Berkshire Hathaway rushes to deny false claims that Warren Buffett endorsed Trump’s trade policies
A video posted by X user @AmericaPapaBear has been viewed 2 million times and shared by President Donald Trump on his Truth Social account. The clip includes a doozy of headline — “Trump is Purposely CRASHING The Market” — and one allegation that has Berkshire Hathaway rushing to correct the record on behalf of its chairman and CEO.
“This is why Warren Buffett just said Trump is making the best economic moves he’s seen in over 50 years,” the video says.
Berkshire’s response: “There are reports currently circulating on social media (including Twitter, Facebook and Tik Tok) regarding comments allegedly made by Warren E. Buffett. All such reports are false.”
In his 1997 shareholder letter, Buffett did point out that, if you expect to be a buyer of stocks, you should be happy when share prices fall:
“A short quiz: If you plan to eat hamburgers throughout your life and are not a cattle producer, should you wish for higher or lower prices for beef? Likewise, if you are going to buy a car from time to time but are not an auto manufacturer, should you prefer higher or lower car prices? These questions, of course, answer themselves.
But now for the final exam: If you expect to be a net saver during the next five years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. In effect, they rejoice because prices have risen for the ‘hamburgers’ they will soon be buying. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.”
But... that’s not remotely close to the claim being proffered by @AmericaPapaBear.
Among the wealthiest people in the world, Buffett stands out as having seen his net worth increase since Trump’s second term began, in contrast to the fortunes of major tech kingpins.
Berkshire’s response: “There are reports currently circulating on social media (including Twitter, Facebook and Tik Tok) regarding comments allegedly made by Warren E. Buffett. All such reports are false.”
In his 1997 shareholder letter, Buffett did point out that, if you expect to be a buyer of stocks, you should be happy when share prices fall:
“A short quiz: If you plan to eat hamburgers throughout your life and are not a cattle producer, should you wish for higher or lower prices for beef? Likewise, if you are going to buy a car from time to time but are not an auto manufacturer, should you prefer higher or lower car prices? These questions, of course, answer themselves.
But now for the final exam: If you expect to be a net saver during the next five years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. In effect, they rejoice because prices have risen for the ‘hamburgers’ they will soon be buying. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.”
But... that’s not remotely close to the claim being proffered by @AmericaPapaBear.
Among the wealthiest people in the world, Buffett stands out as having seen his net worth increase since Trump’s second term began, in contrast to the fortunes of major tech kingpins.
