Buffett’s letter also addresses the company’s huge cash stockpile of around $334 billion by the end of 2024, more than double where it was a year earlier. With stock valuations having made acquisitions less attractive, he reiterated the company’s position on investing.

Warren Buffett's annual letter to Berkshire Hathaway is widely read by millions for its clues on his stock holdings, sensible sentiment and sage advice.

Instead, the “Oracle of Omaha” has become a “committed” and “long-term” investor in a handful of Japanese companies.