Buffett Warns Berkshire Remains 'Very Cautious' On Bank Stocks—Even As PacWest And Other Regionals Rally

Berkshire Hathaway chairman Warren Buffett threw cold water on regional bank stocks’ recent rebound during the storied conglomerate's annual meeting this weekend, offering a subpar outlook for the beaten-down industry.Copyright 2023 The Associated Press. All rights reserved.

Buffett’s comments did little to dissuade investors from pouring back into the still-alive but badly maimed regional bank stocks; PacWest and First Citizens led a broader recovery for the group. Berkshire Hathaway is “very cautious” about making investments in banks big or small, Buffett added, citing a lack of understanding among the American public and lawmakers alike about the turbulent situation, which saw flocks of panicked consumers cashing out of regional banks after a handful of seemingly isolated collapses.Despite his short-term cautiousness, Buffett on Saturday said “banks can be a perfectly good investment.” Berkshire Hathaway has a nearly $28.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Buffett says Apple is Berkshire portfolio's best businessWarren Buffett said on Saturday that Apple Inc is a better business than any other in Berkshire Hathaway Inc's portfolio.
Source: Reuters - 🏆 2. / 97 Read more »

Buffett confident in U.S., Berkshire; flags risk of market 'turmoil'Warren Buffett on Saturday offered a vote of confidence in the United States while warning about growing partisanship in Washington, ahead of a looming debt ceiling showdown he said could bring “turmoil” to the global financial system.
Source: Reuters - 🏆 2. / 97 Read more »