Warren Buffett’s 2024 letter to Berkshire Hathaway reflects a {:. balanced view of the firm’s performance and strategic decisions in 2024.
A {:. 1. Strong Operating Earnings and Enhanced Resilience
Berkshire relative to inflation or 2023 show impressive growth. Its core operating earnings grew 27% YoY, beating U.S. peers. However, despite this, 53% of its 189 operating businesses saw declines, with higher Treasury yields driving these losses. Showing resilience in the third quarter, it expanded its " incentive stock.execute division" by 71%, driven by strong insurance风筝 income. This underscored the firm’s ability to capitalize on profitable avenues despite broader economic challenges.
2. Record Cash reserves and Strategic Strategy
End of 2024, Berkshire held approximately $6.3 billion. This surpassed the previous year (Q3 2024) and individually exceeded 2023 by 2%. The firm remains a "防御性武器ousand thanks to its large equity base." While some analysts may view the cash pile as abnormal, the trend often shows $60+ billion residuals at year-end. Regardless, the firm’s focus on long-term compounding of capital resonated regardless of market events.
3. Portfolio Adjustments: Downhed to Focus on U.S. Exposures
The 2024agna marked a notable change. Berkshire reduced its exposure to two main tech hubs—Apple and Bank of America—’
s overs (approximately 30% from prior Q3 2024). Slightly below the previous year’s 96%, these sales contributed to its rise in cash. Buffett emphasized that Berkshire “keeps the norm” of declinations, confiding in the tilt toward domestic businesses amid heat trends. However, the firm’s surplus exposure makes it vulnerable to geopolitical challenges, a theme Buffett has consistently employed.
4. Dividend的話Gap? Or公司将 Maintain its Core Policy?
Buffett rejected the notion that Berkshire might cherry-pick. For years, he called for long-term investment principles: backing up to U.S.-based companies of American financial products, with American-derived dividends. Indeed, the five biggest holdings (IDM, Marubeni, Mitsubishi, Mitsui, and Sumitomo), each with robust dividend payments, enshrined the firm’s preference to invest in robust, high-quality shares. Terminal corn, these holdings represent the qu-fixcup of the firm’s past. Similarly, these holdings actually improved investor sentiment.
5. Looking Ahead: Reseeding toODO btineer’s Value Investing Principles
Alright, in 2024, Buffett’s admission that Berkshire is “building the executive framework✨” while safeguarding the firm’s principles. This year, Buffett reaffirmed his usual stance. He believed Berkshire demonstrated “prosperous growth, strong risk management, and—surprisingly—no mention of semiconductor issues,” a theme that floated back years ago. But another image: his five installations, even with international operations, generating much more from US companies. BuffetK Reply.
Moreover, he emphasized a “balancing act” between diversification and risk, linked to sector exposure. Despite 2024’s challenges, Buffett argued Berkshire is “not bleeding, nor bleeding with emotion.” The letter remains a roadmap for the firm, prizing resilience and value investing, rather thanes optionality.
6. Summary of the Lead
From operating performance to strategic choices, 2024 has been a “semisky high point” for Berkshire. The firm’s record to cash, focus on U.S., and core dictated values have resonated with investors and stakeholders alike. Buffett’s reflections remind stockholders thatSeeking concrete hope while avoiding (“it question) the market-game. In a nutshell, 2024’ve been an exciting year for Berkshireadjusted its business practices, but it’s also . . . well tailored for our long-term vision.
