May 4, 2019 / 5:01 PM / 23 days ago

BRIEF-Warren Buffett, Charlie Munger, Ajit Jain make comments at Berkshire annual meeting

May 4 (Reuters) - Buffett says first quarter was weak at all four of our furniture operations Buffett says he would not get excited about so-called alternative investments Buffett says people who made decision to invest in amazon are as much value investors as he is Buffett says berkshire portfolio managers todd combs, ted weschler are ‘absolutely following value principles” in investing, including whoever invested in amazon.com Buffett says ‘you could not have two better operating managers’ than berkshire vice chairmen greg abel, ajit jain Buffett, asked why other berkshire leaders don’t answer shareholder questions at annual meeting, says ‘this format won’t be around forever’ Buffett says precision castparts’ profit margins are below what was projected 2 years ago Buffett says he expects precision castparts’ earnings to improve significantly Vice chairman ajit jain, who oversees berkshire insurance businesses, says he avoids many insurance contracts because there is a lack of data to “hang our hat on” Buffett says he says he is pleased to be partners with 3g capital, but they have more of a taste for paying up Buffett says it is ‘conceivable’ that something could come up where berkshire and 3g would work together again, and that in some cases ‘they are way better operators’ Buffett says he likes apple inc very much but wishes price was lower so he could buy more Buffett says he has been surprised by how little people have moved into houses, hurting u.s. Furniture operations Buffett says rewards are higher for being a great salesperson than a great analyst in investment management Buffett says decision by others at berkshire to buy amazon follow value investing principles Buffett says it is probably a good idea to bring berkshire managers ajit jain and greg abel on stage to answer questions Buffett says fed changes to regulations on bank-holding companies mean less of deterrent for berkshire Buffett says berkshire holdings of some companies may now drift higher than 10% over time Buffett calls jorge paulo lemann, co-founder of brazilian investment firm 3g capital, ‘a good friend of mine and marvelous human being’ Berkshire Hathaway annual meeting adjourns for lunch break

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