Warren Buffett And Bill Gates Denounce Bitcoin


In addition to discussing the company's increased stake in Apple, Warren Buffett and longtime business partner Charlie Munger were asked their opinions on cryptocurrencies.

"In terms of cryptocurrencies, generally, I can say with nearly certainty that they will come to a bad ending", Buffett explained.

Buff Daddy made his fortune investing in stable companies that produce simple services and commodities - like gas producers, banks, or beverage-makers.

Buffett, famed for his love of junk food, has said spiraling healthcare costs are responsible for 18 percent of USA gross domestic product, up from 5 percent in 1960, and he wants to slash a few percentage points off. "I went into Apple because I came to certain conclusions about both the intelligence with the capital they deploy, but more important the value of their ecosystem and how permanent that ecosystem could be".

They may be able to do it together.

Elon Musk "super serious" about starting candy company
And until the candy business actually comes to fruition, keep an eye out for Musk's cyborg dragon . "He seems to like it that way".

"I'm starting a candy company & it's going to be unbelievable", he tweeted on Saturday. Not to be out-complimented, Cook gushed that, "on a personal level, [he's] always admired Warren".

Apple said that customers chose the US$999 iPhone X "more than any other iPhone each week" during the March quarter like they did in the December quarter. But the icing on the cake was when, on the eve of its annual shareholder meeting, Berkshire Hathaway purchased 75 million more shares of the tech giant.

"I clearly like Apple". We bought about 5 percent of the company. We like very much the management and the way they think. "We're betting on the success of Apple products like the iPhone, and I see characteristics in that that make me think it's extraordinary", Buffett said. There is no reason at all for me to encourage other people to buy Apple. "With the passage of time, we may own 6 or 7 percent because they repurchase shares".

Berkshire Vice Chairman Charlie Munger says "We'd do a lot better in all our stock picking if we did it in retrospect".

According to reports, Apple is now worth over $120 billion more than its tech rivals such as Amazon at $773 billion, Microsoft with $732 billion, and Alphabet, the parent company of Google, which stands at $719 billion market cap valuation.