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.
億萬富翁禾倫·巴菲特的伯克希爾·哈撒韋公司（NYSE:BRK）在第二季度出乎許多觀察家的意料，出售了伯克希爾在蘋果公司（NASDAQ:AAPL）的大部分股票。
Berkshire Hathaway's balance sheet is now substantially weighted to United States treasury bills.
伯克希爾·哈撒韋的資產負債表現現在主要傾向於美國國債。
The Data: According to Berkshire's most recent filing, the Omaha, Nebraska-based company now owns $234 billion in treasury bills.
數據：根據伯克希爾最近的報告，這家總部位於內布拉斯加州奧馬哈的公司現在擁有2340億美元的國債。
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.
這比美國聯邦儲備委員會1950億美元的國債儲備還要多。美國央行近年來逐漸縮減了資產負債表。
It is also more than several countries, including Brazil, Germany and Mexico.
這還比巴西、德國和墨西哥等多個國家的國債儲備要多。
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，伯克希爾持有970億美元的國債，仍然是一筆鉅款，但是不到今天的一半。該公司的股票自那時以來升值了20%以上。
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What's Next: Buffett's strategy with his large cash pile is unclear.
接下來的計劃：巴菲特在處理大量現金後的策略尚不清楚。
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.
巴菲特可能會擔憂在諸多重要監管障礙之中蘋果的前景。它對人工智能的未來使用仍然不清楚。伯克希爾在蘋果的持倉仍然是公司最大的持倉，但自2023年底以來下降了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.
從更大的範圍來看，巴菲特可能對美國經濟持看淡態度。衰退的擔憂已經加劇，市場自今年夏季以來經歷了 顯著的回落。
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現金以防止未來大型收購。這位內布拉斯加州的土著人一直是支持利用市場低迷時進行大規模投資的擁躉。他的許多收購都讓市場大爲吃驚。
Regardless, the nonagenarian is taking advantage of the high interest rate environment — over 5% — and delivering operating profit growth to shareholders.
無論如何，這位老人正在利用高利率環境（超過5%），並向股東提供開多的營業利潤增長。
Also Read:
還閱讀：
- Warren Buffett's Approach To Investing In Election Years
- 禾倫·巴菲特在選舉年投資的方法
Image created using artificial intelligence via Midjourney.
圖像由Midjourney通過人工智能創建。