Here's why Warren Buffett isn't anxious about Berkshire Hathaway when he retires

So even with the recent pullback, bitcoin has drastically outperformed the broader market, not to mention Berkshire stock and top Berkshire holdings like Apple (AAPL).

Operating profit, which doesn't include those changes, jumped 49 percent to $5.29 billion during the first quarter as insurance underwriting swung to a profit after a hard 2017.

Partial Transcript of Bill Gates on AppleBill Gates: Well Apple's an awesome company. With the news kickstarting the new week, CNN Money reported that Apple shares rose almost 2 percent on Monday and that the world's biggest tech company by market cap is now worth more than $940 billion.

Fellow billionaire and Gates pal Warren Buffett said the largest cryptocurrency is "probably rat poison squared" at Berkshire Hathaway's annual shareholder meeting on Saturday.

"What I do find monumentally baffling is that two of the world's most successful investors can not see the intrinsic value of some form of cryptocurrency", Nigel Green, CEO of financial consulting firm deVere Group, wrote in a report early Monday.

Buffett: "The nice thing about buying Apple is that I don't care whether anyone mentions Apple again".


Apple is now just US$16 per share short of reaching the much-anticipated US$1t mark. "If you had bought gold at the time of Christ and you figure the compound rate on it, it may be a couple tenths of a percent".

Buffett: "When you buy a farm, you look at the crop every year and what prices are and decide whether it was a satisfactory investment".

"Anytime you buy a nonproductive asset, you are counting on somebody else later on to buy a nonproductive asset because they think they can sell it to somebody for more money", Buffet lectured.

Munger, meanwhile, said Berkshire may have been "a little too restrained" in buying Apple, saying "it's reasonably priced and strong". "With the passage of time, we may own 6 or 7 percent because they repurchase shares". There is no reason at all for me to encourage other people to buy Apple.

The endorsement was well received and Apple CEO Tim Cook responded to the endorsement and appreciation in kind in a statement where he said, "On a personal level, I've always greatly admired Warren and have always been grateful for his insight and advice".


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