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The 'Oracle of Omaha' Condemns Republican Health Care Bill At Berkshire Meeting

09 May 2017

Buffett shared some similar thoughts on the bill at the annual Berkshire Hathaway shareholders meeting on Saturday.

Mr. Buffett said he was not bothered by initial USA data showing the economy grew at just 0.7 % in the first quarter, saying it was "more or less" growing at 2% a year.

Berkshire holds about 133 million Apple shares, but Buffett says he looks at that more as a consumer products company instead of a technology company.

Despite the earnings shortfall, Buffett's preferred measure of growth for Berkshire, book value per Class A share, or assets minus liabilities, rose 3.5 percent in the quarter to $178,073.

Berkshire plans to name one of its existing managers CEO after Buffett is gone, and the decentralized structure of the company allows Berkshire's subsidiaries to largely run themselves.

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Billionaire Warren Buffett said Saturday that the Republican approach to overhaul the health care system is a tax cut for the rich. "I never expected he could pull off what he did. on the scale that it happened", Buffett said Monday. 'I did not think [Bezos] could succeed on the scale he has'.

On Sunday morning, almost 3,000 people ran in a 5K race through downtown that was sponsored by Berkshire's Brooks Running subsidiary.

"I'm sure that they give money to people I wouldn't vote for, but that is the reality of doing business", he said.

Yet Buffett and Munger stood by Wells Fargo and other Berkshire investments, including United Airlines and Coca-Cola. Berkshire, a conglomerate that wholly owns Geico Insurance and other assets, has seen its share price double over the past five years.

But for long time watchers of Buffett, perhaps the most tantalising point to emerge, was a stronger suggestion of a dividend - either by way of a cash payment or capital management.

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Apple, which Buffett scooped up previous year, accounts for about 5.5% of Berkshire's portfolio.

Then Buffett will visit with sharholders enjoying steak at one of his favorite restaurants, Gorat's.

"We should try to hit both objectives, to make sure there is not roadkill and 320 million people get the benefits of free trade", Buffett said. "The main problem was they didn't act when they learned about it", he said of Well Fargo.

Another Democratic senator who has been a vocal critic of the new bill said it would just make the rich wealthier while taking away basic healthcare from those in need.

While Munoz "apologized many times", his first response could have been a bit more proactive than just a simple apology, as "your first reaction is going to get a lot of attention", Buffett said.

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