Speaking at the annual Berkshire Hathaway shareholder meeting, Buffett praised Apple for creating “extremely sticky” products that bring customers into its ecosystem.
Buffett said he does not want “much underwriting exposure to cybersecurity threats for Berkshire’s insurance businesses”.
The stock is shooting higher as Warren Buffett boasts of his confidence in the company, saying he wishes he could own the whole company. However, trade benefits are “huge”, he said.
He is turning 88 this August, and eight, he said, is a very lucky number in China. “That is not investing”, he said at the time.
Berkshire Hathaway now has a stake in China’s automobile manufacturer BYD.
The investment also helps Mr Buffett deploy Berkshire’s cash and equivalents while he looks for his first major acquisition since paying $32.1bn (Dh117 billion) for aircraft parts maker Precision Castparts in January 2016.
The Microsoft co-founder, who is also on the board of Berkshire Hathaway, says he would love to bet against Bitcoin. “We’re a bunch of undeserving people and we hope that we continue to be so”, Munger said.
Warren Buffett left no doubt about his vast skepticism of Bitcoin and other digital assets. “Cryptocurrencies will come to a bad ending”, said Buffett, adding that cryptocurrencies have no intrinsic value.
“I think it is a miracle to be doing AWS and changing retail at the same time and without a lot of capital and the speed and to do it with the effectiveness of what Amazon has done”. And a bitcoin trading desk is “like somebody else is trading turds and you’re being left out”.
The brilliant mind behind SpaceX and Tesla is now all set to make candy and he promises that “it’s going to be amazing”.
Billionaire technoprenuer Elon Musk just made a pretty sweet announcement: He’s starting a candy company. “If you look at Apple, I think it earns nearly twice as much as the second most profitable company in the United States”.
“Cyber is uncharted territory”.