(May 5, 2018) Buffett is "delighted" Apple is buying back $100B of its shares as Berkshire dramatically increases its stake in the iPhone maker. He also reveals why Berkshire won't be buying Microsoft stock, predicts cryptocurrencies will come to "bad endings," describes the goals for his new partnership with Amazon and JPMorgan on health care costs, and gives a master class on ignoring news headlines while making investment decisions.
In 2017, Berkshire's 23.0 percent increase in per-share book value and a 21.9 percent gain for its stock both slightly outpaced the S&P's 21.8 percent advance. Berkshire's net worth soared by $65.3 billion during the year. But in his annual letter, Buffett noted that $29 billion of that was "delivered" by Congressional passage of a big tax-cut bill.Read 2017 Letter (Dated Feb. 24, 2018)