Published: Sun, May 06, 2018
Finance | By Jaime Brady

Warren Buffet's Berkshire Hathaway Becomes Major Share Holder of Apple

Warren Buffet's Berkshire Hathaway Becomes Major Share Holder of Apple

The Berkshire Hathaway (BRK-A, BRK-B) chief executive and one of the richest men in the world made his case for just why investing in American business rather than commodities, and especially gold, is the way for investors who want the best returns.

Buffett has said operating results are a better barometer of company performance, in part because Berkshire's more than $170 billion stock portfolio can fluctuate from quarter to quarter. Berkshire Hathaway claimed a almost 3.3% stake, or more than 166 million shares, at the end of a year ago.

All told, it has franchised the Berkshire Hathaway HomeServices name to 1,330 offices and more than 45,000 agents.

Billionaire Warren Buffett brings the "Woodstock of Capitalism" back to Omaha this weekend for the annual Berkshire Hathaway stockholders' meeting, which is known for its straight talk and party-like atmosphere.

"Wells Fargo is a company that proved the efficacy of incentives, and it's just that they just had the wrong incentives", he said.

Speaking to CNBC, the 86-year-old offered effusive praise for Apple, calling it an "unbelievable company" that earns nearly twice as much as the country's second-most profitable company, JPMorgan Chase.

Billionaire investor Warren Buffett touted the importance of trade between the USA and China, the benefits of which are too huge for either economic behemoth to do something "extremely foolish".

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OMAHA, NE-Warren Buffett lost money but had a pretty good quarter. Berkshire officials say this year's attendance could top the record of 42,000 set a few years ago when the company marked 50 years of Buffett's leadership, but the attendance figures are only an estimate based on the number of meeting pass requests.

Berkshire typically discloses its largest common stock holdings and percentage stakes in its quarterly and annual reports.

Berkshire reported a $6.3 billion loss in investment income in the first three months of the year.

The technology giant rose 4.1 per cent to US$184.15 ($262.36), topping its previous high of US$183.50 and placing it roughly US$20 per share short of a US$1 trillion market cap.

Besides investments, Berkshire owns more than 90 subsidiaries in a variety of industries, including insurance, utilities, railroads, and manufacturing.

The United States and China are not likely to clash in any major way over trade, despite tensions created by US President Donald Trump's hard economic line toward Beijing, US billionaire investor Warren Buffett said on Saturday. In Friday trading, the Class A shares closed at$292,600, and the Class B shares at $195.64.

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