Warren Buffett has long list of complaints in Berkshire letter
In his widely read letter to shareholders, he touts the strength of the US economy, but slams Trump’s ‘arrogance’ for taking credit for it
New York — Warren Buffett on Saturday appeared to fault US President Donald Trump for taking too much credit for the nation’s economic growth, while acknowledging that market conditions are making it tough for his Berkshire Hathaway to find more big companies to buy. Buffett lamented these states of affairs in his widely read annual letter to Berkshire shareholders. Accompanying the letter was more bad news, that sinking stock prices and a big write-down for the company’s Kraft Heinz investment fuelled a $25.39bn fourth-quarter net loss, and caused Berkshire to post its lowest annual profit since 2001. But many of Berkshire’s more than 90 businesses, such as the Geico car insurer and BNSF railroad, performed well, and quarterly operating profit rose 71%. Buffett uses his shareholder letters to focus on Berkshire’s operating businesses, tout the strength of the US economy, and criticise thinking and business practices that get in the way. The 88-year-old said Berkshire’s success has ...
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