Warren Buffett Says He Admires Bernie Sanders’ Campaign

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He said Berkshire “might be a little less aggressive in the open market” given the Precision Castparts deal, but added: “I haven’t held back from doing anything because of that upcoming purchase”.

“I thought I was buying it, but we bought it in Q1 and we bought some in Q3”. To Buffett, the economy may not be as strong as the most recent numbers look. Buffett voiced admiration for Sanders choosing to run a non-critical campaign and instead focus on disseminating his platform to prospective voters, in addition to strongly criticizing the Supreme Court’s ruling on corporate and union political campaign donations.

Buffett – the world’s third richest person, according to Forbes, with a fortune of $72.7 billion – is avidly followed by investors, and his opinions on companies and assets move markets globally.

Berkshire Hathaway recently disclosed a $4.5 billion investment in Phillips 66 even with energy companies being pummeled by low crude prices. Buffett said that trade wasn’t a sign that he disliked the company.

That pessimistic view of oil was only part of the reason Berkshire exited Exxon, Buffett said, noting that he no longer owns any oil and gas production businesses.

Buffett says he bases his investments on a company’s prospects over the next five or ten years. Its insurance and utility businesses typically account for more than half of the company’s net income. “I felt that the future wasn’t going to be as good as people were thinking it was going to be”. Glide is a nonprofit in San Francisco’s Tenderloin district that provides food, healthcare, rehabilitation and other services to the poor and homeless. Since then, the auction has raised almost $18 million, drawing bids as high as $3.5 million.

 

The Oracle of Omaha, Warren Buffett, chairman of Berkshire Hathaway (BRKB) said he was adding to his position in worldwide Business Machines (IBM) in August, during an interview with Becky Quick of CNBC. The central bank cut them to around zero to bolster the economy during the financial crisis of 2008 and hasn’t raised them since.

Berkshire Hathaway buys another 3.5M shares of Phillips 66

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