Spend money wisely: Buffett warns US as Berkshire reports record profit

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Spend money wisely: Buffett warns US as Berkshire reports record profit - Business Standard

Quick Summary:

While Berkshire has not made a major purchase of an entire company since 2016, Buffett said it is likely to increase its combined $23.5 billion of investments in five Japanese trading houses: Itochu, Marubeni, Mitsubishi , Mitsui and Sumitomo.

He nonetheless assured shareholders they would be in good hands after he turns over the conglomerate's reins to Vice Chairman Greg Abel, saying the 62-year-old Abel has "vividly shown his ability" to deploy capital.

That, he said, is something Uncle Sam can encourage, or take away."Take care of the many who, for no fault of their own, get the short straws in life," Buffett wrote, addressing the government."They deserve better.