From Elon Musk and Ray Dalio, several big names have warned of the destabilization threats made against the U.S. dollar. Warren Buffett quickly dismissed such concerns, however, with the Berkshire Hathaway CEO stating, “I see no option for any other currency to be the reserve currency” at his company’s annual shareholder meeting.

Nobel Prize-winning economist Paul Krugman agreed with Buffett, explaining that a desire from some parties to remove the dollar from its position of power will not be enough to destroy the greenback’s world standing.

“Tugging on one or two strands of this web isn’t likely to cause it to unravel,” Krugman explained. “Even if some governments express a desire to see payments conducted in other currencies, it’s not at all clear they can make that happen.”

Bank of America and Goldman Sachs analysts have also sided with Buffet and Krugman, explaining that there is no other currency that can currently compete with the dollar.

The post Warren Buffett, Paul Krugman Dismiss De-Dollarization Concerns appeared first on theprimarymarket.com.

In response to the bank’s failure in early March, U.S. officials made the controversial decision to protect all existing account holders including those who held deposits exceeding the $250,000 limit imposed by the Federal Deposit Insurance Corporation.

“I can’t imagine anybody saying I’d like to be the one [on] television tomorrow and explain [to] the American public why we’re keeping only $250,000 insured and we’re going to start a run on every bank in the country and disrupt the world’s financial system,” Buffett revealed during Berkshire Hathaway’s annual meeting on Saturday.

Following the start of the banking crisis, Buffett decided to pull back his banking investments. He criticized the banking sector for not sufficiently punishing the culprits of misdeeds.

Berkshire Hathaway’s banking portfolio suffered in the first quarter as a result of the financial sector’s instability, with its Bank of America stake declining by $4.7 million during the first three months of the year.

The post “Catastrophic” to Let SVB Depositors Lose Money, Buffett States appeared first on theprimarymarket.com.

In a recent interview with the Japanese finance publication Nikkei, Buffett revealed that “geopolitical tensions” surrounding the region were a significant consideration in the company’s decision to end its ties with TSMC. While Buffett went on to praise TSMC for good management, he also added that there are better places for Berkshire to invest its money.

Berkshire made the $4.1 billion investment in TSMC in June and September of 2022 but offloaded more than 86 percent of shares by the end of the year. It still owned 8.3 million shares in early 2023. 

Buffett had his chat with Nikkei while visiting Japan, where Berkshire made significant additions to its portfolio. According to Business Insider, the conglomerate increased its stakes in Japanese companies Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, with a combined value of its positions being estimated at $14 billion.

According to Buffett, Berkshire intends to keep adding to its stakes in the future and hopes to expand the partnership in other ways.

“We don’t think it’s impossible that we will partner with them at some point in the future in a specific deal,” Buffett explained.

The post Warren Buffett Explains Why Berkshire Hathaway Unloaded Its TSMC Stake appeared first on theprimarymarket.com.

Perhaps the biggest thing to take note of is the fact that although he could spend roughly endless amounts of cash, he’s famous for adopting a budget mindset and promoting the same to his fans.

Indeed, he told college students in a speech that “the biggest mistake is not learning the habit of saving properly.” He places a strong emphasis on the idea of habit and how hard it can be to break out of a bad one once you’re in a routine.

“Most behavior is habitual,” said the 91-year-old businessman. He also added another small dose of wisdom, saying that “they say that the chains of habit are too light to be felt until they are too heavy to be broken.”

Buffett’s words ring true on so many levels. Habits have a tendency of creeping up on us without us even realizing them. In that sense, they seem very light and benign at first. However, it’s only when we start to realize how they’ve affected us, for better or worse, that we realize how hard they are to shake.

The trick, according to Buffett, is to train ourselves to have productive habits instead of bad ones.

The post Warren Buffett Advises Not to Make This Money Mistake appeared first on theprimarymarket.com.

From Elon Musk and Ray Dalio, several big names have warned of the destabilization threats made against the U.S. dollar. Warren Buffett quickly dismissed such concerns, however, with the Berkshire Hathaway CEO stating, “I see no option for any other currency to be the reserve currency” at his company’s annual shareholder meeting.

Nobel Prize-winning economist Paul Krugman agreed with Buffett, explaining that a desire from some parties to remove the dollar from its position of power will not be enough to destroy the greenback’s world standing.

“Tugging on one or two strands of this web isn’t likely to cause it to unravel,” Krugman explained. “Even if some governments express a desire to see payments conducted in other currencies, it’s not at all clear they can make that happen.”

Bank of America and Goldman Sachs analysts have also sided with Buffet and Krugman, explaining that there is no other currency that can currently compete with the dollar.

The post Warren Buffett, Paul Krugman Dismiss De-Dollarization Concerns appeared first on theprimarymarket.com.

In response to the bank’s failure in early March, U.S. officials made the controversial decision to protect all existing account holders including those who held deposits exceeding the $250,000 limit imposed by the Federal Deposit Insurance Corporation.

“I can’t imagine anybody saying I’d like to be the one [on] television tomorrow and explain [to] the American public why we’re keeping only $250,000 insured and we’re going to start a run on every bank in the country and disrupt the world’s financial system,” Buffett revealed during Berkshire Hathaway’s annual meeting on Saturday.

Following the start of the banking crisis, Buffett decided to pull back his banking investments. He criticized the banking sector for not sufficiently punishing the culprits of misdeeds.

Berkshire Hathaway’s banking portfolio suffered in the first quarter as a result of the financial sector’s instability, with its Bank of America stake declining by $4.7 million during the first three months of the year.

The post “Catastrophic” to Let SVB Depositors Lose Money, Buffett States appeared first on theprimarymarket.com.

In a recent interview with the Japanese finance publication Nikkei, Buffett revealed that “geopolitical tensions” surrounding the region were a significant consideration in the company’s decision to end its ties with TSMC. While Buffett went on to praise TSMC for good management, he also added that there are better places for Berkshire to invest its money.

Berkshire made the $4.1 billion investment in TSMC in June and September of 2022 but offloaded more than 86 percent of shares by the end of the year. It still owned 8.3 million shares in early 2023. 

Buffett had his chat with Nikkei while visiting Japan, where Berkshire made significant additions to its portfolio. According to Business Insider, the conglomerate increased its stakes in Japanese companies Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, with a combined value of its positions being estimated at $14 billion.

According to Buffett, Berkshire intends to keep adding to its stakes in the future and hopes to expand the partnership in other ways.

“We don’t think it’s impossible that we will partner with them at some point in the future in a specific deal,” Buffett explained.

The post Warren Buffett Explains Why Berkshire Hathaway Unloaded Its TSMC Stake appeared first on theprimarymarket.com.

Perhaps the biggest thing to take note of is the fact that although he could spend roughly endless amounts of cash, he’s famous for adopting a budget mindset and promoting the same to his fans.

Indeed, he told college students in a speech that “the biggest mistake is not learning the habit of saving properly.” He places a strong emphasis on the idea of habit and how hard it can be to break out of a bad one once you’re in a routine.

“Most behavior is habitual,” said the 91-year-old businessman. He also added another small dose of wisdom, saying that “they say that the chains of habit are too light to be felt until they are too heavy to be broken.”

Buffett’s words ring true on so many levels. Habits have a tendency of creeping up on us without us even realizing them. In that sense, they seem very light and benign at first. However, it’s only when we start to realize how they’ve affected us, for better or worse, that we realize how hard they are to shake.

The trick, according to Buffett, is to train ourselves to have productive habits instead of bad ones.

The post Warren Buffett Advises Not to Make This Money Mistake appeared first on theprimarymarket.com.