Warren Buffett gave his first extensive interview since stepping down as CEO of Berkshire Hathaway, sharing candid views on Apple, inflation, charity, and global risks. Despite retiring, he remains deeply involved in daily market activities, coordinating closely with new CEO Greg Abel.
Apple Stake: Regret Over Early Sales, but Huge Profits
Buffett acknowledged selling some Apple shares too soon as the stock climbed, calling it a mistake in hindsight. However, he emphasized that Berkshire still made substantial profits from its initial Apple investment. He added that he would consider buying Apple again if the stock price drops significantly, signaling his long-term confidence in the tech giant.
Inflation and the Fed: Zero Inflation Advocated
Buffett expressed strong concerns about the Federal Reserve's 2% inflation target, arguing it erodes purchasing power and harms savers. He advocated for zero inflation to better protect ordinary people's savings. While praising Fed Chair Jerome Powell's decisive pandemic actions, Buffett called the 2% goal "too costly" for long-term investors and savers.
Charity Lunch Returns with Stephen Curry
Buffett announced the resumption of his charity lunch, this time featuring NBA star Stephen Curry. Proceeds will benefit the Glide Foundation and Curry's Eat. Learn. Play. Foundation. Buffett noted that Curry's involvement would attract younger audiences to philanthropy. The event marks the first such lunch since 2019.
Global Risks: Nuclear Proliferation as Top Threat
Turning to geopolitics, Buffett highlighted the spread of nuclear weapons, specifically mentioning Iran and North Korea. He warned that the increasing number of nuclear-capable countries raises the risk of accidental conflict or miscalculation. Buffett predicted a high probability of nuclear weapons being used within the next 100 years, calling it the most serious long-term threat to humanity.
This interview underscores Buffett's enduring influence in finance, macroeconomics, and philanthropy. His candid remarks on Apple, inflation, and nuclear risks are likely to spark further debate among investors, policymakers, and the public.