Is Warren Buffett Bearish Or Waiting To Pounce? Berkshire Now Owns More T-Bills Than Federal Reserve, Several Countries
Is Warren Buffett Bearish Or Waiting To Pounce? Berkshire Now Owns More T-Bills Than Federal Reserve, Several Countries
Billionaire Warren Buffett's Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK) surprised many observers by offloading a significant portion of Berkshire's Apple Inc (NASDAQ:AAPL) holdings in the second quarter.
亿万富翁沃伦·巴菲特的伯克希尔·哈撒韦公司（NYSE:BRK）在第二季度出乎许多观察家的意料，出售了伯克希尔在苹果公司（NASDAQ:AAPL）的大部分股票。
Berkshire Hathaway's balance sheet is now substantially weighted to United States treasury bills.
伯克希尔·哈撒韦的资产负债表现现在主要倾向于美国国债。
The Data: According to Berkshire's most recent filing, the Omaha, Nebraska-based company now owns $234 billion in treasury bills.
数据：根据伯克希尔最近的报告，这家总部位于内布拉斯加州奥马哈的公司现在拥有2340亿美元的国债。
That's more than the Federal Reserve's $195 billion treasury bill war chest. The U.S. central bank has gradually wound down its balance sheet in recent years.
这比美国联邦储备委员会1950亿美元的国债储备还要多。美国央行近年来逐渐缩减了资产负债表。
It is also more than several countries, including Brazil, Germany and Mexico.
这还比巴西、德国和墨西哥等多个国家的国债储备要多。
Berkshire held $97 billion in treasury bills a year ago, still a mighty sum but less than half of today's mark. Its stock has appreciated over 20% since then.
一年前，伯克希尔持有970亿美元的国债，仍然是一笔巨款，但是不到今天的一半。该公司的股票自那时以来升值了20%以上。
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What's Next: Buffett's strategy with his large cash pile is unclear.
接下来的计划：巴菲特在处理大量现金后的策略尚不清楚。
Buffett could be wary of Apple's prospects amid a sea of significant regulatory hurdles. Its future use of artificial intelligence is still unclear. Berkshire's Apple position is still its largest holding, but down over 50% since the end of 2023.
巴菲特可能会担忧在诸多重要监管障碍之中苹果的前景。它对人工智能的未来使用仍然不清楚。伯克希尔在苹果的持仓仍然是公司最大的持仓，但自2023年底以来下降了50%以上。
On a larger scale, Buffett could be bearish on the U.S. economy. Recession fears have intensified and the market has undergone a significant pullback since the beginning of summer.
从更大的范围来看，巴菲特可能对美国经济持看淡态度。衰退的担忧已经加剧，市场自今年夏季以来经历了 显著的回落。
Alternatively, Buffett could simply be holding cash to forestall a large, future acquisition. The Omaha native has long championed taking advantage of market dips with large investments. Many of his acquisitions come as surprises to the market.
或者，巴菲特可能只是持有现金以防止未来大型收购。这位内布拉斯加州的土著人一直是支持利用市场低迷时进行大规模投资的拥趸。他的许多收购都让市场大为吃惊。
Regardless, the nonagenarian is taking advantage of the high interest rate environment — over 5% — and delivering operating profit growth to shareholders.
无论如何，这位老人正在利用高利率环境（超过5%），并向股东提供开多的营业利润增长。
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Image created using artificial intelligence via Midjourney.
图像由Midjourney通过人工智能创建。