“I strongly suspect that it was massively stupid for our government to rely so heavily on printing money and so lightly on fiscal stimulus for infrastructure”.
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Berkshire Hathaway Chairman and CEO Warren Buffett tours the exhibit floor before presiding over the annual shareholders meeting on Saturday, April 30, 2016, in Omaha, Nebraska.
Buffett, is known for his keen eye for a bargain, and there were plenty on offer for shareholders attending Berkshire’s annual meeting over the weekend, where goods from some 50 Berkshire businesses were on show, often at big discounts.
“We has this experiment”, Buffett said of the effort to put the meeting online. So this year’s addition of a webcast of the meeting didn’t result in a significant drop in attendance from last year’s crowd that was close to 45,000.
Warren Buffett, the chairman and chief executive of conglomerate Berkshire Hathaway, told CNBC Monday that the U.S. Federal Reserve and other Fed policymakers are generally doing a good job managing the U.S. economy, adding that the effects from interest rates remaining low for an extended period of time are hard to predict. Buffett supports Democrat Hillary Clinton, but said choosing the wrong president won’t damage the economy.
Laval, Que.-based Valeant has been under a microscope recently over the company’s practice of rapidly boosting prices for some of its drug products.
Value investor and long-time Buffett watcher Raamdeo Agrawal who is just back from Omaha paying obeisance to the legend, says the Oracle had a unique take on the subject of negative rates.
“The case for switching has to be more compelling”, he said.
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Buffett says he likes owning roughly 15% of American Express’ stock even though competitors are trying to develop a better way to process payments. Buffett, whose Berkshire held an 8.59 percent stake in IBM as of the end of previous year and who has caught some flak for his stake, said his cost basis in IBM was around $170 a share and that he had still never sold a share.
