The billionaire investor went on his biggest stock buying spree for at least a decade, undeterred by the geopolitical turmoil and fears of runaway inflation.
Now, as war and inflation fuel market volatility prompting the S&P 500 Index’s worst quarter in two years, he’s ramped up amid the uncertainty, making $41 billion in net stock purchases in the first quarter.
On the home front, Berkshire let up on one of its key capital deployment levers, signaling buybacks aren’t quite as attractive to the firm right now.
Berkshire’s stake in Chevron, which totaled nearly $4.5 billion at the end of 2021, hit $25.9 billion at the end of March, according to its first-quarter regulatory filing.
Scarce explicit comments were made on Russia’s invasion of Ukraine, though Buffett did address a question about the risk of nuclear weapons.
Buffett confirmed last year that Greg Abel, the vice chairman in charge of non-insurance operations, was the top candidate to succeed him when he steps down as chief executive officer.
CEO Jim Weber acknowledged the effects on his business, which makes running shoes, but expressed some optimism that the supply challenges and inflation pressures that have weighed on the economy will lessen.
And when it normalizes, I think all of this capacity challenge in the supply chain is going to go back to normal.
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