Input 2021.02.28 00:59 | Revision 2021.02.28 06:00
Buffett explained that Berkshire Hathaway is the world’s largest US-owned company. After depreciation, Berkshire Hathaway’s fixed assets in the US are $154 billion (approximately KRW 170 trillion).
However, Berkshire Hathaway’s performance last year was found to have been sluggish due to the aftermath of the coronavirus infection (Corona 19). Berkshire Hathaway’s annual net profit was $42.5 billion (about 48 trillion won) last year, down 48% from 2019. Looking at the fourth quarter of last year alone, net profit increased by 23% from the fourth quarter of 2019, showing a recovery trend.
Chairman Buffett also assessed that the world’s ultra-low interest rates have made the bond market less attractive. The yield based on 10-year U.S. Treasury bonds fell from 15.8% in September 1981 to 0.93% at the end of 2020. “The bond market is not a place these days,” said Buffett.
Meanwhile, Chairman Buffett announced that the Berkshire Hathaway regular shareholders’ meeting held on May 1 will be held in Los Angeles, California. This is the first time a shareholders’ meeting has been held outside Omaha, Nebraska.