World's third richest man, Warren Buffett, prodded ordinary investors on Saturday to stay invested in United States stocks, ignoring price swings, guidance from people with fancy credentials and the temptation to load up on bonds. "Well, the answer is just I'm out of touch". Careful decisions and an aversion to debt and speculation has gotten the firm this far - and that's the course it'll stay on, he said.
"There is simply no telling how far stocks can fall in a short period", Buffett said. They hope their companies' sheer sizes will help bring the necessary scale and resources to tackle the health-care system's most pressing issues. GE's accounting woes prompted the need to restate its financial results, so obviously its accounting practices are "not a model at all" for other companies to follow, Buffett said.
"Digging your way out of it takes time", Buffett said.
He's said it before and he's saying it again.
Costs per person have risen from $170 per year in the 1960s to $10,000 today, he said, or a total of $3.3 trillion a year.
One thing that always strikes me when Warren Buffett talks about Berkshire is how much of a salesman he is. That ended past year, and Buffett - who bet slow, steady gains by the S&P 500 would beat out hedge funds over the decade - won with flying colors. In it, he noted that previous year was quiet for dealmaking at his company as the cost of buying other businesses was reaching an "all-time high".
So what could Berkshire buy? Get the latest breaking headlines sent straight to your inbox. Berkshire doesn't intend to actually repatriate that money, but that won't stop it from having to pay the tax.
Berkshire said that NICO Group's premiums earned were $US4.451 billion, down $US198 million (or 4%) in 2017 compared to 2016 when the figure was $US4.646 billion, while premiums written declined slightly to $US4.371 billion from $US4.433 billion. "He feels like he needs to make a move", Cramer said on " Squawk on the Street".
Berkshire Hathaway wholly owns dozens of companies - from Dairy Queen to Duracell - and holds significant shares in large and diverse corporations including American Express, Apple, Bank of America, Charter Communications, Coca-Cola, Delta Air Lines, General Motors, Goldman Sachs, Moody's, Wells Fargo and Southwest Airlines.
Berkshire's largest stock holdings were detailed in Buffett's annual letter, and Apple is now the company's most-valuable position based on Friday's close. Book value per share, measuring assets minus liabilities, rose 23% in 2017.
Buffett expressed frustration in the shareholder letter about how hard it is to find something to buy at a "sensible" price because the markets have surged in the past year.