At his final shareholder meeting as CEO of Berkshire Hathaway, Warren Buffett delivered a wide-ranging and candid address, balancing optimism for the U.S. economy with deep concerns over America’s fiscal direction, currency stability, and global trade stance.
In a significant departure from past comments, Buffett raised the possibility that Berkshire might diversify into foreign currencies, signalling that the long-term stability of the U.S. dollar is no longer taken for granted. “There could be things happen in the United States that make us want to own a lot of other currencies,” he said, referring to fiscal mismanagement and potential geopolitical shifts. A major foreign investment, particularly in Europe, could also push Berkshire to finance in local currencies—a shift from the dollar-centric approach that has defined Buffett’s career.
Buffett’s remarks come amid heightened global anxiety, spurred by:
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Soaring U.S. deficits
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Protectionist trade policies
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Rising geopolitical tensions
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A divided world order with nuclear-armed players
While still voicing faith in the American economic engine—calling the U.S. “the best place in the world to be”—Buffett did not shy away from warning about self-inflicted damage. He lambasted the Trump administration's tariff-heavy trade strategy without naming the former president directly. “Trade should not be a weapon,” he said, bluntly equating tariffs with acts of war. His comments came shortly after the U.S. levied 145% tariffs on Chinese imports, triggering retaliatory measures from China.
Buffett was especially critical of the “we won” mentality in U.S. foreign policy, warning that alienating the global majority could make the world more dangerous, especially when nuclear weapons are involved. “It’s a big mistake,” he said, “when 7.5 billion people don’t like you very well.”
In his economic philosophy, Buffett reiterated that global prosperity helps the U.S., rather than threatening it. Open markets and international goodwill, he argued, are not zero-sum. “The more prosperous the rest of the world becomes, the more prosperous we'll become—and the safer your children will feel,” he said.
On the investment front, Buffett reaffirmed his preference for stocks over real estate, suggesting equities remain the most dependable long-term asset class. He noted that real estate can be a complicated asset, particularly in times of financial stress.
The event also marked a major leadership transition: Buffett formally passed the CEO baton to Greg Abel, Berkshire’s Vice Chairman for non-insurance operations. While Buffett remains as Chairman, the handover caps decades of speculation about his succession.
In essence, Buffett used his final CEO appearance to deliver both a farewell and a warning: celebrate America’s strengths, but don’t ignore its vulnerabilities. His voice, as ever, blended shrewd financial insight with a broader concern for global stability, diplomacy, and long-term vision.
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