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Here's what to expect — Berkshire Hathaway AGM

05 May 2018

The Apple purchase, costing between $11 billion and $14 billion, adds to the nearly 170 million shares that Buffett-run Berkshire Hathaway Inc. owned at the end of 2017, when it was already his biggest shareholding.

"They are two different types of decisions".

Berkshire Hathaway has been scooping up shares in Apple since 2016.

The report for the first quarter is scheduled for release on Saturday morning, just before Berkshire's annual shareholder meeting in its Omaha, Nebraska, hometown.

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Billionaire Warren Buffett says Wells Fargo is cleaning up its act after the misconduct at the bank in recent years. "We both may do things that are mildly foolish from time to time".

Buffett doesn't plan to retire, even though he's 87 years old, but he invited more questions about his eventual successor earlier this year when he promoted Greg Abel and Ajit Jain to vice chairmen and expanded their responsibilities.

"We have jobs available one way or another at most of our companies", Buffett said.

He said that, going forward, the company is not "inferior" as investment or from a moral standpoint "to the other big banks with which it competes".

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Shortly before the meeting, Berkshire 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.

Berkshire's revenue declined to $58.47 billion in the quarter from last year's $64.37 billion.

Analysts, on average, expected operating profit of about $3,116 per Class A share, according to Thomson Reuters I/B/E/S.

The healthcare initiative that could upend the insurance industry announced by Berkshire Hathaway, Amazon and JPMorgan Chase could have its next chief executive within the next two months, Berkshire Hathaway CEO Warren Buffett said on Saturday.

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Dion Rabouin is a markets reporter for Yahoo Finance. "And I was wrong on the first one [IBM], and we'll find out whether I'm right or wrong on the second [Apple]", Mr. Buffett had said a year ago. "I think they've got it all taken care of as far as what will happen when they eventually retire or move on".

Here's what to expect — Berkshire Hathaway AGM