Berkshire more inclined to repurchase stock than pay dividends: Buffett

Berkshire more inclined to repurchase stock than pay dividends: Buffett

Tap into millions of public records, notices and articles on The Daily News with our ever-growing line of services.

Berkshire also posted a record $44.94 billion annual profit, though $29.1 billion stemmed from the slashing of the U.S. corporate tax rate, which reduced the Omaha, Nebraska-based conglomerate's deferred tax liabilities.

Of course Buffett being Buffett, we're expected to not only pretend like we care what he says, but also to pretend like what he says is some semblance of profound when it nearly invariably is not.

Despite the losses, the company made $3.7 billion in dividends from its stock holdings alone previous year which helped keep its profits up. As of this writing, Apple is Berkshire Hathaway's second-largest stock holding at $28.2 billion.

Buffett is sitting on $116 billion of cash and bonds because he's struggled to find acquisitions at sensible prices.

The venture is initially being guided by three senior executives from the companies: Berkshire's Todd Combs; Marvelle Sullivan Berchtold, a managing director at JPMorgan who previously worked at drugmaker Novartis; and Beth Galetti, a senior vice president for human resources at Amazon. Mr Buffett, one of the richest men in the world, opposed the plan. Mr Buffett has led it for more than four decades, making his vast fortune.

Buffett said it's important for people to invest money regularly regardless of the market's ups and downs, but watch out for investment fees which will eat away at returns.

Berkshire Hathaway was in possession of $86.4 billion in cash at the end of 2016.

Trump has made some serious accusations against Obama
The White House has been facing increasing questions over what it plans to do to counter Russia's information warfare efforts . Petersburg and, using a virtual private network, post on Facebook and Twitter while appearing to be inside the United States.

Warren Buffett published his annual letter on Saturday, and it came with some of the usual trimmings: sage advice and reflections on the past year's success. Regulators determined that bank employees opened millions of unauthorized accounts to meet sales quotas.

Buffett said it seems like Wells has gotten "all the cockroaches out of the kitchen" but wasn't completely sure.

"It is a awful mistake for investors with long-term horizons - among them pension funds, college endowments and savings-minded individuals - to measure "risk" in their portfolio's ratio of bonds to stocks", Mr Buffett warns.

"I have warned you, however, that we have been fortunate in recent years and that the catastrophe-light period the industry was experiencing was not a new norm".

Berkshire CEO Warren Buffett said he expects the company's insurers will have to pay about $3 billion in claims related to the hurricanes that struck Texas, Florida and Puerto Rico last fall.

"Though markets are generally rational, they occasionally do insane things", said Buffett.

The last big deal Berkshire made was the $37 billion purchase of aircraft components manufacturer Precision Castparts in 2015.

That surprised John Fox, chief investment officer at FAM Funds, which holds Berkshire stock. Those include large stakes in Coca-Cola and American Express.