“I elect to get my 2,600 or 2,700 calories a day from things that make me feel good when I eat them”, Buffett, 85, said at his company’s annual meeting Saturday in Omaha, Nebraska. But Buffett also noted that he would face a large tax bill on the gains if he did ever sell those investments, adding that tax considerations are a big factor in his investment decisions.
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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.
Ackman’s Pershing Square Capital Management owns 9 percent of Valeant, and the fund manager joined the board five weeks ago, not long after his firm’s Vice Chairman Steve Fraidin became a director.
Valeant has been under significant pressure from lawmakers and shareholders after the company hiked prices for certain drugs.
Current and former Valeant Pharmaceuticals officials were grilled by Congress last week over the company’s strategy of takeover older medicines with limited competition and then pushing up their prices many times above previous levels.
Buffett said on CNBC on Monday that he thought attendance was down by 10 percent.
Mr. Buffett, a staunch supporter of Democrat Hillary Clinton for president, was asked about the regulatory impact on Berkshire if Republican front-runner Donald Trump wins the 2016 USA presidential election. He said some of the country’s past presidents haven’t been great, but business has thrived over time.
Buffett said the Federal Reserve and other policymakers are generally doing a good job, but it’s hard to predict all the effects of interest rates remaining low for this long.
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Buffett told CNBC yesterday that no one can predict the effects of prolonged low rates because it has never happened before.
