Warren Buffett opened the Berkshire Hathaway annual conference on Saturday with a critical review of the American epidemic recovery, saying business was “very good” in some areas of the economy.
In his annual address to shareholders in Berkshire, 90-year-old financial institutions, said US capitalism had “worked surprisingly well”.
“This has been a very unusual decline,” Buffett said. “At the moment business is the best in many sectors of the economy. . . however there are problems if you are in several businesses that have been destroyed. ”
He sat in the first session of the conference before opening the questions of shareholders through a list of the 20 most important companies in the world, in 2021 and 1989.
“We had a future map, a wish map that maybe 232 years later leaves us with five of the top six companies in the world,” he said. “This isn’t an accident and it’s not because we were smart or very strong, or anything.”
But he warned that “the world could change in the most dramatic way,” as he pointed out in the 1989 series, which was dominated by Japanese groups.
The date is one of the expectations of shareholders in Berkshire plague forced the company to become a real brand. This year Buffett was joined by longtime business associates and Berkshire vice-chancellor Charlie Munger, as well as Greg Abel and Ajit Jain, the two men who have been welcomed by his landlords to become his successors.
The event is expected to remain restrictive, with no crowd of traders descending on Omaha for the annual meeting or Starred commercial video that he had previously included Bryan Cranston and Aaron Paul of TV Breaking Bad and Rainn Wilson as Dwight Schrute from the US Office.
The four men are speaking in Los Angeles, where Munger lives, and are said to have taken questions about three and a half hours before the committee set up a daytime business.
Advertisers still have hours to wait to hear the results of one of the most important events of the day: how shareholders voted two sales ideas which would encourage Berkshire to articulate its efforts to address climate change and diversity and be integrated with staff.
The Berkshire Council has advised shareholders to vote on the two proposals, drawing criticism from others. California Public Empireyees’ Retirement System and treasurer Neuberger Berman will block votes from several directors to be re-elected to the company’s board on Saturday.
Others, including one of the company’s largest shareholders – Norges Bank – have endorsed the two ideas. The idea is still to rise in the war, based on the company’s design and Buffett’s high-profile vote.
Ron Olson, director of Berkshire and partner in firm law Munger Tolles & Olson, told Yahoo Finance on Saturday that he expects the two ideas to be overcome.
Earlier in the day, the company said it did made a profit of $ 11.7bn, or $ 7,638 per share share, since last year’s loss of $ 49.7bn, or $ 30,653 share.