Warren Buffett “Never Invest in America Against the Way”

Berkshire Hathaway Chairman Warren Buffett said to investors, “never bet against America,” optimistic about the US’s long-term investment prospects.

According to CNBC reports in the US on the 27th (local time), President Buffett said in an annual letter to shareholders that day, “During the short 232 years of existence, no incubator has allowed people to reach their full potential as much as the United States.”

Chairman Buffett continued, “Even with some serious hindrances, the development of the US economy was stifling. Our firm conclusion is to never invest in the US against the contrary.”

He added, “Success stories are spread all over the United States. Since the founding of our country, people with ideas, ambitions, and very little capital have made success stories beyond their dreams by creating new things or improving old things.”

Buffett’s confidence in the US economy is also evident in Berkshire’s assets. In a letter that day, Buffett said that Berkshire Hathaway has the largest number of US assets (real estate, factories, facilities, etc.) in the world.

In terms of actual cost after depreciation, Berkshire Hathaway’s US fixed assets are worth $154 billion (about 173 trillion won), surpassing AT&T ($127 billion).

However, Berkshire Hathaway’s performance last year was sluggish due to the aftermath of Corona 19. Berkshire Hathaway’s annual net profit in 2020 was $42.5 billion (about 48 trillion won), down 48% from the previous year. In the fourth quarter alone, net profit increased by 23% compared to the same period last year, showing a recovery trend.

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