USA billionaire investor Warren Buffett (C), chairman and CEO of Berkshire Hathaway, visits an exhibition on his invested companies before the Berkshire Hathaway's annual shareholders meeting in Omaha, Nebraska, the United States, on May 5, 2018.
Charlie Munger, Berkshire's vice chairman and long-time Buffett collaborator, said during the meeting that trading in cryptocurrencies is "just dementia".
He said that he hopes more daily newspapers can find a way to be economically viable because they are so important to society.
"He's done a phenomenal job for his shareholders", said Gary Gocken, of Lincoln.
Apple's share price hit a record high after Buffett revealed having boosted Berkshire's already large stake in the Cupertino, California company to roughly 240 million shares, now worth some $44bn.
Buffett encouraged everyone in the crowd to make long-term investments without worrying about headlines, such as trade disputes, Federal Reserve actions or the economy.
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Berkshire Hathaway Inc on Saturday ended its more than year-long stretch of falling operating profit, while a new accounting rule caused the conglomerate chaired by Warren Buffett to suffer an overall net loss.
Billionaire Warren Buffett says he doesn't expect a full-blown trade war to develop between the United States and China because both countries benefit so much from trade.
The questions at the meeting always include a few focused more on life lessons than investing.
- "We're going to make mistakes".
Berkshire Hathaway reported a 48.7 percent first quarter gain in operating earnings, to $5.3 billion, as its insurance underwriting business swung back into the green and railroads, utility and other businesses posted gains. "There'd be a lot of people who wouldn't believe us if something good immediately happened after we bought it". The company also has major investments in such companies as American Express, IBM and Wells Fargo & Co.