Billionaire Warren Buffett said critics of stock buybacks are 'either an economic illiterate or a silver-tongued demagogue' or both and all investors benefit from them as long as they are made at the right prices.
, but kept his message — which has long been one of the best-read documents in the business world — remarkably brief this year at a little over eight pages. And he devoted an entire page to a tribute to his 99-year-old partner Charlie Munger.
Buffett pointed out how much Berkshire benefits from dividends that it receives from the huge investments in its portfolio like Coca-Cola and American Express even though he refuses to pay a dividend at the Omaha, Nebraska-based conglomerate he leads because he believes he can generate a bigger return for shareholders by investing that cash.
So those bottom line numbers were again distorted by the value of Berkshire’s sizeable stock portfolio. That’s why Buffett maintains that operating earnings are a better measure of Berkshire’s performance because they exclude derivatives and investments. But by that measure, Berkshire’s operating earnings also declined to $6.7 billion, or $4,584.46 per Class A share, from the previous year’s $7.3 billion, or $4,904.23 per Class A share.That’s well below what Wall Street predicted.
Berkshire’s performance tends to follow whatever the U.S. economy is doing because so many of its dozens of manufacturing, utility and retail businesses follow those trends. In many ways, the conglomerate is a barometer of the economy.when he made a net investment of roughly $53 billion by the calculations of Edward Jones analyst Jim Shanahan. Much of that went into stock of oil producers Occidental Petroleum and Chevron and last fall’s $11.6 billion acquisition of Alleghany Corp. insurance.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Warren Buffett’s Berkshire Hathaway Posts Big 2022 Loss in Rocky MarketWarren Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.
Leer más »
Warren Buffett touts key bets, defends taxes, buybacks in annual letterWarren Buffett touts his iconic Coca-Cola and American Express bets in his annual letter - and trashes managers who manipulate earnings
Leer más »
Warren Buffett Letter To Shareholders: Berkshire Hathaway Posts Losses — But Remains OptimisticThe billionaire remained optimistic about the U.S. economy amid inflation rates in his annual letter to shareholders.
Leer más »
Warren Buffett, in annual letter, stays upbeat and preaches patienceBillionaire investor Warren Buffett on Saturday signaled he has lost none of his enduring confidence in the U.S. economy and his company Berkshire Hathaway Inc .
Leer más »
We found Jimmy Buffett tickets that are cheaper than a margaritaJimmy Buffett has six concerts in 2023. We found tickets for each and every show.
Leer más »