Warren Buffett doubled his stake in Apple in January

Buffett has always been a believer in the American dream, and he’s written about it in his annual letters before. “You want him to succeed”. He bets Apple since the company is in a stronger position.

But he said on CNBC’s Squawk Box business program that it’s generally not a good idea to quickly respond to criticism via Twitter or email, as Trump occasionally does.

His Squawk Box session was at the “event center” in the Nebraska Furniture Mart store. Though Gore has taken profits, he still owns a substantial stake in the iPhone maker, notes Forbes.

In his annual letter to shareholders, the world’s most famous investor was as effusive in his praise of Bogle as he was in his disdain for the high fees charged by Wall Street. Others may have sighed in envy as Warren reminded Berkshire followers of the power of insurance float and noted that his low-priced source of near permanent capital is now over $100 billion.

“One word sums up our country’s achievements: miraculous”, Buffett said.

Buffett steered clear of any direct mention of Trump, who took office on 20 January.

This was about as political as Buffett got.

Do you have any secrets for investment success? “The idea of committing your money at roughly 3 percent for 30 years. doesn’t make any sense to me”.

Mr Buffett, whose stock picks over several decades have enriched generations of Berkshire shareholders, also delivered a black eye to the investment industry in his annual letter, urging ordinary investors to buy plain-vanilla index funds.

Berkshire has come to rely increasingly more on acquisitions of entire operating businesses instead of just its stock portfolio that includes major stakes in Coca-Cola, Wells Fargo, Apple and others.

Investment gains declined for the year, partly because Berkshire recorded such a large one-time gain in 2015 due to holdings in Kraft Heinz Co. After taking a liking to Apple’s gargantuan profits and high customer loyalty, Buffett chose to take a major stake.

Even as Apple’s share price hit an all-time high earlier this month, Buffett remains bullish on the tech company.

The legendary value investor told CNBC, “Apple strikes me as having quite a sticky product, and an enormously useful product to people that use it”. His friends with more modest means usually follow his suggestion, but ” none of the mega-rich individuals, institutions or pension funds has followed that same advice when I’ve given it to them”. “The continuity of the product is huge”.

Buffett said that Apple Chief Executive Tim Cook (file above) has done a “terrific job”.

Ted Weschler is known for being interested in American Airlines.

“However our wealth may be divided, the mind-boggling amounts you see around you belong nearly exclusively to Americans”, Buffett wrote.

“If rates were to spike, however, then the stock market would be more expensive”. The stock was up slightly in premarket trading on Monday.

Book value, a measure of assets minus liabilities that is Mr. Buffett’s preferred yardstick for measuring net worth, rose 10.7% in 2016, compared with a 12% total return in the S&P 500, including dividends.

Buffett says the border adjustment tax proposal Republicans are considering would effectively increase the price of imports.