A supporter of Democrat Hillary Clinton, the 85-year-old Berkshire chief executive officer didn’t name the candidates espousing a dark outlook.
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“At the other two companies, Coca-Cola and American Express, stock repurchases raised our percentage ownership”, said Buffett.
The chairman of Berkshire Hathaway shared his 31-page letter to investors on Saturday and didn’t hold back on what propelled the portfolio past year and what should drive future returns.
“The answer in such disruptions is not the restraining or outlawing of actions that increase productivity”, Buffett said.
It moves roughly 17% of America’s intercity freight, he says, and 45% more ton-miles of freight than its closest competitor.
Though Clayton has already denied the allegations, Buffett nonetheless stated that the mobile home unit was a very careful lender and that it had escaped major regulatory fines despite more than 60 state and federal reviews during the last two years, reports Reuters.
Buffett’s money is probably safe – but hey, you never know.
“I wouldn’t ever urge them to do anything based on what we do”.
“Candidates can’t stop speaking about our country’s problems (which, of course, only they can solve)”, he wrote.
This prize might sound unusually attainable, but if you do happen to be one of Buffett’s employees, let me caution you that this contest might be tougher than it seems.
“We are doing something the world hasn’t seen”, Buffett said of central banks in Europe and Japan pushing rates below zero to stimulate growth. “But I don’t think they want to unlock millions of phones”, Buffett said.
Berkshire teamed up with 3G Capital to buy Kraft Foods and Heinz – and promptly announced layoffs at both firms.
Investment gains jumped from $285mn to $399mn and the Warren Buffett-headed government benefited from a $406mn derivative gain, compared to a $93mn loss in the prior-year period. “As I mentioned last year that – in real terms – is a staggering six times the amount in 1930, the year I was born, a leap far beyond the wildest dreams of my parents or their contemporaries”.
“At Berkshire, we, too, crave efficiency and detest bureaucracy”, he said.
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Buffett reiterated his mantra that it’s “crazy” to time the market.
