Warren Buffett is raising concerns about the U.S. economy, warning that the dollar’s stability and purchasing power are vulnerable.
In his annual letter to Berkshire Hathaway shareholders, he cautions that irresponsible fiscal policies can rapidly devalue paper currency, a scenario the U.S. has narrowly avoided in the past. Fixed-income investments, he argues, offer little protection against such risks.
Buffett also highlights flaws in capitalism, noting that while the system remains the most effective at driving economic growth, it has become increasingly prone to abuse.
He acknowledges that throughout history, opportunists have exploited investors, yet the overall impact of American capitalism has far exceeded expectations. Despite financial mismanagement and market disruptions, he believes the country’s economic engine continues to deliver unprecedented prosperity.
Reflecting on his tenure, the 94-year-old investor signals that his leadership at Berkshire Hathaway is nearing its end.
He confirms that Greg Abel is set to succeed him as CEO and will take over writing future shareholder letters. Buffett expresses confidence in Abel’s ability to navigate investment opportunities, continuing the firm’s legacy of strategic decision-making.
Kraken is ramping up its presence in the European crypto derivatives market by activating a regulatory license acquired through a Cypriot investment firm earlier this year.
Binance is seeking to dismiss a $1.76 billion lawsuit filed by the FTX estate, arguing that the legal action is an attempt to rewrite the story of FTX’s own collapse.
Telegram founder Pavel Durov has revealed that he pushed back against pressure from a Western European government to censor political content on the messaging app in the lead-up to Romania’s presidential election.
Michael Burry, the contrarian investor made famous by The Big Short, is once again shaking up markets with a bold repositioning of his hedge fund’s portfolio — this time, leaning heavily into pessimism.