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Trump's plan to cut corporate tax would be profit tailwind

17 Mai 2017

Even the world's most famous investor, also known as the Oracle of Omaha, has regrets.

Jay Gelb from the analyst panel asks if Berkshire will consider raising its buyback floor higher than 120% of book value, reminding the audience that Mr. Buffett said past year that raising the floor might be an option if Berkshire had $100 billion or $120 billion in cash sitting around and it "really becomes apparent that we cannot use capital effectively within the company".

Billionaire Warren Buffett says growing health care costs continue to be a drag on the performance of USA businesses, and he's not sure the reform package Republicans passed will do much to help that.

"So it is a huge tax cut for guys like me", Buffett was reported saying by Reuters. "And those who haven't been through cycles before are more prone to speculate than people who have experienced the outcome of wild speculation", he added.

We tend to agree with Mr. Buffett and we're not alone.

Among the bank's many mistakes, "there was one that dwarfs all the others", Buffett said.

Berkshire now owns 133 million shares of Apple, which Buffett said behaves more like a consumer-products company than a tech company.

The world's second richest man - according to Forbes' 2017 ranking - explained how healthcare costs were a bigger problem for American businesses than high taxes.

Many hundreds of shareholders started lining up outside the CenturyLink Center, including several who said they got there almost five hours before doors opened at about 6:45 a.m.

"They might even wish to set an example by engaging for something far lower than what you could say their true market value is", Buffett said.

"We do view them very differently", he said.

Buffett also argued that executives at Wells Fargo, in turning a blind eye to the creation of fraudulent accounts to meet sales goals, had fostered a toxic culture.

When Buffett toured the exhibit hall where Berkshire Hathaway companies are selling their products, he was again surrounded by a pack of reporters, shareholders and security officers.

The idea underpinned a larger question of succession planning at Berkshire.

Buffett is a Democrat who is said to be close to former President Barack Obama.

Berkshire Hathaway has previously said it was willing to buy back stock, but dividends would mark a a dramatic reversal from just a few years ago, when Buffett had opposed a shareholder proposal calling for Berkshire Hathaway to start paying them.

Trump's plan to cut corporate tax would be profit tailwind