Daily Trends Now
Daily Trends Now


Warren Buffett to retire from Kraft Heinz

Warren Buffett to retire from Kraft Heinz

As The Oracle is quick to point out, only $36B of that $65B gain in book value came from operations.

In its annual report filed alongside Buffett's letter, Berkshire details exactly how it got to the $29 billion tax bill-related benefit. "But 2017 was far from standard: A large portion of our gain did not come from anything we accomplished at Berkshire". No, it was the Republican-led rewrite of the American tax code.

The billionaire and CEO of Berkshire Hathaway highlighted a $29 billion tax gain for his company, bemoaned a lack of good deals and reminded his readers that owning stocks through low-priced index funds was the best way to build wealth over time.

"You and I are lucky to have Ajit and Greg working for us", Buffett told shareholders.

Buffet said that a dearth of "sensible" valuations led it to close nearly no takeovers of companies in 2017, adding that "price seemed nearly irrelevant to an army of optimistic purchasers".

He let investors know why Berkshire, which is now sitting on a record $116 billion in cash, didn't pull the trigger on any mega-deals past year.




"P$3 rices for decent, but far from spectacular, businesses hit an all-time high" previous year, he wrote. Berkshire also owns scores of businesses that it has acquired over the years: auto insurer Geico, Dairy Queen and BNSF Railway Company. As a result, Berkshire's full-year 2017 net income could jump to an estimated $52 billion, or more than double earnings in 2016. Over the past 53 years, Berkshire has grown its per-share book value at a 19.1% rate compounded annually.

Despite our recent drought of acquisitions, Charlie and I believe that from time to time Berkshire will have opportunities to make very large purchases.

Buffett in 2007 bet a founder of the asset management company Protégé Partners LLC $1 million that a Vanguard S&P 500 index fund would outperform several groups of hedge funds over a decade.

Buffett urged investors to stick with stocks even though they can be riskier in the short-term.

Warren Buffett says the Trump tax cuts passed late past year were a huge win for him and his company, Berkshire Hathaway (BRK-A, BRK-B).

Edward Jones analyst Jim Shanahan says he expected Buffett to devote more of the letter to explaining his decision to promote and name the top two candidates to eventually succeed him as Berkshire's CEO.

follow

editors' picks

February 24, 2018
Packers receive four compensatory picks in 2018 NFL Draft
The NFL released its compensation picks for the 2018 NFL draft , and as expected the Patriots got one. Under NFL rules, the number of compensatory draft picks can not exceed the number of franchises.

February 23, 2018
NRA Chief Singles Out Sen. Murphy During Speech At CPAC
She went on to speak directly to reporters covering the event in National Harbor, Maryland. Chris Murphy of CT were eagerly blaming the NRA . "They hate the NRA ".

February 22, 2018
Low carb versus low fat diets equally effective says study
A string of studies have found that the average person fares about as well on one diet as they do on the other. By the end of the study, individuals in both groups lost weight, on average about 13 pounds (almost 6kg).

February 20, 2018
Rain, snow, flooding making travel hard throughout southeast Wisconsin
Rain is likely Saturday afternoon with a high near 41, then the rain could be joined by snow at night. It will stay in the 30s next Monday with a small chance of a light rain or snow shower.

February 20, 2018
South Korea to announce plan for joint military exercises before April
During those talks North Korea agreed to send its athletes to the Games, along with a cheering squad and orchestra. At the same time, the document does not mention the larger Foal Eagle field exercises.

February 20, 2018
Pro-Syrian government forces retreat after Turkish artillery fire - Anadolu
Turkish incursions into Syrian territory and support for rebels have soured relations between Ankara and Damascus in recent years. A Kurd spokesman said the agreement is strictly military with no wider political arrangements, according to Deutsche Welle.

February 20, 2018
Red Sox reportedly sign JD Martinez for 5 years and $110 million
Here's a potential look at what their lineup could look like on Opening Day, according to Boston Globe reporter Pete Abraham. In just 62 games in Arizona , he hit 29 homers, drove in 65 runs and propelled the Diamondbacks into the NL Division Series.

February 18, 2018
Swansea quake tremor was 'frightening'
The British Geological Survey said on Twitter that an quake of that magnitude occurs in Britain about every two or three years. The natural disaster was the largest one felt in the area since a 5.2-magnitude quake in 2008, the BBC reported .

February 16, 2018
Culpeper Man Offering Free Tickets to 'Black Panther' to Kids in Community
That having been said, I'm not sure what it is about me that puts my expectations so sky-high. Coogler spends a refreshingly small piece of the film laying out the land.

February 16, 2018
Afghan officials: Attacks kill 10 police; blast kills 2 kids
The letter accused the politicians in Afghanistan of protracting the war for personal gain. No group claimed responsibility but the Taliban were suspected.