“Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate,” says American investor Warren Buffett. Warren Buffett is closing in on 60 years in managing Berkshire Hathaway. At 92, the American investor is the world’s fifth-wealthiest person . Ahead of Berkshire Hathaway’s annual shareholder meeting, Buffett and Charlie Munger, vice chairman for the company, release a letter for shareholders . While it includes detailed financial data, it’s also full of advice for business owners of all types. CEOs must manage risk. “Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate,” Buffett writes. Always stash cash. Buffett says Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. “We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” he writes. Not every decision needs to be a homerun. Buffett says Berkshire’s satisfactory results have been the product of about a dozen truly good decisions. “That would be about one every five years,” he writes. Ignore the weeds. Buffet’s lesson for investors: “The weeds […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
