In a recent update, Warren Buffett’s investment powerhouse, Berkshire Hathaway, has increased its investment in several key Japanese trading companies. Buffett’s firm now holds a 7.4% stake in Mitsubishi Corp., Mitsui & Co., Itochu, Marubeni, and Sumitomo.
In his annual letter to shareholders released on Saturday, Buffett shared insights into his enduring investment philosophy. He emphasized his preference for stocks over holding cash, despite Berkshire’s significant reserves. Buffett also took the opportunity to praise Greg Abel, his chosen successor, highlighting Abel’s sharp eye for investment opportunities and drawing parallels to the late Charlie Munger, who was renowned for his financial acumen.
This move underscores Buffett’s confidence in these Japanese conglomerates, reflecting a strategic vision that goes beyond mere cash accumulation. His backing of Abel further demonstrates a commitment to ensuring Berkshire’s long-term stability and growth with a seasoned and capable individual at the helm.
