- Appearing on CNBC after the release of his annual letter over the weekend, Warren Buffett (BRK.A, BRK.B) takes some pointed questions over General Electric (NYSE:GE).
- "Looking back on it, do you feel like you were duped by Jeff Immelt," asks the crew. Immelt is a close friend of mine (and Jack Welch too), says Buffett. "I make up my own mind" about investments. He reminds Berkshire did make money on its crisis-era GE investment, though not as much as with the Goldman buy. He plans to spend all day reading GE's annual report.
- Previously: GE to restate two years of earnings (Feb. 26)
- Apple (NASDAQ:AAPL): We bought more of it than anything else in 2017. He's told Tim Cook that once he (Buffett) finally buys an iPhone, Apple should consider the market 100% saturated.
- On the rush of firms telling NRA members to go chase themselves: Companies need to be pretty careful about taking political opinions, cautions Buffett. It's ridiculous for a company to tell a swatch of consumers they don't want their business. Notable tickers of interest: HTZ, UAL, RGR, AOBC, VSTO
- The new tax law: "A huge tailwind for business."
- Dividends: Berkshire is more likely to buy back shares, rather than pay dividends.
- On Wells Fargo 's (NYSE:WFC) troubles: "They'll get through it." CEO Tim Sloan is "working like crazy to clean things up."
- Now read: This Year's Update On A Simple Way To Value Berkshire Hathaway (NYSE:BRKa)
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