'Rat Poison Squared.' Warren Buffett Really Doesn't Like Bitcoin

Randal Sanchez
May 7, 2018

"I think anybody that tells you now they think they know in some actuarial way either what (the) general experience is like in the future, or what the worst case can be, is kidding themselves", he added.

In other comments at the shareholder meeting on Saturday, Buffett said it is unlikely that the U.S. and China will come to loggerheads on trade.

Warren Buffett has indicated he would be interested in increasing his stake in Apple, as long as shares in the technology giant were available at the right price.

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.

"They are not going to find $50 billion or $100 billion acquisitions that they can make at remotely a sensible price", ReCode quoted Buffett as saying at the company's annual meeting held at Omaha city in the USA state of Nebraska.

Earlier this week, Buffett revealed that he had bought 75 million additional Apple shares, which means that Buffett now owns approximately 5 percent of Apple.

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Berkshire is now Apple's third largest shareholder, behind Vanguard Group and BlackRock.

"I love the idea of having our 5 percent, or whatever it is, maybe grow to 6 or 7 percent". "If you look at Apple, I think it earns nearly twice as much as the second most profitable company in the U.S".

Speaking at Berkshire's annual shareholder meeting, Buffett credited Apple with developing "extremely sticky" products to which consumers become attached, Reuters reports.

The California-based giant's market valuation, meanwhile, has surpassed the $930 billion mark.

However, the "Oracle of Omaha" told investors investing Berkshire's cash stockpile-which now amounts to around $108 billion-was a challenge.

"That is not investing", he said at the time. It actually led Berkshire to a net loss in the quarter, even though operating profit climbed.

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