Profits jump at Buffett’s company ahead of annual meeting

  • 📰 WashTimes
  • ⏱ Reading Time:
  • 68 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 63%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Billionaire Warren Buffett said artificial intelligence may change the world in all sorts of ways, but new technology won't take away opportunities for investors, and he's confident America will continue to prosper over time.

Buffett and his partner Charlie Munger are spending all day Saturday answering questions at Berkshire Hathaway’s annual meeting inside a packed Omaha arena.

Buffett said bank failures like the ones this year could have been catastrophic for the economy, but regulators at the FDIC and the government won’t allow that to happen — just like they won’t allow the current debt limit debate to cause a crisis. One of the few concessions Buffett makes to his age is that he no longer tours the exhibit hall before the meeting. In years past, he would be mobbed by shareholders trying to snap a picture with him while a team of security officers worked to manage the crowd. Munger has used a wheelchair for several years, but both men are still sharp mentally.

But Buffett has long cautioned that those bottom line figures can be misleading for Berkshire because the wide swings in the value of its investments — most of which it rarely sells — distort the profits. In this quarter, Berkshire sold only $1.7 billion of stocks while recording a $27.4 billion paper investment gain. Part of this year’s investment gains included a $2.

This year’s first quarter was relatively quiet compared to a year ago when Buffett revealed that he had gone on a $51 billion spending spree at the start of last year, snapping up stocks like Occidental Petroleum, Chevron and HP. Buffett’s buying slowed through the rest of last year with the exception of a number of additional Occidental purchases.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 235. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

7 stocks that fit Warren Buffett's buying criteria ahead of Berkshire's annual meetingCNBC Pro sought to identify names that fit the criteria Warren Buffett looks for when buying a company.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Warren Buffett owns these stocks, and analysts love them tooWatch these stocks in the Berkshire Hathaway portfolio that have analysts equally as excited to own them.
Källa: CNBC - 🏆 12. / 72 Läs mer »