Bafit (left) and Mange

Apple is really love

Prepared by Liu Jiayi

The question-and-answer annual Shareholders’ Congress in Berkhirkhawi, known as the “Black of the Investment Sector”, was held on the evening of 6 May in Beijing. About five and a half hours of question-and-answer sessions, 92-year-old “they” Bafit and its brand — 9-year-old Mang responded to nearly 50 investors.

The General Assembly of Shareholders is unique. On the one hand, the age of Bafit and Mange has been increased by 191 years, with two “two” referrals, one less; on the other hand, the crisis in small and medium-sized banks is sweeping, and the arsenic effects of the generation of AI have been blown from the silicon valley to the Leaving. In the context of the financial crisis, in parallel with the AI shock, investors have never been so eager to listen to the “smart” of the prophet of Omaha.

With regard to the banking crisis, Bafit believed that there was no need for undue fear among ordinary people. “I feel that the depositors will not lose their money, but the bank’s supervisors will be punished and the losing point.”

At the same time, he believed, however, that banks should be held prudently as investors. “The then turmoil in 2008 changed everything, so we are very cautious about this phenomenon and about the existence of banks.”

Compared to prudential treatment of investment banks, Bafit directly denied AI. “AI can do a lot, but it will not make a mockery.” On the other hand, with regard to the rapid pace of development under AI, Bafit feels some concern, because he feels that human beings are “in no way to fully control it”.

Bafite has little interest in investing in AI, but it is “very foolish” for apples that are part of the scientific and technological industry and even simply for selling a small portion of apples’ shares two years ago.

The investment of apples is one of the most important decisions in recent years. Since 2016, Bafit has continued to invest more than $36 billion in the construction of silo apples, which are currently marketed at over $150 billion, accounting for almost half of the market value of the stock held in Berkhir.

Yes, the attitude of apples is as low as that of Bafit in a wave such as the fire. At the recent apples conference, Kuk stated that there was no evaluation of the AI product development road map.

Indeed, in the context of the current age of Bafit and the previous investment style, its position on the AI opposite is not surprising, and his suspicion is even pre-empted by AI.

“As a large investment, Bafit has been known for value investment and long-term investment. His evaluation might be relatively cautious with regard to the handicrafts under way.” When we ask how the Bafit views artificial intelligent technologies, Notion AI answer based on GPT-3 technology.

At the opening of the Shareholder Assembly, Bafit briefly reviewed the performance of Berkhir during the first quarter of this year.

During the first quarter of the year, the Berkshir battalion received $853.9 million, an increase of 20.5 per cent over the same period; the net profit of $35.5 billion, an increase of 53 per cent over the same period, with investment and derivative gains of $34.75.8 million, representing a deficit of $197.8 million over the same period last year.

Compared to the volatile net profits, Bafit would prefer shareholders to focus on business profits. During the first quarter of this year, the business profits of Berkhir, including the full-funded subsidiary profits, amounted to $8,065 million, an increase of 12 per cent.

At the same time, however, Bafit warned that, as a result of the economic downturn of the past six months, most operations would be less profitable this year than last year. “The company has experienced many fluctuations in the past few months, the worst since the Second World War”, Bafit said, “We many managers feel more surprised about this and say how much stock can be done”.

The first issue was related to the current crisis in small and medium-sized banks. Investors asked how Bafit evaluated the Silicon Bank, saying that if the deposits of the Silicon Valley Bank were not secured, it would have a disastrous impact; it was not conceivable that anyone would allow the United States not to raise the debt ceiling and risk breaching the world financial system.

However, during the follow-up question-and-answer session, Bafett expressed cautious optimism about the situation, and he did not think that there was a need for general depositaries to be overly concerned about the banking sector. As an example of Bafit, when his father lost his job at the beginning of the Great Depression due to the bank’s crowding out, the present generals do not have to fear bank deposits because of the existence of the Federal Creditor (FDIC).

Despite the fact that the Federal Deposit Insurance Corporation pays 100 per cent of all deposits, there is concern that this phenomenon should not occur in Bafite. “The politicians, institutions and the media have done a very bad job in conveying information.”

On the other hand, Bafit reminded investors of prudent bank holdings, while Mange stated directly that the current bank “haves increasingly as speculative, gambling” as the investment bank.

In the last four quarters of the year, the Bank Unit in Bafit was almost siloed, with dozens of public banks and bank payments, and currently the Bank Unit in Bafit was left with only one American bank.

The cash reserve in Burkhir was the market’s precipitation, and since the beginning of the year it had increased by $2 billion to $136 billion. In addition, during the first quarter of this year, Bafit sold $13.2 billion in shares, buying only $2.8 billion. This means that uncertainty can only increase or decrease, whether in the banking sector or in the market as a whole.

In addition to the banking crisis, another major issue of concern to investors is AI.

Starting at the end of last year, the cowardly effects of the ChatGPT are global. On the one hand, there has been a sharp increase in the investment of the companies concerned, with a five-year increase in Microsoft equity and a direct doubling of the equity value of one supplier, and on the other hand, other industry practitioners have felt an unprecedented crisis, with the first major strike in 15 years of the Leaving drama.

In this technological change, joy and anxiety have coexisted, and investors are eager to be able to wait for the “cothese” that has undergone several scientific and technological changes.

In response, the first to take the floor was Mango, who first confirmed the importance of new technologies, but expressed doubts about the current Afghan heat. “I think that the use of the robotics will be increasing globally if you go to the factory in Biyadi, China, to see the robotics everywhere, and that the rate of use is very high, and I feel that the machine’s use will be increasing globally.”