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Warren Buffett says "sky-high prices" in Berkshire's annual letter



Despite the year when Berkshire Hathaway posted losses and was forced to write down $ 3 billion for its investments, Warren Buffett told shareholders who wants to make a big purchase. first-child "/>

There is only one problem: prices are too high.

"In the following years, we hope to transfer most of the excess liquidity to the businesses that Berkshire will constantly own. Good: The prices are low for enterprises that have decent long-term prospects," Buffett wrote in a letter issued Saturday on Saturday. "However, we continue to hope to purchase the size of an elephant. Even at the age of 88 and 95 – I'm young ̵

1; this prospect is what makes my heart and Charlie beat faster. "

He also, however, said he was" not a market challenge ", noting that he was not knows how the shares will really be conducting this year with their investments in the surrounded consumer giant Kraft-Heinz.Investors were ready to find out what Buffett's plans were for a massive paycheck by Berkshire Hathaway.In past years, Buffett told investors that he had not found anything to buy that was not overpriced.

Meanwhile, Berkshire Hathaway has taken a big part in Apple for The business giant also added to bank holdings and took new rates in airline companies.

Buffett's annual letter comes after Kraft Heinz, one of the largest holdings in the company, has recorded more than 15 billion dollars in brand equity: Oscar Meyer and Kraft, Kraft Heinz also reduced its dividends and reported that the Securities and Exchange Commission was investigating its accounting practices

. 19659003] This also led Barclays analyst Jay Gelb to halve the earnings estimate at Berkshire. The analyst also told clients that quarterly Berkshire numbers are likely to be caused by "significant disaster losses for the world's insurance industry" due to forest fires in California last year and hurricane Michael. To view past Berkshire annual meetings and other Buffett interviews, refer to the CNBC archive Warren Buffett.

– Lisa Moore of CNBC contributed to this report.


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