Buffett promised a giant acquisition after financial losses
The American investor Warren Buffett recognized significant financial losses for Berkshire Hathaway, but he did some kind of "gigantic acquisition" in the future.
In a letter to investors, Buffett said his fund Berkshire Hathaway showed the worst earnings per share since 2008. The reason was the problems of the company Kraft Foods, whose shares this week have decreased by 20% following the publication of budgets. As a result, Berkshire lost about $ 4 billion in one day.
However, Buffett promised to shareholders that he still expects a "gigantic purchase". "Even at the age of 88, I feel young, and future prospects make my heart beat faster," said the investor.
At the same time, Buffett admitted that in 2019 it was unlikely that he would make a big purchase, since market prices are too high, and it is not possible to predict the situation this year.
Last summer, the Buffett Foundation increased its stake in Apple to 5%. Berkshire Hathaway also increased investment in the Goldman Sachs group and the Israeli pharmaceutical company Teva.