New Berkshire Hathaway CEO Greg Abel is directing his first major investments toward international companies. This strategy departs from predecessor Warren Buffett’s famous advice to never bet against America.
Abel is pivoting because the U.S. stock market is currently considered historically expensive. These high valuations make it difficult for the firm to find its signature value-oriented opportunities.
The move signals a potential new era for the investment giant’s capital allocation. Berkshire may increasingly prioritize overseas growth over the domestic focus it maintained for decades.