Apple should buy back shares: Warren Buffett

Warren Buffett and Elon Musk

When asked about gender equality in the workplace and what Berkshire is doing to promote it, Buffett noted that women now head six of the 60-plus businesses that Berkshire owns.

Some analysts have said the stock losses have weighed on Berkshire shares, which are 10 percent below their record highs set on January 29.

Warren Buffett said he doesn't want Berkshire Hathaway Inc. being a leader on cyber insurance because neither he nor others in the industry really know the risk.

The accounting change required Berkshire to report $6.2 billion of unrealized losses in its marketable stock portfolio, which totaled $170.5 billion at year end, regardless of whether it planned to sell those stocks. The company also has major investments in such companies as American Express, IBM and Wells Fargo & Co.

Berkshire Hathaway's CEO and Chairman, Buffet, chairman and CEO of Berkshire Hathaway, made the remarks in response to a Chinese investor's question about US-China trade relations at the Berkshire Hathaway's annual shareholders meeting.

United States billionaire investor Warren Buffett said on Saturday that the world depends on the U.S. and China for progress, dismissing concerns that the two countries' trade tensions could potentially escalate into a trade war.

More news: Denied Power, Armenian Opposition Leader Urges Nationwide Strikes

The shares closed up 3.9 percent at US$183.83 on Friday.

The legendary investor, meanwhile, endorsed Apple's decision to buy back its own stock, describing the plan as the most productive use of cash by the tech giant.

Charlie Munger, Berkshire Hathaway's Vice Chairman stated during the meeting about trading in digital assets as "just dementia".

Berkshire's insurance unit, which includes Geico and several large reinsurance firms, reported a $407 million underwriting profit, compared to a $267 million loss a year ago.

Buffett said the Geico auto insurer had "quite a good-sized turnaround in profitability". "The number of claims are down somewhat".

Related News:

  • Real Madrid coach Zidane confident Ronaldo will make Liverpool clash

    Real Madrid coach Zidane confident Ronaldo will make Liverpool clash

    He played a massive role in the Champions League semi-finals triumph against Bayern Munich, and it was his clever headed assist Sunday that gave Ronaldo the equaliser on a platter.
    All signs point to epic Kentucky Derby

    All signs point to epic Kentucky Derby

    Mendelssohn was scheduled to get out of the quarantine barn and onto the track for the first time on Thursday morning. He only can get in if one of the 20 in the main body of the race is withdrawn by scratch time, which is 9 a.m.
    IPL 2018: CSK versus DD promises to be a thrilling affair

    IPL 2018: CSK versus DD promises to be a thrilling affair

    Rayudu, who was demoted to the fourth spot, initially gave the strike to Dhoni and the Ranchi stumper milked the bowlers. The 36-year-old has also pitched in with handfull of wickets - eight thus far - as he remains a vital cog in CSK dugout.
  • Apple replacing iPhone X with Face ID issues

    Apple replacing iPhone X with Face ID issues

    When they try to tap the button, they find they can't convert the call to a speaker call, forcing them to use the earpiece. Over the past two months, some Twitter and Reddit users have reported a odd problem with their iPhone 7 and iPhone 7 Plus .
    Cinco de Mayo plus Sharks equals busy weekend in San Jose

    Cinco de Mayo plus Sharks equals busy weekend in San Jose

    The French retreated though it would take six more years - and more battles - to convince the French to exit Mexico. To clear the air, George Stephanopoulos brings you a brief history of Cinco de Mayo and the 1862 Battle of Puebla.
    Turkish opposition parties to sign four-way election alliance

    Turkish opposition parties to sign four-way election alliance

    Erdogan has won almost a dozen elections and dominated Turkish politics since the Islamist-rooted AK party swept to power in 2002. Speculation rose on Thursday that prominent CHP MP Muharrem Ince would be the party's presidential candidate.
  • Watch Justify win the 2018 Kentucky Derby

    Watch Justify win the 2018 Kentucky Derby

    This is a bad post position , and there's no indication that Combatant, with one win in eight starts, can muster much from it. It's an incredibly talented field this year , with reasons to both love and doubt every horse entering the day with good odds.
    Walmart to buy 73% of Flipkart in India's biggest e-commerce takeover

    Walmart to buy 73% of Flipkart in India's biggest e-commerce takeover

    The Bansals together own around 10 per cent stake in Flipkart , which makes them collectively worth around $2 billion. As per FactorDaily , Flipkart is pegged at $20 Billion while Walmart has put the company's value at $22 billion.
    Now Alexa Skills can sell you stuff

    Now Alexa Skills can sell you stuff

    Customers pay using Amazon's simple voice purchasing flow using the payment options associated with their Amazon account. The toy company has announced an Amazon Alexa skill that will tell kids exactly how to build and play with their Legos.
  • Trump changes story on Stormy Daniels hush money, denies affair

    Trump changes story on Stormy Daniels hush money, denies affair

    Asked if Cohen made other payments like the one he made to Daniels, Conway replied: "No, none that I would be aware of". Sometimes the point is made specifically about people who voted for Trump.
    SC takes cognizance of Himachal murder

    SC takes cognizance of Himachal murder

    How the accused managed to reach New Delhi and then Mathura has put raises questions about the efficiency of the Kasauli Police. On Tuesday, Sharma was supervising an unauthorised construction demolition when Vijay Singh allegedly fired at her.
    Iraqi journalist who flung shoes at Bush is running for president

    Iraqi journalist who flung shoes at Bush is running for president

    Al-Zaidi is now running for the Council of Representatives, the country's legislative branch, BuzzFeed News reported . Bush and former Prime Minister Nouri al-Maliki in Baghdad in 2008 when he chose to throw his shoes.


Most liked

Nigeria move to arrest suspected killers in northern state
The vigilantes informed us that the casualties will be more but promised to mobilized tomorrow for evacuation of more casualties. At least 45 people were killed when armed bandits attacked a remote village in northwest Nigeria, officials said.

Sharks vs. Golden Knights, Game 5 on Friday
William Karlsson leads Las Vegas with four goals, Reilly Smith has nine assists and Jonathan Marchessault has 39 shots on goal. Marc-Andre Fleury has given up 17 goals on 316 shots faced. "The other night we played okay, but it wasn't good enough to win.

Decision to DFA Harvey was 'a long time coming — Mets GM
Because of Harvey's $5,625,000 salary, a trade may be hard to work out unless the Mets agree to send cash as part of a deal. Once a highly-touted prospect, Harvey broke out in 2013, with a 2.27 ERA and 191 strikeouts over 178 innings.

Jeffrey Tambor to Appear in 'Arrested Development' Season 5
Netflix has not yet announced a premiere date for Season 5, as Hurwitz continues to put the finishing touches on the show. The season, the show's fifth, was filmed past year , before the allegations were made against Tambor, the spokesman said .

Waymo autonomous auto involved in crash in Arizona
Police say the vehicle was in autonomous mode but there was an occupant in the driver's seat who suffered minor injuries. A Waymo self-driving vehicle was involved in a serious accident in Chandler, Arizona earlier this afternoon.

Trump to host S.Korean President on May 22
According to the Yonhap news agency, the incident occurred in the town of Paju near the border with North Korea. Trump later acknowledged that Pompeo, who has since been confirmed as secretary of state, had met with Kim.

LeBronto trending as Cleveland's James completes two-game Toronto takeover
The second half was a back and forth affair, and the Sixers had a five-point lead with under six minutes left in the fourth. The Cavaliers came out swinging in the third and didn't stop until both coaches emptied their benches with 2:34 to play.

Lebron James almost instigated Drake & Kendrick Perkins fight at National Basketball Association game
The beef between Drake and Perkins didn't end once that on-court cameras went offline, per Bruce Arthur of the Toronto Star . The Raptors hosted game two on Thursday and Cleveland won 128-110. "I'm here to represent the Cleveland Cavaliers ".

Celine Dion teams up with Ryan Reynolds' Deadpool for music video
We need to get you down to a 5, 5 and a half tops. "Just phone it in". "Listen, This thing only goes to 11", Dion responds. At the end of Celine and Deadpool's rousing performance, Deadpool says they have to do it again: "It's too good".

Congress will retain power in Karnataka: Scindia
The Congress said the advertisement has been wilfully issued by the BJP with the intention of "consolidating votes on basis of religion".

Baylor Men's Golf Earns No. 2 seed at Bryan Regional
We've played two really tough matches and had opportunities to win both of those, but we haven't gotten out of the first round. Sophomore Camilla Abbate, who has won six of her last eight singles matches, leads the Bears with 19 dual match victories.

Iran Exports Soar Ahead of Possible New Sanctions
Futures for September delivery were little changed at 443.8 yuan per barrel on the Shanghai International Energy Exchange. President Donald Trump to decide whether to continue waiving U.S. sanctions against Iran was also underpinning prices.

Europe's leagues oppose Federation Internationale de Football Association plans
South Africa, which competed with Morocco for the 2010 edition, also announced its support a few weeks ago. The United States is joining Mexico and Canada in proposing a three-country host for the 2026 event.

Anthony Miller Is A Chicago Bear
Chicago continued that trend in the 2nd round of the 2018 NFL Draft by adding Anthony Miller and James Daniels . Stankevitz believes the Bears could use him inside or outside. "It's just a couple little nicks and bruises".

Oppo and Amazon to announce partnership tomorrow
And, all the smartphones launched by Realme in the country will be sold exclusively through Amazon India . The OPPO Mirror 5 launched way back in 2015 came with the similar diamond-like mirrored finish.