Buffett 'blew it' by not buying stock in Amazon and Google

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"So it is a huge tax cut for guys like me", Buffett was reported saying by Reuters. In October, Chief Executive Officer John Stumpf resigned after testifying to Congress on why the lender opened 2 million bank accounts without customers' permission.

The Oracle of Omaha also extended a Berkshire job to fellow octogenarian and Vanguard founder Jack Bogle.

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.

"The investing world is just a morass of wrong incentives, insane reporting and, I'd say, a fair amount of delusion", Munger said.

"And then beyond that we have to have policies to take care of the people that become the roadkill in the process", Buffett said at Berkshire's annual shareholder meeting, often known as Woodstock for Capitalists, held at the CenturyLink Center in downtown Omaha of Nebraska. Buffett said he was happy to gather more money that can be used for takeovers and stock picks.

Buffett and Munger avoided technology investments for most of their careers because they said it was too hard to figure out which companies would win.

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Buffett reiterated at the annual Berkshire Hathaway Inc.

And this year, those who made the trek heard Buffett on Saturday criticize the Trump administration's health care overhaul as a giveaway to wealthy individuals like himself, and heard him rebuke the previous management of Wells Fargo, of which Berkshire is one of the biggest shareholders.

Investor Warren Buffett says one of the most-important skills his eventual successor will need is a talent for allocating all the cash Berkshire Hathaway's businesses generate. "The CEO has to act", Buffett said.

"The CEO has to act", Buffett said. 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.

"I can very easily determine the competitive position of Apple now and who's trying to chase them and how easy it is to chase them", Buffett told CNBC. Today, investors have to pay $934.15 per Amazon share and $950.28 per Google stock.

"Every year it seems I have to come earlier", said Chris Tesari, a retired businessman from Pacific Palisades, California who said he arrived at 3:20 a.m. for his 21st meeting. While Buffett met Mr Peanut at the Kraft Heinz booth, Miami Dolphin player Ndamukong Suh wandered about 1m away without a crowd.

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