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Berkshire Hathaway’s Shareholder Meeting Held Online As Scheduled: Buffet And Munger Answered Questions For Over Three Hours, But Refused To Discuss Bitcoin

Munger he hated Bitcoin’s success and thus refused to discuss bitcoin in Buffet's shareholders meeting held recently

Sunday, 2 May 2021

/ by Ella Rose
Berkshire Hathaway’s shareholder meeting was held online as scheduled. Warren Buffett and Charlie Munger answered Question for three and a half hours.

When asked how to evaluate Bitcoin, Buffett declined to discuss the topic. He said that neither Munger nor I hold Bitcoin, and he doesn't want to answer this question to make everyone unhappy.

Munger said bluntly, "I hate the success of Bitcoin. Bitcoin is like a financial product born out of thin air. I don't like virtual currency kidnapping the existing currency system. This is contrary to the development of our civilization."

For popular retail stock trading artifacts such as Robinhood, Buffett said that Robinhood has become a very important part of the gambling property of the stock market in the past year or a year and a half. Robinhood claims that it is commission-free and attracts many people who want to gamble. Robinhood software is not illegal. But it's not about morality. The way gamblers bet is not a way I respect, but is "collecting taxes on hope." Munger said that he didn't like this business and that this kind of thing was a serious mistake.

Global Trends America learned that Berkshire will return to profitability in the first quarter of 2021. In the first quarter, revenue was US$64.6 billion, compared with US$61.265 billion in the same period last year, an increase of 5.44% year-on-year; net profit in the first quarter was US$11.71 billion, or earnings per share of US$7,638, and a net loss of US$49.75 billion in the same period last year, or loss per share. 30653 US dollars.

The company, Berkshire repurchased $6.6 billion of stock in the first quarter, continuing the aggressive repurchase strategy that began last year.

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