Published: Tue, May 09, 2017
Money | By Armando Alvarado

Warren Buffet regrets missing out on Google and Amazon

Warren Buffet regrets missing out on Google and Amazon

'I was too dumb to realize, ' Buffett said.

"Obviously it was a bad mistake", Buffett said. "In any other field, it would just blow your mind".

And if Berkshire does decide to pay dividends, it would have to commit to maintaining that payout over time, Buffett said, as cutting it could have disastrous consequences for the company's share price. "I don't think there's any question about that coal is going to go down as a percentage of revenue significantly".

Berkshire now owns 133 million Apple Inc shares, but it just sold off one-third of its 81 million IBM Corp shares, saying that Buffett had misjudged that firm. While pulling $880 billion in funding for Medicaid over ten years, the proposed bill, which passed the House on Thursday, also cuts taxes on the super-rich by nearly $300 billion over the course of ten years, according to the New York Times.

And this year, those who made the trek heard Buffett on Saturday criticize the Trump administration's health care overhaul as a giveaway to wealthy individuals like himself, and heard him rebuke the previous management of Wells Fargo, of which Berkshire is one of the biggest shareholders.

Buffett said such shifts help millions of people by providing necessities at a lower cost.

Natural Gas Services misses 1Q profit forecasts
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Monarch Partners Asset Management LLC boosted its stake in Natural Gas Services Group by 16.8% in the third quarter.

"Berkshire ended March with more than $96 billion of cash and cash-like instruments, and Munger said it could do a "$150 billion" acquisition now if it wanted.

But he said Berkshire welcomes being alerted to misbehavior via an internal "hotline" that gets 4,000 calls a year. Buffett said Berkshire's Geico unit was an early customer of Google, paying the search-engine company when people clicked on the auto insurer's ads. Several said they got there almost five hours before doors opened around 6:45 a.m.

He added that healthcare costs have rose much faster in the USA than the rest of the world and warned it will "go up a lot more".

He had long disdained the industry, which had gone through many bankruptcies, but said he is confident it will not resort to "suicidally competitive" pricing strategies that could spell doom. "Greater productivity will benefit the world in a general way, but to be roadkill, to be the textile worker in New Bedford" is a painful experience, he added. "And, of course, the government isn't very good at that", Munger said.

Information for this article was contributed by Noah Buhayar, Laura J. Keller, Jordyn Holman and Katherine Chiglinsky of Bloomberg News; and by Josh Funk of The Associated Press.

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