Buffett: Current Environment Not Ideal for Berkshire's Capital Deployment

BlockBeats News, May 3rd, Buffett said in an interview with CNBC: "In terms of deploying Berkshire's funds, the current market environment is not our ideal one." Buffett stated that Berkshire has an excellent management team that can seize opportunities and patiently wait for suitable targets.

Berkshire Hathaway held its annual shareholder meeting on May 2nd — this was the first meeting since Warren Buffett handed over the CEO position to Greg Abel earlier this year. Prior to the meeting, Berkshire's latest financial report showed that its cash reserve had reached a record high of nearly $400 billion.

Buffett said that while it may appear to outsiders that Berkshire is sometimes inactive, the reality is that it will take action actively at the right time. He admitted that the reluctance to heavily invest capital is partly due to the overall high market valuation. When asked when would be the right investment timing, Buffett said that it would be when "no one is willing to pick up the phone," indicating that the opportunity will naturally arise.