Warren Buffett released his latest annual shareholder letter for Berkshire Hathaway on Saturday. The chairman and CEO of Berkshire Hathaway said he would continue to bet on America, even after reporting operating profits that fell during the fourth quarter . Greater inflationary pressures weighed on the the firm's various businesses.
'Bold imaginative accounting,' as a CEO once described his deception to me, has become one of the shames of capitalism." Buffett defends stock buybacks "Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business.
No doubt, a great investor but his Dad was a congressman w/ ties to the gov. and was also a broker/trader. Prob biggest reasons Warren is successful today w/ much insider information, which should be illegal today. He seems clueless as to why buybacks are bad for consumers.
Stock buy backs need to be illegal again.
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