World-renowned investor, entrepreneur A According to CNBC News At Berkshire Hathaway’s Annual General Meeting, she resurrected her longstanding advice that the most effective defense against inflation is to build our skills and put our skills at the forefront of our profession.
The best we can do in an inflationary environment is to be exceptionally good at something.
He cited professions such as doctors and lawyers as examples. People “offer some of what they make for what we know,” Buffett said.
he added:
Skills are inflation-resistant, unlike currency.
If we have a skill that is in great demand, it will continue to be in demand even if the dollar loses its value. He said that our value-added capabilities cannot be taken away from us, nor can they be affected by inflation.
The best investment is about developing ourselves, and you don’t even have to pay tax on it
he added.
In 2009, at the end of the Great Depression, Buffett also revealed what he thought was the second best thing one could do: invest in a company that produced products in demand no matter how the dollar performed. One example is Coca-Cola.
(Cover photo by Warren Buffett on March 13, 2007. Photo: Chip Somodevila/Getty Images)
