Why Warren Buffett Sold Bank Stocks EXCEPT Bank of America? | Berkshire 2023
Delve into the fascinating world of banking as Warren Buffett and Charlie Munger share their candid insights on the business models of big banks versus regional banks. Explore the impact of events at Silicon Valley Bank and the perceived implicit guarantee of all deposits. Discover the story of Berkshire Hathaway's involvement in the banking sector and their regretful divestment due to regulatory changes. Gain valuable perspectives on the future of banking and the challenges faced in an ever-changing landscape. Don't miss this eye-opening discussion!
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This speech is given by Warren Buffett & Charlie Munger at Berkshire Hathaway Annual General Meeting on May 6, 2023.
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☆Who is Warren Buffett (The Oracle of Omaha)?☆
Warren E. Buffett is one of the most successful investors in the world and the chairman & CEO of Berkshire Hathaway, who has a net worth of over 100 billion dollars. Warren Buffett's Berkshire Hathaway has posted average annual returns of 17.1% since 1985, well ahead of the broader stock market’s 10.5% including dividends. If you’d invested $10,000 in Berkshire Hathaway at the start of 1985 you’d now have $2.4 million; the same principal in the S&P 500 would now be worth about $227,000.
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Why Warren Buffett Sold Bank Stocks EXCEPT Bank of America? | Berkshire 2023
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