Warren Buffett: Investors handicapped by debt miss 'extraordinary opportunities'

Warren Buffett’s optimism may get tested this year

He noted that Berkshire didn't go on a buying "frenzy" and acquire a bunch of companies previous year, mostly because there were no desirable options that came at a "sensible" purchase price.

"You and I are lucky to have Ajit and Greg working for us", Buffett wrote.

"Our smiles will broaden when we have redeployed Berkshire's excess funds into more productive assets", Buffett wrote.

The letter was considerably shorter than in recent years, a little over 8,000 words compared with more than 14,000 last year, and did not discuss major Berkshire stock holdings such as Apple Inc and Wells Fargo & Co.

Warren Buffett believes investors should avoid using borrowed money to outperform.

Geely Boss Becomes Daimler's Biggest Shareholder By Acquiring $9 Billion Stake
The size of the investment leapfrogs a 6.8% stake in the Stuttgart-based group held by Kuwait and Renault-Nissan's 3.1% holding. Geely plans to start selling a compact five-seat SUV, now marketed under the Lynk & Co brand, outside China from mid-2019.

He also leveled criticism at what he called the "can-do" type of Wall Street CEO, who he said can be over eager to justify gobbling up another company.

"A large portion of our gain did not come from anything we accomplished at Berkshire", he wrote, adding that about $29 billion of that $65.3 billion gain came from changes to the tax law.

"In America, equity investors have the wind at their back", he said.

Berkshire's (BRK.A, BRK.B) book value rose $65B in 2017, or 23%.

It has been more than two years since Buffett made a major purchase, the $32.1 billion takeover of aircraft parts maker Precision Castparts Corp, and his advancing age gives him less time to find more of the "elephants" he prefers. Buffett, Berkshire's chairman and chief executive, and Vice Chairman Charlie Munger will focus on investments and capital allocation under the arrangement.

Trump Criticizes Russia, Iran for 'Disgrace' in Syrian War
Damascus and Moscow say they only target militants, and that they aim to prevent rebels from firing mortars at the capital. The truce proposed in the resolution would not stop attacks on the Islamic State (ISIS) or Al-Qaeda affiliates.

The investor shared the data which revealed Berkshire Hathaway's stock declined by a range of 37 percent to 59 percent multiple times over the last five decades.

Full-year earnings from BNSF, the company's railroad, climbed 11 percent to about $4 billion in 2017 compared to a year earlier.

The year also saw the company's war chest swell to $116 billion in cash and US Treasury bills, financial manna that Buffett wants to use to make significant new acquisitions.

Buffett supported President Trump's Democratic rival, Hillary Clinton, during the 2016 election.

Buffett blasted the belief that bonds were a lower risk investment over the long-term.

Winter storm moves in Saturday
A high in the low 20's will be in effect with increased winds up to 20-30mph today as the pressure gradient tightens. The state Department of Transportation said Friday that snow has closed Interstate 40 eastbound at Ash Fork.

Even so, insurance float, or premiums collected before claims are paid, and which give Buffett more money to invest, rose 25 percent previous year, to $114.5 billion.

Related news:

Hot News

isis-killer-beheading-video-story-top Middlesex Hospital partially opened after man crashes auto into emergency room entrance
Feb 25, 2018 - 00:34
A bomb squad was also dispatched to Ellam's home at 66 Milardo Ln., which was searched by the squad and two bomb-sniffing dogs. The driver was airlifted to Bridgeport Hospital's burn unit in critical condition, reports CBS affiliate WFSB .

isis-killer-beheading-video-story-top The Pentagon Has Delivered Its Transgender Military Proposal To Trump
Feb 25, 2018 - 00:31
McMaster ordered the military to start planning the event for Veterans Day, a senior USA official confirmed Friday to Fox News . CNN previously reported that McMaster has been at odds with the President and other cabinet officials over the a year ago .

isis-killer-beheading-video-story-top Veteran Actress Sridevi Dies At 54 After Suffering Cardiac Arrest
Feb 25, 2018 - 00:29
Born on 13th August 1963, Sridevi has half-Telugu and half-Tamil roots and started her career in Telugu and Tamil films. She acted in several commercially hit films including Tohfa , Chandni , Mr India , Nagina , Chaalbaz among others.

isis-killer-beheading-video-story-top Facing Chelsea means less and less every year, says Mourinho
Feb 25, 2018 - 00:25
There has not been an away win in a league meeting between these clubs since Chelsea's 1-0 triumph at Old Trafford in May 2013. Paul Pogba (centre) wants to feel valued again by Manchester United boss Jose Mourinho (left).

isis-killer-beheading-video-story-top President Trump holds news conference with Australian PM Malcolm Turnbull
Feb 25, 2018 - 00:24
On Friday afternoon President Donald Trump held a joint press conference with Malcolm Turnbull , the prime minister of Australia. Trump said the ship will symbolize the "enduring friendship" between the US and Australia as it sails the open sea.

isis-killer-beheading-video-story-top Microsoft Surface Pro with Surface Pro Pen Launched - Check Price, Specs
Feb 24, 2018 - 11:52
The Signature Pro Type Cover is available for Rs 12,999, the Surface Ark mouse for Rs 6,399 and the Surface Pen for Rs7,999 only. Unveiled previous year , the Surface Pro will be available for purchase in offline as well as online retail.

isis-killer-beheading-video-story-top Teachers Across The Country Are Thinking About Active Shooter Situations
Feb 24, 2018 - 11:51
He said that past efforts to address school safety and gun violence had faded and "nothing ever gets done". And some members of law enforcement who were at the town hall aren't big fans of the idea either.

isis-killer-beheading-video-story-top Eugenie Bouchard and USTA reach settlement over locker room fall
Feb 24, 2018 - 11:49
Her attorney, Benedict Morelli, said it was time for the tennis pro to get on with her life "outside the court, but on the court". It determined the USTA was 75 percent to blame and Bouchard was 25 percent to blame. "We certainly wish Ms.

isis-killer-beheading-video-story-top Ball returning to Lakers' lineup, will be on minutes limit
Feb 24, 2018 - 11:48
Kuzma, the Lakers' second-leading scorer (15.6 points per game) had not commented before the Lakers resumed action against Dallas. Ball has missed the Lakers' last 15 games with a sprained left knee, his last game coming on January 13 against Dallas.

isis-killer-beheading-video-story-top IIHF attempted to force Canada's Jocelyne Larocque to wear silver medal
Feb 24, 2018 - 11:46
The men's curling tournament will conclude Saturday morning when Sweden takes on Team USA in the gold medal game at 1:35 a.m. After 60 minutes of regulation, another 20 in overtime and six rounds in the shootout, that's all that mattered.

isis-killer-beheading-video-story-top Jimmy Butler helped to locker room after suffering non-contact knee injury
Feb 24, 2018 - 11:46
Butler did not put any weight on his right leg as he was helped to the locker room, and he received X-rays after the game. Butler joined the Timberwolves as part of a trade from the Chicago Bulls on draft night last June.

isis-killer-beheading-video-story-top Vonn's Olympic swansong ends in heartbreak
Feb 23, 2018 - 09:00
She approached Thursday's combined calmer than usual, it was a case of, "Hey, let's see what I can do", she said . Coming into these Olympics, the talk was that Shiffrin was going to be the winter version of Michael Phelps.

isis-killer-beheading-video-story-top LeBron James doesn't want the National Basketball Association to change its playoff format
Feb 23, 2018 - 08:57
On Saturday, during an interview after the NBA All Star game, James said, "But we will definitely not shut up and dribble". A layup by reigning NBA MVP Russell Westbrook gave Team LeBron a 3-point advantage.

isis-killer-beheading-video-story-top Ferrari unveil new vehicle for 2018 Formula 1 season
Feb 23, 2018 - 08:51
Ferrari have not won the constructors title since 2008 with Raikkonen last winning the drivers title for Ferrari in 2007. Last year, Ferrari was in the championship hunt until the self-destruct button was pressed in Singapore.

isis-killer-beheading-video-story-top Enormous mushroom cloud of ash towers into sky after Indonesian volcanic eruption
Feb 22, 2018 - 01:24
The volcano in North Sumatra, which has been active since 2010 after centuries of dormancy, erupted explosively on Monday morning. Head of National Volcanology Agency Kasbani said the hot ash slides 4.9 km to the southeast of the crater and 3.5 km to the east.