provoked due to cruel competition or disruptive innovation, the savings of Americans have saved the quantity of production beyond the dreams of any colonialist. And provided quality. ,
Buffett wrote, “From the base of only four million people – and despite a cruel internal war, raising an American against the other – the US replaced the world into an astronomical eye nap.”
Buffett urged the federal government to spend wisely and ensure a stable currency. (Photo by Kevin Dietsch / Getty Image / Getty Image)
He explained that “Very “Berkshire’s shareholders have participated in the American miracle for dividends in a modest manner. Originally” small, almost meaningless “reconstruction” mushrooms “.
“Berkshire’s activities now affect all the corners of our country. And we are not finished. Companies die for many reasons, but, unlike the fate of humans, old age is not fatal in itself. Berkshire today 1965 today. There is more youth than compared, “he has written.
,HoweverAs Charlie and I have always accepted, Berkshire would not have achieved its results at any place except America, while America would have been with every success, if Berkshire would never be present. ,
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“So thank you, Uncle Sam. Someday your niece and nephews in Berkshire expect you to send big payments compared to you in 2024. Spend it wisely. Take care of many people who take care of their own mistakes For, get small straws in life. Is necessary Both knowledge and vigilance on your behalf, “Buffett wrote.
