Buffett: We will continue to buy more real estate brokers

06 May, 2018, 03:27 | Author: Corey Lynch
  • Warren Buffett has just made a remark on Bitcoin and you must read

Amazon, the second-most valuable company in the world - which on April 30 had moved to within $79 billion of Apple's net worth - was a more distant No. 2 at Friday's close, just four trading days later, trailing the iPhone maker by $166 billion. But he said the new company will have a chief executive in the next "couple months".

But he maintained that the bank is not "inferior" as an investment or morally to its main banking rivals.

The benefits of trade are basically not visible. He is often called the "Oracle of Omaha" by media outlets.

"Even Donald Trump can be right on some of this stuff", he said.

"The overriding question is: How is American business going to do in your lifetime?"

Buffett and Munger both said little has changed because Berkshire's businesses largely run themselves day-to-day.

Watching the questioning at Berkshire Hathaway's annual meeting each spring has become an annual tradition for many in the crowd.

Apple shares have hit an all-time high on news that legendary investor Warren Buffett now has a roughly 5% stake in the tech giant. Buffett told CNBC on Friday that he had liquidated his position in IBM, which he began amassing in 2011 when Big Blue was struggling.

Apple reported US$61.1b in revenue for the March quarter, up from US$52.9b past year, and promised US$100b in additional stock buyback. Buffett, in an interview with Yahoo Finance, acknowledges that driverless cars - "if they're safer" - will reduce the need for auto insurance and also push down premiums. Berkshire's reported operated earnings of $5.3 billion, were up almost 49% from $3.6 billion a year ago.

Outside the convention centre, Berkshire shareholders lined up for prime seats in the middle of the night.

As always, the 87-year-old investment guru dubbed the Oracle of Omaha will be the ringmaster of the three-day event, which has skyrocketed in popularity in recent years and is again expected to draw tens of thousands of Buffett devotees to his hometown. This year's meeting is his third. Berkshire officials say this year's attendance could top the record of 42,000 set a few years ago when the company marked 50 years of Buffett's leadership, but the attendance figures are only an estimate based on the number of meeting pass requests.

As Buffett gazed over a BNSF model railroad, a wall of media and shareholders, some holding Buffett figurines, crowded around him as he inched along.

Buffett said Wells Fargo appears to have learned a valuable lesson from the scandals and that he thinks it's likely to avoid future problems.

"Thank you for everything, Warren", yelled one well-wisher.


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