“Mr Buffet and [vice-chairman Charlie] Munger might talk more about global things this year because people from around the world are going to be able to listen in”, said Steve Jordon, a reporter for the Omaha World-Herald paper, who covers Berkshire Hathaway.
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Buffett said he found from Census Bureau figures that roughly 10,000 men in the USA that lived to be 100 years old or greater, compared to roughly 45,000 women. A glass of Cherry Coke was by Buffett’s side.
CEO Warren Buffett offered a preview of the first-quarter results at the company’s annual meeting Saturday although Berkshire won’t release its full report until next Friday.
Today tens of thousands of shareholders descend on Omaha, Neb., for the annual Berkshire meeting – dubbed by some as the “Woodstock for Capitalists”.
The largest contributors, BNSF Railway and Berkshire Hathaway Energy, which operates utilities and electricity transmission units, had operating earnings fall 16 percent to $1.2 billion.
But Buffett, who served as a financial adviser to Schwarzenegger when he ran for California governor, was outmaneuvered by Berkshire Vice Chairman Charlie Munger.
Buffett also said he was comfortable with Berkshire’s big stakes in Wells Fargo & Co and, through in-the-money warrants, Bank of America Corp, but he warned about the risk that derivatives pose for most of the world’s biggest banks, especially if markets were disrupted.
Berkshire Hathaway net income rose 8 percent to $5.6 billion from a year earlier.
“If you really want to improve your longevity prospects, I mean a guy in my position, you have a sex change”, Buffett said, evoking laughter from the audience.
“For someone my age, he’s a good hero to have”, Tim Shanahan said shortly after snapping a fleeting picture of Buffett touring the exhibit hall.
Buffett conceded that Berkshire was “slow” to embrace the Internet.
This year, Yahoo Finance will be streaming the meeting live.
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Buffett has long affirmed his affinity for junk food and sweets, buying companies including See’s Candies.
