According to his annual letter to Berkshire Hathaway shareholders, not even the great Warren Buffett was immune to pandemic-induced market volatility. Berkshire Hathaway’s 2020 earnings were down 48% compared to 2019. For the year, Berkshire Hathaway’s stock rose 2.4%, a relatively small ROI by Mr. Buffett’s lofty standards.
Reading Mr. Buffett’s thoughts on his company’s performance and our country’s economy always gives my team at Keen Wealth lots to think about as we’re fine-tuning our own outlook for the year ahead. Additionally, as we discuss on today’s show, Mr. Buffett has some significant insights about building long-term wealth that stand in sharp contrast to the GameStop mania that could be distorting how a generation of young investors view the markets.
