股神退休！巴菲特：美国财政策略令我害怕，请慎选不会贬值的货币！

Core Insights - Warren Buffett announced his retirement as CEO of Berkshire Hathaway by the end of this year, marking a significant transition in the company's leadership [1][4] - Buffett expressed serious concerns about the current U.S. fiscal policy and the risks of currency devaluation, urging investors to be cautious in selecting currencies that will not depreciate [1][8] Leadership Transition - Greg Abel, currently the Vice Chairman of non-insurance operations, will succeed Buffett as CEO, while Buffett will remain as Chairman to provide support [4] - Abel emphasized the importance of maintaining the strong values and investment philosophy established by Buffett and Charlie Munger over the past sixty years [4] Financial Position - Berkshire Hathaway's cash, treasury bills, and other short-term investments reached a record high of $347 billion, reflecting a trend of selling more stocks than buying for ten consecutive quarters [5] - In 2024, the company sold over $134 billion worth of stocks, primarily reducing its holdings in Apple and Bank of America, indicating a scarcity of attractive buying opportunities in the current market [5] Economic Concerns - Buffett's warning about U.S. fiscal policy stems from ongoing large fiscal deficits and the potential for currency devaluation, which he perceives as a significant risk [8] - The discussion around "de-dollarization" is increasing globally, with analysts predicting further weakening of the dollar [8] Investment Implications - Buffett's remarks highlight the growing demand for inflation-hedging assets, with gold traditionally seen as a primary option [11] - Despite Buffett's skepticism towards cryptocurrencies, his concerns about currency stability resonate with arguments made by cryptocurrency advocates, particularly regarding Bitcoin's fixed supply as a hedge against inflation [11][12] Future Challenges - Buffett's retirement signals a potential shift in the global asset allocation logic, as he advocates for "currency diversification" amidst declining trust in traditional financial systems [13] - Investors face the challenge of protecting their wealth in a potential currency devaluation era, weighing options between traditional value investments, hard assets like gold, and emerging assets like cryptocurrencies [13]