Berkshire Hathaway CEO and legendary investor Warren Buffett supposes that “sharpening your skills and working to be at the top of your field” may help people survive in difficult economic situations.
The billionaire believes that useful skills acquired in the process of fruitful work are the best protection against inflation. “If you have a skill that is in demand, it will remain in demand no matter what the dollar is worth,” Warren Buffett pinpointed.
In recent months, Berkshire Hathaway Inc has obtained stocks worth $41 billion and dramatically increased its stake in Chevron. Warren Buffett says that now his company owns a whopping 9.5% of video game giant Activision Blizzard. Notably, the investment fund bet on the producer of video games after Microsoft's acquisition was announced.
However, the largest investment was made in stocks of shale producer Occidental Petroleum Corp. Thus, Berkshire Hathaway committed a $10 billion preferred stock investment in Occidental Petroleum.
Warren Buffett advises investors to remain stuck to their strategy regardless of surging inflation. “The best investment by far is anything that develops yourself, and it’s not taxed at all.”
He also thinks that it is important to put money in companies that produce goods, which will always be in demand. For example, Coca-Cola is expected to produce the drink despite the US dollar fluctuations. “It doesn’t make any difference what’s happened to the price level,” Buffett said. The fact is that people will still pay for the products they like.