[ad_1]
rssfeeds.usatoday.com
Warren Buffett is “almost certain” that stocks will outperform bonds over time if interest rates and corporate tax rates remain low.
Buffett’s annual letter to shareholders, released Saturday, is a widely watched event on Wall Street and Main Street that covers a variety of topics, including the financial health of his conglomerate to personal finance advice for investors.
The 89-year-old said share prices are subject to fluctuations but added that stocks are still a “much better long-term choice” for investors. Buffett’s latest insights came as Berkshire Hathaway reported Saturday that the company swung to a profit of $29 billion in the fourth quarter.
Coronavirus:How it could affect the products you see – or don’t – in stores
Apple:Tech giant says coronavirus hits home: iPhone sales hurt by impact in China
Investors looking for more details on Buffett’s successor didn’t get any fresh insights. He reiterated that Berkshire was “100% prepared” for the eventual departures of himself and Vice Chairman Charlie Munger, 96.
Buffett said Berkshire’s managers and board members will protect the company after he and Munger are gone.
“We possess skilled and devoted top managers for whom running Berkshire is far more than simply having a high-paying and/or prestigious job,” Buffett wrote. “Finally, Berkshire’s directors — your guardians — are constantly focused on both the welfare of owners and the nurturing of a culture that is rare among giant corporations.”
In 2019, Berkshire earned $81.4 billion, showing strong gains in its stock holdings.
Read Buffett’s annual letter here.
Contributing: Josh Funk, The Associated Pr
[ad_2]
Source link
