Warren Buffett calls stock buyback critics 'economic illiterate' in Berkshire Hathaway annual letter
Publishing timestamp: 2023-02-25 09:20:43
Summary
Warren Buffett defended stock buybacks in Berkshire Hathaway's annual letter, saying they are beneficial to shareholders and provide lift to per-share intrinsic value. He highlighted Apple and American Express, two of his biggest equity holdings that have similar strategies. He also revealed that Berkshire's future CEOs will have significant part of their net worth in conglomerate's shares, bought with their own money.
Sentiment: POSITIVE
Tickers: AAPL, AXP, BRK.B, BRK.A,
Keywords: wall street, stock markets, breaking news: business, markets, warren buffett, apple inc, american express co, breaking news: investing, breaking news: markets, berkshire hathaway inc, investment strategy, business news,
Source: https://www.cnbc.com/2023/02/25/warren-buffett-annual-letter-berkshire-hathaway-stock-buybacks.html