Investors around the globe are waiting to hear from Warren Buffett, along with his right-hand man Charlie Munger, following a flurry of investment activities.
. Not only featuring hours of commentary from the legendary duo, this renowned event will also include exhibits of Berkshire's wide range of holding companies — from ice cream maker Dairy Queen to insurer Geico and battery maker Duracell.
The macroenvironment has grown increasingly difficult for investors this year as the Federal Reserve rushes to tame down 40-year-high inflation with aggressive tightening. Meanwhile, fears of a recession have crept in after a so-called yield-curve inversion and weak prints in economic data. Not to mention that the U.S. is still not out of woods with the pandemic.
Before the recent buying spree, Buffett had been a net seller of stocks for the past five quarters as he saw few bargains among surging equities.A big driver for Berkshire's outperformance over the past year has been its aggressive buybacks. The company repurchased a record $27 billion worth of its own shares last year.
There was evidence that a reduction has already started. Berkshire used $6.9 billion to buy back shares in the fourth quarter, slower than the $7.6 billion repurchased in the third quarter. Buffett's annual letter revealed that the conglomerate bought back $1.2 billion of its own stock through Feb. 23.Berkshire's investments lately only made a small dent in his $140 billion-pus war chest, leaving Buffett watchers wonder if a major investment is on the horizon.
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