Warren Buffett will publish his annual letter to Berkshire Hathaway Inc. shareholders on Saturday morning, marking one of the few times investors have heard from the world’s most famous investor during a turbulent time for the U.S. economy amid the Covid-19 pandemic.
The Omaha, Neb., company will also release its fourth-quarter earnings report.
During the pandemic, Mr. Buffett hasn’t made any major acquisitions and has largely shunned statements on the state of the economy. His annual letter, however, is likely to provide significant insight into how the chief executive and chairman of Berkshire sees the economy and markets from here.
Despite being largely quiet for the past year, Mr. Buffett hasn’t been inactive. Here are eight moves the conglomerate made—and didn’t make—since the pandemic took hold that could shed light into what he plans to address on Saturday.
1. Said adieu to air travel
Last spring, Mr. Buffett announced that Berkshire sold all its stakes in U.S. airlines—including United Continental Holdings Inc., American Airlines Group Inc., Delta Air Lines Inc. and Southwest Airlines Co. —suggesting he sees a tough road ahead for the commercial-airline business model. “The world changed for airlines,” he said at the annual meeting in May.