Cybersecurity uncharted territory, risks to get worse: Warren Buffett

I’m starting a candy company & it’s gonna be amazing’ Musk goes full Willy Wonka in Buffett spat

Renowned investor Warren Buffett during the annual meeting of his Berkshire Hathaway has torn into Musk's recent comment on his belief in economic moats, triggering a proper billionaire trolling war.

Buffett made his assessment before tens of thousands of Berkshire shareholders attending the conglomerate's annual meeting on Saturday in Omaha, Nebraska.

Buffett said that the buyback program would be the most effective use of the company's cash.

It came two days after Buffett revealed having bought 75 million additional Apple shares, and four days after Apple said it may buy back $100 billion (roughly Rs. 6.7 lakh crores) of stock. "I'm delighted to see them repurchasing shares", Buffett said.

"We would love to see Apple go down in price", Buffett said.

The figure make the holding company Apple's third-largest shareholder, behind Vanguard Group and BlackRock.

He followed up with another tweet: "Then I'm going to build a moat & fill it w candy". Zacks Investment Research upgraded shares of Berkshire Hathaway from a "hold" rating to a "buy" rating and set a $227.00 price objective on the stock in a research report on Tuesday, January 9th.

Buffett's initial commitment to Apple surprised many given his usual aversion to companies in the technology sector, but the billionaire views Apple more as a consumer products company.

The California-based giant's market valuation, meanwhile, has surpassed the $930 billion mark. He said cyber risk is part of his estimate that every year carries about a 2% chance of a super catastrophe that would cause US$400 billion (RM1.58 trillion) or more of insured losses.

However, the "Oracle of Omaha" told investors investing Berkshire's cash stockpile-which now amounts to around $108 billion-was a challenge. As for the current flow of deals, he said his telephone hadn't been ringing off the hook. It actually led Berkshire to a net loss in the quarter, even though operating profit climbed.

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