Economy

Berkshire's Warren Buffett Would 'Love To Own 100%' Of This Stock

Berkshire's Warren Buffett Would 'Love To Own 100%' Of This Stock

Ahead of his annual Berkshire Hathaway shareholder meeting, Buffett spoke highly of his investment in Apple.

"As an asset class, you're not producing anything, and so you shouldn't expect it to go up".

Charlie Munger also said that he wished they owned more of Apple.

Buffett says cryptocurrencies like bitcoin are nonproductive assets similar to gold. "We're certainly going to give it a shot". It doesn't produce anything.

You can see the clip below the fold. "To me, it's just dementia. We can trade it back and forth between us for higher prices but at the end of the day there's still one thing sitting there and it comes to an end". "It's kind of a pure "greater fool theory" type of investment", he explained. Buffett suggested over the weekend that he would buy more shares at the right price. Alluding to the artificial scarcity of cryptocurrencies, he said, "You can only mine so many [bitcoin], but so what?" But you can have anything you can imagine if you look at something and say "that's magic". "They are acutely aware of it and don't want it to happen again".

"We bought about five per cent of the company", he said. And we really like their management, their way of thinking and their way of acting, "he said with a smile". The cheaper the stock is the more they will get for their money.

Lee's Summit police investigate homicide along I-470
But on Saturday evening, the engaged man was fatally stabbed in what police say was a road rage incident with an unknown suspect. Police told FOX4 Monday that they now believe the suspect who killed Cody Harter was driving a auto , not a truck, SUV, van, etc.

And in case you think he's kidding, he added in another tweet, "I am super super serious". "I would be very surprised if they top partners at Goldman are selling their Goldman stock and buying Bitcoin". When you buy something at 15-times earnings or 20-times earnings there is something there.

As if Buffett's tirade were not enough, Munger ripped cryptocurrencies even further.

Also speaking on CNBC's early morning talk show Squawk Box was Microsoft co-founder Bill gates, who agreed with Buffett on the value of Apple's stock. "You can get that and it will feed on itself for a while - and sometimes for a long while - and sometimes to extraordinary numbers".

Buffett appreciated this proposal as it could increase Berkshire's stake in Apple by 5% due to the lack of shares outstanding.

Analysts say a list of hard-line demands that the Trump administration handed China this week could make it even more hard to resolve a trade conflict between the world's two largest economies. "And the fact that it's clever computer science doesn't mean that it should be widely used, and that respectable people should encourage other people to speculate on it. Bitcoin reminds me of Oscar Wilde's definition of fox hunting: the pursuit of the uneatable by the unspeakable".


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