Buffett stings hedge funds anew in annual letter

He revealed that Berkshire more than doubled its investment in Apple Inc.in January, from 61 million shares at the end of 2016 to 133 million shares today. These businesses are more profitable than iPhones and iPads, and they increase the chances customers will buy future Apple gadgets because users’ apps and data are tightly woven into the company’s operating systems.

Among other comments on Berkshire Hathaway’s insurance operations, Mr. Buffett said Berkshire Hathaway Specialty Insurance Co., which was launched in 2013 and is headed by Peter Eastwood, has beaten expectations.

One reason Buffett points out is that there will always be a portion of investors who believe they should be and will be treated better if they pay more for their services.

Warren Buffett, in his annual letter, says you don’t have to be an economist to understand one of the key factors that has made America great: Immigration. He told CNBC that “Apple strikes me as having quite a sticky product, and an enormously useful product to people that use it”.

Berkshire said it had previously classified such Treasury bills as cash equivalents, noting that they are highly liquid and not that sensitive to interest-rate changes.

The expansion of Mr Buffett’s investment team at Berkshire has allowed the company to diversify its portfolio of equities, even as it shrinks in importance for the business as a whole.

Buffett said he doesn’t think the border adjustment tax proposal Republicans are considering will happen because it’s too complicated.

Buffett continued to stress the concept of prevailing through temporary economic setbacks and thanked Berkshire’s Vice Chairman Charlie Munger for helping guide him through such times. The bank raised its dividend to 30 cents annually from 20 cents past year. The stock closed Friday at $24.23, so Mr. Buffett is looking at a paper gain of about $12 billion.

Since then, Jain has “created tens of billions of value for Berkshire shareholders”.

(NASDAQ:AAPL) stock over the past year.

Investors who wanted billionaire Warren Buffett to address the current state of the world in his annual letter to Berkshire Hathaway shareholders will likely be disappointed, but they can still take some comfort in his consistently rosy long-term outlook for the USA economy. Mr. Buffett became one of the world’s richest people by investing in undervalued stocks and buying companies. And it puts his stake in Apple at 1.1 percent, worth almost $7.1 billion as of December 31, 2016. He’s also optimistic about the various stocks Berkshire Hathaway (BRK) has invested in.