5 highlights are:
- Warren Buffett defended 3G Capital and Kraft Heinz in cutting unnecessary people to improve productivity and grow economy.
- Wells Fargo’s reputation has been hurt in the short run, but earnings power will not be hurt in the long run.
- Buffett is not currently buying Google and Amazon, but he is more likely to buy them than short them.
- The most important variable in determining market valuation is interest rates. The market is “dirt cheap” if interest rates remain at current levels for next 10 – 20 years.
- Charlie Munger advocates a single payer system for health care similar to Canada and Europe.
Article by Dr. David Kass
Welcome to our latest issue of issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring hedge fund assets near $4 trillion, hedge funds slash their exposure to the big five tech companies, and Rokos Capital's worst-ever loss. Read More