I still think of Berkshire Hathaway‘s (BRK.A 0.72%) (BRK.B 1.14%) portfolio as Warren Buffett’s portfolio. The legendary investor’s decision to pass the baton as CEO to Greg Abel hasn’t changed my view in the slightest. After all, Buffett is still Berkshire’s board chairman and its largest shareholder.

Even with Buffett no longer the official public face of Berkshire Hathaway, his fingerprints remain all over the conglomerate’s holdings. For example, a whopping 35% of Berkshire’s $309 billion portfolio is invested in five financial stocks that Buffett likes.

Berkshire’s top five financial stocks

It probably won’t come as a surprise that American Express (AXP 1.72%) ranks as Berkshire’s largest financial services holding, accounting for 17.3% of the company’s portfolio as of its latest 13-F filing. AmEx is one of Buffett’s longest-held positions. He included it among several stocks that he told Berkshire Hathaway shareholders in 2024 that he expected the conglomerate to “maintain indefinitely.”

Sure, Buffett is not as big a fan of bank stocks as he once was. However, Bank of America (BAC 1.34%) is Berkshire’s second-largest financial stock position and third-largest holding overall. It comprises 9.6% of the company’s portfolio.

Today’s Change

(-1.34%) $-0.70

Current Price

$51.74

Key Data Points

Market Cap

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$378B

Day’s Range

$51.38 – $52.25

52wk Range

$33.06 – $57.55

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Volume

1.1M

Avg Vol

38M

Dividend Yield

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2.09%

Moody’s (MCO 1.26%) has two core businesses. It provides risk management services to institutional investors. The company is also one of the largest credit ratings agencies. I suspect that Buffett finds both units appealing. Moody’s ranks as Berkshire’s sixth-largest holding, accounting for 4.1% of its portfolio.

Chubb (CB +0.00%) is one of Buffett’s more significant new positions over the last couple of years. The “Oracle of Omaha” no doubt thoroughly understands Chubb’s property and casualty insurance business. Chubb is among Berkshire’s top 10 holdings and makes up 3.1% of its portfolio.

Visa (V 0.06%) is another financial stock that seems to be a logical fit for Buffett. The credit card processing giant accounts for roughly 0.9% of Berkshire’s portfolio.

How they compare

None of these stocks stands out as head and shoulders above the pack in performance over the last 12 months. American Express, Bank of America, and Chubb are running neck and neck.

But while Visa has delivered the lowest gains over the last 12 months, it’s Wall Street’s favorite over the next 12 months. The consensus price target for the stock reflects a potential upside of over 20%. Bank of America doesn’t lag far behind Visa, though, with a price target that’s nearly 20% above its current share price.

Today’s Change

(-0.06%) $-0.18

Current Price

$326.18

Key Data Points

Market Cap

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$624B

Day’s Range

$324.62 – $327.80

52wk Range

$299.00 – $375.51

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Volume

5.7M

Avg Vol

6.9M

Gross Margin

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77.31%

Dividend Yield

0.75%

Bank of America is the clear winner when it comes to dividends. The company’s forward dividend yield of 2.1% is well above the yields of the other top four financial stocks in Berkshire’s portfolio.

What about valuation? Chubb comes out on top on one metric. Its forward price-to-earnings ratio is 11.3, below the 12.1 forward earnings multiple of second-place Bank of America. However, Bank of America is the winner on valuation with growth factored in. Its price-to-earnings-to-growth (PEG) ratio, which includes analysts’ earnings growth projections over the next five years, is 1.0, well below the PEG ratios of the other four stocks.

Today’s Change

(-0.00%) $-0.01

Current Price

$300.91

Key Data Points

Market Cap

$118B

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Day’s Range

$298.52 – $302.92

52wk Range

$263.14 – $316.94

Volume

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1.8M

Avg Vol

1.7M

Dividend Yield

1.27%

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The best of the bunch for 2026

My view is that all of Berkshire’s top five financial stocks are solid long-term picks. I don’t think investors would go wrong buying any of them. But which is the best of the bunch for 2026?

Bank of America appears to be the most attractive overall. It ranked either first or second in each of the categories used to compare the five stocks. If the market declines significantly, though, Chubb would likely hold up better than BofA. Still, I’ll go with BofA as the best of these five Buffett stocks for the new year.

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Asian Financial Forum Confirms 2026 Dates and Program Direction

The Asian Financial Forum (AFF) will return on January 26 and 27, 2026, bringing together government officials, financial executives, investors, and business leaders from around the world. The event is Asia’s first major financial gathering of the year, positioning it as an early venue for discussions on economic trends and policy priorities.

The forum will once again serve as a meeting point for decision-makers focused on global markets and regional development. AFF has built its reputation as a platform where public and private sector leaders exchange views on finance, trade, and innovation while forming new international business connections.

The 2026 edition will focus on cooperation between policymakers and the business community in response to changing economic conditions and shifting trade patterns. The program will also give attention to sectors linked to digital transformation and sustainability.

Participation Expected From Thousands of Global Delegates

Organizers expect more than 3,600 participants from over 60 countries and regions. The speaker lineup is projected to include more than 130 global speakers from government, finance, and industry.

Senior leadership representation remains a key feature of the event. Data from the forum indicates that about 81 percent of attendees come from CEO-level or senior decision-making roles. This includes executives from financial institutions, multinational companies, and technology firms.

The exhibition segment is also set to expand. Organizers report that more than 140 exhibitors, startups, and service providers are expected to take part, reflecting the forum’s role as both a policy discussion platform and a business networking venue.

Program Theme Highlights Joint Efforts Across Markets

The theme selected for AFF 2026 centers on cooperation between global business communities and policymakers. Organizers say the goal is to examine how coordinated efforts can support growth across regions and industries during a period of economic adjustment.

Rather than focusing on a single region or sector, the forum plans to address shared challenges that affect international markets. Topics include financial stability, cross-border investment flows, digital infrastructure, and sustainable development.

The agenda is expected to include panel discussions, keynote sessions, and closed-door meetings designed to promote practical exchanges between public officials and private sector leaders.

Focus on Technology-Driven Sectors

Technology will again play a central role in the 2026 program. Organizers confirmed that several high-growth sectors will receive dedicated attention, including fintech, artificial intelligence, robotics, green technology, new energy solutions, and web3-related applications.

Financial technology remains a key area of interest as banks, payment providers, and regulators continue to adapt to digital services. Sessions are expected to address topics such as digital payments, regulatory compliance, and cross-border transaction systems.

AI and robotics will also be discussed in the context of productivity and labor markets. Business leaders and policymakers are expected to review how automation tools affect manufacturing, logistics, and service industries.

Green technology and energy transition initiatives will form another core part of the agenda. Discussions are expected to focus on financing models that support low-carbon projects and infrastructure development.

Linking Finance With the Real Economy

AFF organizers said the forum will continue to examine the relationship between financial systems and real economic activity. This includes how capital markets, banking services, and investment tools support small businesses, infrastructure projects, and regional trade.

The program aims to highlight ways financial institutions can improve access to funding for companies operating in emerging sectors. Attention will also be given to risk management and regulatory frameworks that influence lending and investment behavior.

Participants are expected to review how financial policy decisions affect employment, supply chains, and long-term economic stability across Asia and beyond.

AFF Deal-Making Program Expands Business Matching

Alongside policy discussions, AFF will host its dedicated deal-making segment designed to connect investors with project owners and companies seeking funding.

According to figures released by the forum, the deal-making platform is expected to facilitate more than 720 business meetings. Participation is projected to include more than 280 investors, over 560 projects, and approximately 510 project owners.

Organizers describe the program as a structured matchmaking environment where participants can explore partnerships and investment opportunities. Meetings are typically arranged in advance, allowing investors and businesses to hold targeted discussions over the two-day event.

This component reflects the forum’s dual role as both a discussion venue and a practical business exchange platform.

Government and Institutional Participation

AFF traditionally attracts senior government representatives and officials from regulatory bodies. Organizers say this participation allows for direct dialogue between policymakers and private sector leaders.

Government involvement also provides insight into regulatory developments and economic policy priorities. These discussions are particularly relevant for international investors seeking clarity on market access rules and compliance requirements.

Financial institutions and multilateral organizations are also expected to play a visible role in the 2026 event. Their presence supports conversations around regional integration and cross-border financial cooperation.

Asia’s Position in Global Finance

The forum takes place at a time when Asia continues to expand its role in global trade and investment. Regional financial centers remain active in areas such as capital markets, asset management, and digital payments.

AFF organizers emphasize the importance of presenting economic trends from an Asian perspective. This approach reflects the region’s growing influence in technology development, manufacturing, and infrastructure investment.

Participants from outside Asia also attend the forum to better understand regional market conditions and identify partnership opportunities.

Industry Representation Across Multiple Sectors

Beyond financial services, the forum draws participation from a wide range of industries. Technology firms, energy companies, logistics providers, and manufacturing groups are among those represented.

This broad industry mix allows discussions to cover topics that affect multiple sectors. Examples include supply chain financing, digital transformation strategies, and cross-border trade logistics.

The exhibition area provides companies with an opportunity to present products and services related to financial infrastructure, data analytics, compliance tools, and enterprise software.

Preparing for Policy and Market Developments

The timing of AFF early in the calendar year positions it as a venue for setting priorities and reviewing economic forecasts. Business leaders often use the forum to assess market conditions and prepare for upcoming regulatory changes.

Discussions typically address monetary policy trends, interest rate outlooks, and geopolitical factors that influence investment decisions. These sessions provide participants with context for planning corporate strategies and capital allocation.

For policymakers, the forum offers feedback from the private sector on regulatory proposals and market conditions.

Digital Infrastructure and Cross-Border Connectivity

Another area of focus for AFF 2026 involves digital infrastructure and international connectivity. Topics include payment systems, data sharing standards, and cybersecurity frameworks.

Cross-border transactions remain a priority for businesses operating across Asia and global markets. Sessions are expected to examine how digital tools can improve transaction speed, transparency, and cost efficiency.

This part of the program reflects growing interest in modernizing financial infrastructure to support international commerce.

Role of Startups and Emerging Companies

Startups and emerging companies will also feature in the 2026 forum. Organizers expect a strong presence from technology firms offering new financial and enterprise solutions.

These companies often use AFF as a platform to meet investors, form partnerships, and explore expansion into new markets. Their participation adds a practical business dimension to the event alongside policy discussions.

The presence of service providers and technology vendors further supports knowledge sharing across the financial ecosystem.

What to Watch Ahead of the Forum

As the event approaches, attention will turn to the final speaker lineup and detailed program schedule. Market participants will watch for announcements related to policy themes and industry priorities.

Investors and corporate executives are likely to focus on sessions addressing digital finance, sustainability, and regional trade integration. Government representatives are expected to use the platform to communicate policy directions and regulatory updates.

The deal-making program will also draw interest from companies seeking funding and partnerships.

A Platform for Regional and Global Dialogue

AFF 2026 is set to continue its role as a meeting place for public and private sector leaders. The combination of policy discussion, business matching, and technology-focused sessions reflects the forum’s broad scope.

Organizers aim to provide a structured environment for dialogue on economic trends and practical business cooperation. With thousands of participants expected, the event will once again serve as a focal point for financial and business activity at the start of the year.

Further details about the forum are available through the official Asian Financial Forum website: https://www.asianfinancialforum.com/conference/aff/en

A stock market crash might seem like an intimidating prospect. But for those who are prepared, it can be an opportunity to make life-changing investments. 

Historically, the best returns come from buying shares when prices are low. So while it’s impossible to know when the next crash is coming, investors should probably be on the lookout. 

Equity returns

There’s no magic formula that can tell you exactly when is the best time to buy shares. But that doesn’t mean investors shouldn’t try to make the most of the information that is available to them.

Data from JP Morgan Chase shows a strong negative correlation between valuations and returns. Put simply, returns have been best when the S&P 500 has traded at lower price-to-earnings (P/E) ratios.

Source: JP Morgan Guide to the Markets Q1 2026

The correlation isn’t perfect – especially over a short timeframe. But it becomes much stronger over a five-year period and this is something investors should pay attention to.

At the start of the year, the S&P 500 was trading at a level corresponding to an average five-year return of around 3%. But if the multiple falls 20%, that historic figure doubles.

What to do?

This might make it look as though the best thing to do is to wait until a better buying opportunity presents itself. But I don’t think that’s a particularly good idea.

The S&P 500 as a whole might be historically expensive, but this isn’t true of stocks around the world. UK shares, for example, are actually trading at unusually low levels at the moment. 

Source: JP Morgan Guide to the Markets – UK Q1 2026

It’s also worth noting that it isn’t even true of every stock within the S&P 500. A lot are actually trading at historically low multiples right now.

The best opportunities might come from taking advantage of low prices. But investors don’t have to sit around and wait for a stock market crash.

Looking for opportunities

One example from my portfolio is Gamma Communications (LSE:GAMA). At a price-to-earnings (P/E) ratio of 13, the stock is trading at a level well below where it’s been in the past.

The reason I own it, though, isn’t just because it’s historically cheap. I think the company is in a really nice position to benefit from the UK’s upcoming shift away from copper phone lines.

There’s a danger the UK might delay switching off its copper network (it’s happened once before) and this wouldn’t be a good thing for Gamma. And that’s the main risk with the stock right now.

Sooner or later, though, businesses are going to have to move to cloud communications – which is the firm’s speciality. So even if it doesn’t come this year, I think the long-term picture looks good. 

Financial freedom

Achieving financial freedom involves two things. The first is being able to put money aside and the second is finding ways to earn a good return on that capital. 

When it comes to the second, the record of history is very clear. The best returns from the stock market come from buying when valuation levels are unusually low.

Given this, a stock market crash can present life-changing opportunities. But I don’t think investors have to wait for something dramatic to happen to find stocks to buy.