Buffett says distracted driving is a growing problem

In fact, the contest devolved into a court battle with Yahoo, the web site hosting Buffett’s challenge, and SCA Promotions over what CNN Money said was a squabble over who came up with the idea first.

Berkshire’s Kinder Morgan stake was revealed earlier this month in a U.S. Securities and Exchange Commission filing for the fourth quarter. Buffett, who told the cable television network that he did not think he was wrong for owning IBM shares so far, said it “could be” a mistake.

But one of Berkshire Hathaway’s operations has been damaged by those plunging prices.

The National Safety Council recently estimated the number of traffic deaths in the United States rose 8 percent from 2014 to 2015, the largest year-to-year percentage increase in a half-century. Berkshire’s annual report showed the conglomerate had lost $2.6 billion on the investment at the end of previous year.

Billionaire investor Warren Buffett said Saturday that the nation’s economy is in better shape than the presidential candidates make it seem, though businesses like his still face challenges.

He said Berkshire has to keep billions of euros in banks in Europe, and the low rates could have a negative effect there.

Buffett said he understands why regulators cut interest rates to help Europe recover, but there’s no way to know how that will affect business.

Buffett’s letter is one of the most well-read documents in the business world each year because of his successful track record and his knack for explaining complicated subjects in simple terms. He said Berkshire has an advantage in that it can invest in a variety of industries through its subsidiaries, which agreed to 29 smaller acquisitions worth $634 million a year ago.