巴菲特访谈摘要
关税是经济上的战争行为 …… 它是货物税。在经济学中，你总是得问这个问题：然后呢？
"Tariffs are actually … an act of war to some degree," Buffett said.
"Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em!" Buffett jokingly said. "And then what? You always have to ask that question in economics. You always say, 'And then what?'"
我管理的钱绝大多数都在美国。为什么？因为美国是最好的地方！我庆幸自己生于斯。
"A majority of any money I manage will always be in the United States," Buffett said. When asked why that is, he responded, "It's the best place! I was lucky to be born here."
尽管伯克希尔的现金头寸非常高，但你们的大部分资金仍然投资于股票。这一偏好不会改变。尽管我们去年在可交易股票的所有权从3540亿美元减少到2720亿美元，但我们非上市控股股票的价值有所增加，并且远远超过了可交易组合的价值。
伯克希尔的股东可以放心，我们将永远把大部分资金投资于股票——主要是美国股票，尽管其中许多将有重要的国际业务。伯克希尔永远不会优先持有现金等价物，而是会优先持有良好的业务，无论是全资控股还是部分所有权。
"Despite what some commentators currently view as an extraordinary cash position at Berkshire, the great majority of your money remains in equities," he said. "That preference won't change. While our ownership in marketable equities moved downward last year from $354 billion to $272 billion, the value of our non-quoted controlled equities increased somewhat and remains far greater than the value of the marketable portfolio."
"Berkshire shareholders can rest assured that we will forever deploy a substantial majority of their money in equities – mostly American equities although many of these will have international operations of significance. Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good businesses, whether controlled or only partially owned," Buffett wrote.
https://www.cbsnews.com/news/warren-buf ... ne-graham/
https://www.foxbusiness.com/politics/wa ... snt-pay-em