Amid Russia's invasion of Ukraine, the price of crude oil and several necessary commodities have jumped high amid one of the worst humanitarian crises being witnessed in Ukraine. The Western allies have imposed a couple of serious sanctions on Russia including a ban on the imports of oil and gas from the country and the removal of Russian banks from the international SWIFT payment system.
Meanwhile, Berkshire Hathaway chief Warren Buffett is learned to have some suggestions for investors to follow during the crisis period. An old video of the best investor has evolved. It is an extract from his 2014 interview when Russia invaded Ukraine.
Buffett said the value of money surely rises during a major war period and it is advised to hold money then.
Some investors are now more concerned due to the rising inflation and slow down of the growth due to the COVID-19 pandemic. The war has entered into the third month and damages have been done. Even if the war ends now, the economic risks will persist for some time. It is the time to remain defensive.
Buffett started investing at the age of just 14. He is now considered the best investor of all time. He is the chief executive of his company Berkshire Hathaway. His buy and sell strategy is being followed by many. Some of the popular fund managers usually have a look at his financial portfolio.
Meanwhile, the Russian army, tankers and missiles have damaged several key cities and towns of Ukraine. Millions of people are displaced and taken refuge in neighboring countries. Due to sanctions, Europe has started witnessing a shortage of oil and gas. Fuel prices in several countries have increased sharply. This has further ignited the rise in inflation. Experts believe inflation may reach a double-digit figure by the end of 2022.