April 12, Berkshire Hathaway (Berkshire Hathaway) founder, known as the "stock god" Warren Buffett (Warren Buffett) gave a media interview。In the interview, he responded to recent hot issues and provided an analysis and outlook on the current economic situation.。

First of all, he responded to the recent concerns about the "BYD reduction incident."。He said that during the sale of BYD, BYD's sales performance was excellent, and the reason for selling BYD shares was "for better capital allocation."。

According to the Hong Kong Stock Exchange on April 11 disclosure documents show that on March 31, the stock god Buffett's Berkshire Hathaway (Berkshire Hathaway) sold a total of 2.48 million shares of BYD shares.。This is the fourth reduction this year and the tenth since August 2022.。

In addition, he said that Berkshire Hathaway will not sell the Apple stock it owns, and that it was "stupid" to sell Apple stock in small quantities for tax reasons.。Apple CEO Tim Cook is one of the greatest managers in history.。

Secondly, for the recent "banking storm" in the United States, Buffett said that although the banking storm is not over, but people should not panic about the safety of the banking industry or deposits.。

Buffett says more U.S. banks may fail in the future, but savers never have to worry。He noted that if necessary, the U.S. government could step in to support all depositors in all U.S. banks.。Although he noted that such acts do require congressional approval, he is confident that Congress will permit them.。Should such an event occur, he expects Congress will even adjust the debt ceiling to avoid the country's financial woes.。

In this regard, he pointed out that the market need not worry about whether the government will worry about retreating because the cost of the bailout is too high, because the cost of the Federal Insurance Corporation (FDIC) is not borne by the government, but by the banks themselves.。He stressed again that no one would lose money on a deposit in a U.S. bank, which is not going to happen, and he was even willing to "bet $1 million" on it.。

For the huge risks implied by the banking industry, he suggests that the risk lies in the long-standing "mismanagement" of assets and liabilities by the banking industry.。He said the accounting practice of allowing banks to mark their holdings to maturity rather than to market was partly to blame, prompting management to focus on higher yields, leading to repeated temptations for bigger spreads and more returns.。

On the 10th of last month, Silicon Valley Bank collapsed after a run on its liquidity crisis.。This once triggered a banking crisis in Europe and the United States, and then regulators quickly intervened, two marginal banks were helped, First Republic Bank received a $30 billion deposit injection, and Credit Suisse's merger with UBS was progressing.。

Earlier media reports said Buffett had a conversation with President Biden's team about the U.S. banking crisis and gave advice and guidance on the current crisis。Since 2008, he has bailed out Bank of America and Goldman Sachs in crisis。

In fact, Buffett and the bank have always had an "indissoluble bond."。In the 1930s, Buffett's father lost his job and savings after the bank failed.。In addition, Buffett was once known for his heavy holdings in bank stocks, and Berkshire's portfolio still involves a number of financial institutions, with Bank of America being one of its top five heavy holdings。

However, Buffett has been actively selling his bank shares since 2020, but only for Bank of America。Referring to Bank of America, its only heavily held bank stock today, Buffett said, "I like Bank of America's CEO Brian Moynihan very much (Brian Moynihan), I just don't want to sell it.。"

Finally, he also discussed some of the recent hot topics.。

On the AI side of the recent flare-up, Buffett said he doesn't have any expertise in AI, but thanks to Bill Gates, he tried the popular chatbot ChatGPT.。He was shocked by the power of ChatGPT, but he "spat" in passing, saying that one of the limitations of ChatGPT is that it can't tell jokes.。

Excited, Buffett also expressed concern about the technology, saying that it's an incredible technological advance from the point of view of demonstrating human capabilities, which is extraordinary, but I don't know if it's beneficial to humans。

Referring to his successor, Greg Abel, the "stock god" is pleased to say that Abel has taken over most of his responsibilities at the conglomerate, where he presided over a series of important deals during his more than 20 years of work.。

On May 3, 2020, in an interview with the U.S. financial media CNBC, Buffy admitted that the directors agreed that Greg Abel, vice chairman of Berkshire's non-insurance business, would take over as CEO if he stepped down.

In public, Buffett never seems to be stingy with his own admiration for the successor。As early as 2013, Buffett said, "When Greg calls, I always take the time because he can bring me great ideas, and his thinking and business approach is really innovative.。"