Warren Buffett: Keep Free Trade, But Help Individuals Hurt By It

Buffett has a longstanding bet that an S&P500 index fund will beat all hedge funds over the long term a bet he is solidly on track to win

In a footnote, Berkshire said it had invested "significant amounts" a year ago in U.S. Treasury bills maturing in more than three months.

In this case, perceptions matter.

Buffett says if retailers like the Berkshire Hathaway-owned Nebraska Furniture Mart has to pay more taxes on imports, that will increase the price consumers pay.

"Apple strikes me as having quite a sticky product and an enormously useful product to people who use it, not that I do", said Buffett, who produced the basic flip phone that he relies on.

Buffett talked at length, as he has done in the past, about how Berkshire's corporate philosophy has shifted over time from primarily holding common stocks in insurance subsidiaries to being outright owners of businesses.

The Apple investment appears to reflect much of the $12 billion of stock that Buffett said he had bought between the November 8 Presidential election and the end of January.

Buffett said he accumulated about 123 million of the Apple shares, and that one of his deputies acquired the rest, without identifying the investment manager. On Monday, United announced that it was ramping up flights in a number of crucial locations. He is proud of that for the last two years "first among American businesses in the dollar volume of earnings retained" and that they hope these reinvested dollars will earn their keep.

"I " ll repeat what I've said in the past and expect to say in future years: Babies born in America today are the luckiest crop in history", said Buffett.

Also, with the new Republican administration, it's likely that some thesis-altering changes will happen, such as tax reform, healthcare changes, and more, and Buffett will likely react to these in his investment strategy.

However, that's much easier said than done, even for the most avid basketball fan.

Mr Buffett, who supported Democratic candidate Hillary Clinton in the U.S. presidential election, did not address Donald Trump's policies. "One word sums up our country's achievements: miraculous".

Over the weekend Warren Buffett, arguably the world's most famous investor, published his annual shareholder letter, where he once again waded into the active versus passive debate. Meanwhile, the company's operating earnings declined from the previous year period. But he made no detailed remarks on succession and was quiet on Wells Fargo & Co., one of his largest stock holdings.

Warren Buffett says the proposed $143 billion offer to acquire Unilever, a deal with links to his company, fell apart quickly because the European company wasn't interested. Here's what Berkshire is holding now, and what changed since a year ago.



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