PANews reported on February 22 that according to Jinshi, Buffett published his annual shareholder letter, which mentioned that the value of tradable stocks held last year fell from US$354 billion to US$272 billion, but the value of non-listed controlling stakes held increased and is still much higher than the value of the tradable stock portfolio. We will always invest the vast majority of their funds in stocks - mainly US stocks, although many of these companies will have important international businesses. Berkshire will never prefer to hold cash equivalent assets and give up holding equity in high-quality companies, whether it is a controlling stake or a partial stake.
Berkshire has outperformed expectations in 2024, even though 53% of the 189 operating businesses reported earnings declines. Investment income has increased significantly, predictably, due to higher U.S. Treasury yields, which have significantly increased holdings of these highly liquid short-term securities. Berkshire has been increasing its borrowings denominated in yen, but not following any fixed pattern. All borrowings are fixed-rate, with no "floating-rate" borrowings. No predictions are made about future foreign exchange rate movements, so an approximately neutral position is sought with respect to currencies.

