May 5, 2018 / 8:40 PM / 20 days ago

BRIEF-Buffett, Munger speak in afternoon session of Berkshire Hathaway annual meeting

May 5 (Reuters) - Buffett, speaking about the united states, says this country really, really works Buffett says apple has an incredible consumer product Buffett says it’s hard to find acquisitions that would be accretive to apple Buffett says he’s delighted to see apple repurchasing shares Buffett said he like seeing his share of apple growing just because company is buying back so much stock Buffett says apple products are ‘extremely sticky’ Buffett says he would love to see apple go down in price Munger says there’s little for apple to do now besides buying back stock Buffett says financial payments industry is a huge deal around the world, with many working to reinvent it Buffett says he is confident in american express investment Buffett says bitcoin is only going to deliver ‘supposed’ scarcity, but ‘so what’ Buffett says you make your money on productive assets not speculative assets like cryptocurrency Buffett says he wouldn’t rule out disagreeing with company management on a proxy, but it’s unlikely they would support a proxy contest Buffett says what amazon’s jeff bezos has done is close to a miracle, but buffett tends not to bet on miracles Warren buffett and charlie munger take the stage for afternoon session at berkshire hathaway annual meeting in omaha, nebraska Buffett says it was ‘stupidity’ not to buy microsoft in the earlier days Buffett says life reinsurance business has grown substantially, particularly internationally Buffett says property-casualty reinsurance business growing a fair amount Buffett says we will be in the reinsurance business 5, 10, 20, and probably 50 years from now Rpt-Buffett says it would “just be a mistake” for berkshire to invest in microsoft, citing possible perception of conflicts because of his friendship with bill gates Munger says some companies buy back shares just to prop up stock price; this is ‘insane’ Buffett says he prefers companies with high return on capital, but has been forced to compromise a bit Buffett says no newspapers other than new york times, wall street journal and perhaps washington post have figured out how to generate digital revenue to offset print ad declines Buffett says ‘i’ve been surprised that the rate of decline has not moderated’ in newspapers Buffett says times, journal and post have viable model for generating digital revenue Buffett says will stay below 10 pct ownership of phillips 66 stock Buffett, on bitcoin, says non-productive assets tend to remain non-productive Buffett says cryptocurrencies will come to bad ends Buffett says change in u.s. Corporate tax law was good for shareholders generally Buffett says believes berkshire will come out okay in its $10.2 bln retroactive reinsurance transaction with aig Buffett says i don’t think it’s evil to conduct a hostile offer for a company; we just won’t do it Buffett calls 3g capital executives “great, great” managers and “wonderful” partners Munger says investors should be paying more attention to china; says some resist because it seems too difficult or too far away Berkshire hathaway annual meeting afternoon session adjourns; formal shareholder meeting to follow shortly

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below