With $116 billion cash, Buffett says Berkshire needs 'huge acquisitions'

02 March, 2018, 05:16 | Author: Sheri Evans
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During his Monday interview, Buffett said Apple has an extraordinary consumer franchise and a strong ecosystem.

Net earnings attributable to shareholders for the fourth quarter surged to USD32.55 billion from USD6.29 billion in the last year period, while earnings per Class A equivalent share attributable to shareholders jumped to USD19,790 from USD3,823 in the year-ago quarter.

He said he would be "more inclined" to buy back stock than pay dividends, and might raise the repurchase threshold from 1.2 times book value.

Instead of letting baseballs fly past him, Buffett is rejecting potential acquisitions that are too expensive, too small or not for sale or for some other reason just don't fit with Berkshire.

Known to fans as "the Oracle of Omaha", Buffett, 87, has suggested USA stocks are probably the best bet over time, encouraging people to make easy choices and stick with them, eschewing high-fee fund managers, for instance. "It made me say, 'You know what, they'll get through it.' And that's not the kind of endorsement that I'd like to hear from someone who's the largest shareholder".

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Buffett is arguably the most important person in the United States banking industry.

"We are always in the market for a big business that we can understand and like and have the management for", he said.

High-grade bonds, he said, can increase the risk of an investment portfolio as inflation eats away at the return. "You and I are lucky to have Ajit and Greg working for us", Buffett told shareholders at the end of the letter.

They also increased the related deferred charge asset by $1.7 billion, after it re-estimated the amounts and timing of future claim payments under the AIG contract. "The best chance to deploy money is when things are going down". That said, at 87 Warren Buffett is not getting any younger and his 94-year-old business partner, Charlie Munger, is even older.

I'm sure most readers have heard of Warren Buffett, but in-case you haven't he's one of the world's best investors and also one of the richest people in the world.

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Here the final lesson from this maestro: Stick with big, "easy" decisions and eschew activity.

In 2014, Buffett said he plans to put 90 per cent of the money he leaves to his wife, Astrid, when he dies into an S&P 500 index fund, and 10 per cent in government bonds. Most of those managers undoubtedly thought hard about their calls, each of which they believed would prove advantageous.

Beside investments, Berkshire owns more than 90 different businesses in a variety of industries, including BNSF railroad, Geico insurance and several electric utilities and manufacturing firms.

"A significant portion of NICO Group's annual reinsurance premium volume now derives from a 10-year, 20% quota-share agreement with Insurance Australia Group Limited ("IAG") that became effective July 1, 2015".

Berkshire wholly owns dozens of companies, and holds significant shares in large and diverse corporations, while Buffett's newsletters are read with intense interest on Wall Street and beyond.

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