Warren Buffett: Berkshire discloses enough about itself

Warren Buffett: Berkshire discloses enough about itself

Among other businesses, the Berkshire Hathaway Energy unit posted a 3-percent profit increase, while earnings from retailing and services units increased 16 percent, despite a 19 percent revenue drop at See's sweets because Easter fell late.

"I don't think the country will go into socialism in 2020, or in 2040, or 2060", Buffett told investors in Omaha, Nebraska during Berkshire's annual meeting on Saturday.

Warren Buffett has long voiced his admiration for Amazon, yet it wasn't the "Oracle of Omaha", as the celebrated investor is known, to put Berkshire Hathaway's money where his mouth is.

Buffett has said that Berkshire has a succession plan in place for whenever it is needed. The shareholder meeting is Saturday.


However the results exclude Kraft Heinz, one of Mr Buffett's biggest investments, as the company's numbers are not yet out. Berkshire wrote down the value of its stake in the company by $3bn at the same time.

Analysts on average expected operating profit of about $3,399 per Class A share, according to Refinitiv data. That hasn't just benefitted Buffett, but also Apple shareholders in general.

"He said Berkshire Hathaway bought Amazon - Warren Buffett didn't buy Amazon", Siefert said. "Whenever you've got 40,000 fans cheering on a CEO, there is probably less skepticism in the investment base than is appropriate", he added in reference to Berkshire's annual shareholder gathering.

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