Warren Buffett Expresses Optimism, Saying "US Economic Momentum Will Return" Despite Losses

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Warren Buffett, Chairman and CEO of Berkshire Hathaway, reportedly remained optimistic about the economic outlook despite losses caused by the U.S. stock market downturn last year, local media reported on the 25th (local time).

In his annual letter to Berkshire Hathaway shareholders that day, Buffett stated, "Although the U.S. economy may falter at times, we still expect favorable tailwinds," adding, "Momentum always returns."

He noted that during his 58 years running Berkshire Hathaway, he has benefited from the dynamism of the U.S. economy and urged his fellow citizens, "Do not struggle with self-criticism and self-doubt."

Buffett said, "There has never been a reasonable time to invest against America in the long term," and added, "Those of you reading this are unlikely to have a different experience in the future."

However, Berkshire Hathaway's disclosed results for last year showed a net loss of $22.8 billion (30 trillion KRW) due to declines in the stock prices of some investments, including Apple. Nevertheless, Berkshire Hathaway recorded an all-time high operating profit of $30.8 billion (40.6 trillion KRW), excluding investment valuation losses from last year.

Additionally, following a large sale of shares in Taiwanese semiconductor company TSMC at the end of the year, the company's cash holdings as of the end of last year amounted to $128.6 billion (169.5 trillion KRW).