Every year, the financial world looks forward to Warren Buffet’s annual comments like a Thanksgiving dinner gathering, where insightful nuggets are shared. 2021 was the second year it was done in a remote format, but the goodies are still as good.
For me though, one thing stuck out more than the rest: Berkshire Hathaway stayed in a relatively high cash position throughout the pandemic recovery. This is what happened to me as well.
For the longest time, I felt silly and almost doubted myself when I see other younger investors going all in on March 2019, and making so much from it.
Although my portfolio panned okay, as I was overweight Technology (US and China Tech), before the Covid 2019 event. I did not expect the recovery to be so quick, and in hindsight it “seemed obvious” with Governments flushing massive cash into the system.
My focus was to err on the side of Cash going into an uncertain recession/ market environment.
It feels nice to know that I was not alone in that decision.
P.s.: Of course I paraphrased the annual meeting, do read it all up here - https://sg.finance.yahoo.com/news/berkshire-hathaway-annual-meeting-2021-live-updates-220309349.html