Here's Why Warren Buffett Has 'Bought More Apple Than Anything Else'

Food requirements for investors who arrive from around the world too are taken care

Buffett said in an interview with CNBC Monday morning that he "wouldn't rule out owning an entire airline".

Interestingly, S&P 500 has outperformed Berkshire Hathaway in just 17 out of the 53 years, which included two years (1974 and 1990) where both delivered negative returns, but S&P 500 delivered lower negative returns compared to Berkshire Hathaway.

In his annual letter to Berkshire Hathaway Inc's shareholders on Saturday, the company's chief executive officer and billionaire investor, Warren Buffett, announced that the company's profit for the year 2017 surged, boosted by USD29.1 billion gain related to U.S. tax cuts.

Buffett said Berkshire and its partners have been inundated with offers from companies and individuals who want to help with the health cost project, but it's too early to consider those because the group is still looking to hire an executive to lead the effort.

Costs per person have risen from $170 per year in the 1960s to $10,000 today, he said, or a total of $3.3 trillion a year.

Buffett likes to buy companies "cheaper than they are", Cramer said.

"My guess is they have scrubbed and scrubbed and found all the things that were done wrong", Buffett said.

The three announced last month a venture created to cut health costs and improve services for their USA employees.

"Berkshire's blood flows through their veins", Buffett wrote.

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All told, Berkshire's net income increased more than 86% to $44.94 billion, while revenues increased 8.3% to $242.14 billion.

"So far this year, we've been a net buyer" of stocks, he added.

Be the first to know when news happens. Berkshire typically pays all cash for acquisitions. Shareholders voted 47-1 a few years ago against getting a dividend, he said, preferring instead to let Berkshire manage their money.

Buffett said he believes Wells Fargo will get through its problems with misconduct and government penalties.

Meanwhile, insurance float, or premiums collected before claims are paid, and which gives Buffett more money to invest, was about $114 billion at year end. Book value per share, measuring assets minus liabilities, rose 23% in 2017. Berkshire Hathaway is the biggest owner of Bank of America and Wells Fargo stock, not a majority owner.

There are 17 pages in all of Warren Buffett's words, I think it's well worth a read.

He shared the data that revealed Berkshire Hathaway's stock declined by a range of 37 percent to 59 percent multiple times over the last five decades. For the full-year 2017 insurance investment income passed $3.9 billion for the firm, up approximately $300 million on the prior year.

Even so, insurance float, or premiums collected before claims are paid, and which give Buffett more money to invest, rose 25% past year, to $114.5 billion.


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