Buffett criticizes United and its CEO over dragging incident
- Author: Latoya Cobb May 09, 2017,
May 09, 2017, 6:56
American business magnate and world-renowned investor Warren Buffett talked about India while speaking to ET Now after a session with shareholders of Berkshire Hathaway during its 53rd annual general meeting.
'That is a problem this society is having trouble with and is going to have more trouble " added Buffett, who's previously funded Republican candidates but threw his support behind Democratic presidential candidate Hillary Clinton a year ago. Had the new law been in effect, Buffett said his taxes would have gone down 17 percent past year.
In 2015, Berkshire made a bet that could profit from increased cyber breaches.
Buffett acknowledges some insurance deals might be impossible to replicate once Jain is gone, but says a lot of solid habits are institutionalized at Berkshire's insurance companies.
On CNBC's "Squawk Box" on Monday, Buffett said, "If I was forced to buy [Google-parent Alphabet] or short it, I'd buy it; same way with Amazon". "We have never had more good managers than we have now", Mr. Buffett said.
He said he had grown more fond of Apple Inc AAPL.O , in which Berkshire has disclosed a roughly $20 billion stake, because he could "very easily determine" the iPhone maker's competitive position "and who is trying to chase them". With big slugs of Berkshire Hathaway's portfolio struggling, including Wells Fargo and IBM, returns are converging with the S&P 500.
Along with Berkshire vice chairman Charlie Munger, Buffett roundly praised Amazon CEO Jeff Bezos. Thus far, IBM has not seen any sort of a massive decline that would justify Buffett's fears, but he said that he simply didn't think of IBM with the same sort of value proposition that he once did, prompting him to hedge his bets on the tech giant.
Buffett also said airplanes "may become like cattle cars", but that's because a significant number of passengers will put up with crowding in exchange for cheaper fares.
To no one's surprise, Buffett did not mention who would take over for him as Berkshire's chief executive.
Warren Buffett is quietly installing a new set of leaders throughout Berkshire Hathaway Inc. When Buffett toured the exhibit hall, he was surrounded by a pack of reporters, shareholders and security officers.
"I think it's a neat way to keep the enthusiasm up in shareholders", said Jerry Meyer, who drove to Omaha with family from Coffeyville, Kansas.
Buffett is the celebrity that everyone wants to get close to at the meeting.