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Buffett States Berkshire Hathaway Strategy Unchanged in Wake of Fitch Downgrade

GLOBAL
  • In a statement released to CNBC, Warren Buffett states that Berkshire Hathaway's strategy has remained unchanged following the Fitch downgrade of the US sovereign rating, leaving their approach to both the US Dollar and US Treasuries intact.
  • On Buffett's pre-existing views on the dollar and treasuries before the Fitch downgrade, he noted back in June that "There is no option for any reserve currency other than the US Dollar" and has previously made predictions that the USD will remain the world's reserve currency out 'til 2065.
  • His fund has generally been steering clear of equities over the past few quarters, even following the 2022 pullback in the S&P500, leaving cash reserves at Berkshire Hathaway building.
  • In his statement to CNBC, he added that they bought $10bln in US Treasuries both this week, and last week - therefore not changing their strategy in response to the Fitch downgrade.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsBerkshire Hathaway B Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsBerkshire Hathaway B Market News

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