The first few months of 2022 have been a very difficult period for most offshore investors – especially those invested predominantly in equities for long-term growth. January 2022 started with a “correction” in the US markets, followed by the invasion of Ukraine a month later.
Since early March, China’s cases of Covid-19 have been increasing. By the end of March, the virus had spread to 29 of China’s 31 provinces and they were placed under varying levels of lockdown. This has caused further tension in global markets after positive signs had been observed from mid-March to mid-April across major market indexes such as the S&P 500 and Nasdaq.
After Russia invaded Crimea in 2014, Warren Buffett said, “The one thing you can be quite sure of is if we went into some very major war, the value of money would go down — that’s happened in virtually every war that I’m aware of. The last thing you’d want to do is hold money during a war”. Buffett started his career in 1942 and has managed money through the Korean War, Vietnam and more recently 9/11 followed by the wars in Iraq and Afghanistan.
With the S&P 500’s worst quarter in two years, Warren Buffet made $41 billion in net stock purchases in the first quarter of the year, the most since 2008. “As long as Buffett and his team are paying reasonable prices for quality companies, these investments should do well in any environment — inflationary or otherwise,” said Darren Pollock, a Berkshire investor who’s a principal at Cheviot Value Management LLC.
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