伯克希尔投资巨亏超366亿？巴菲特年会十大金句来了！

Core Insights - Berkshire Hathaway reported a significant decline in net profit for Q1 2025, with a net profit of $4.603 billion, down 64% year-over-year, and an investment net loss of $5.038 billion, compared to a profit of $1.48 billion in the same period last year [1][3] Financial Performance - The cash position of Berkshire Hathaway reached a record high of $347.7 billion, approximately ¥25.283 trillion, by the end of Q1 [3] - The total fair value of equity investments is concentrated 69% in American Express, Apple, Bank of America, Chevron, and Coca-Cola [3] Investment Strategy - The company maintains a cautious approach towards AI investments, opting for a wait-and-see strategy rather than following trends blindly [5] - Berkshire Hathaway emphasizes the importance of patience in investment, stating that good opportunities do not arise every day [7] - The company views cash as a strategic asset, providing a buffer against risks and reducing reliance on external financing [9] Market Perspective - Buffett expressed that trade should not be used as a weapon, advocating for balanced and stable global trade for the benefit of all nations [6] - The company faces challenges due to its size, making it more difficult to find high-return investments [11] Corporate Culture - Buffett highlighted the joy of business as a key motivator, stating that passion for the work is more important than financial gain [7] - The company encourages young investors to prioritize finding the right direction and leadership over initial salary considerations [8] Risk Management - Buffett warned that making incorrect investments is more dangerous than not investing at all, indicating a preference for waiting for better opportunities [12]