“Warren Buffett, the 88-year-old chairman and chief executive of Berkshire Hathaway Inc, [took] hours of questions from investors, analysts and journalists at the conglomerate’s annual shareholder meeting on Saturday,” Reuters reports. “Buffett’s marathon Q&A session is part of what the billionaire investor calls ‘Woodstock for Capitalists,’ the annual shareholder weekend for his company.”
“‘I like our Apple holdings very much,’ Buffett said on Apple being Berkshire’s largest holding, declining to discuss expectations about the company,” Reuters reports. “[Berkshire’s Vice Chairman Charlie] Munger added: ‘In my family, the people who have Apple phones, it’s the last thing they’ll give up.'”
“On socialism in U.S. politics: ‘I’m a card-carrying capitalist. I believe we wouldn’t be sitting here except for the market system and the rule of law… that are embodied in this country. So you don’t have to worry about me changing in that manner,'” Reuters reports. “On buying back his own stock: ‘If our stock gets cheap relative to intrinsic value, we will not hesitate. We would certainly be willing to spend $100 billion.'”
Read more in the full article here.
MacDailyNews Take: Warren Buffet: “I like our Apple holdings very much.”
We bet you do! (Berkshire owns over $50 billion worth of Apple shares.)
Warren Buffett’s Berkshire Hathaway Apple holdings up over $10 billion this year – May 3, 2019