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Warren Buffett says coal won't make a comeback

Warren Buffett says coal won't make a comeback

"We should try to hit both objectives, to make sure there is not roadkill and 320 million people get the benefits of free trade", Buffett said. "He didn't", Buffett said.

Will be in India if I feel there is a good value company for sale, Buffett said.

Throughout his legendary career, Buffett has stressed the importance of investing in products that are tangible, one reason he bought into companies like Coca-Cola and Dairy Queen over the years.

The annual shareholder meeting in Omaha, Nebraska attracts investors from all over the world, some of whom own only a single share in Berkshire Hathaway, Buffett's conglomerate holding company, according to the Financial Times. "We don't like that and we shouldn't use your money that way for a long period of time", he said at the meeting. "In only two years, you'll be eligible for an executive position at Berkshire", Buffett quipped.

But he said Berkshire now has a slight preference for trying to take tax losses, which could have less value if lawmakers in Washington reduce the 35 percent corporate tax rate.

Berkshire and 3G control Kraft Heinz Co KHC.O and recently tried to merge it with Unilever NV ULVR.L UNc.AS for $143 billion, but was rebuffed.

Buffett also raised the possibility Berkshire could pay its first dividend since 1967, if "reasonably soon, even while I'm around", the company had too much cash it could not reasonably deploy.




Berkshire is also a major investor in United rivals American Airlines Group Inc AAL.O , Delta Air Lines Inc DAL.N and Southwest Airlines Co LUV.N .

Buffett told the more than 30,000 people who attended the annual meeting that flawed compensation systems - such as the arrangement that rewarded Wells Fargo employees for meeting aggressive sales goals - can promote the wrong behavior.

According to Forbes, Buffett is the fourth-richest man in the world with a net worth of more than $74 billion.

Shareholders overwhelmingly rejected a proposal that would have required Berkshire to disclose its political contributions twice a year.

Buffett said flawed compensation is also a problem for hedge-fund managers, arguing that people would be better off sticking their money in a low-priced index fund.

"I thought it would do much better", Buffett admitted. Still, Buffett said that layoffs were sometimes necessary to make companies more productive. "We would like to own 100% of any business that we run". In the session, Buffett honored Vanguard founder Jack Bogle's work in creating passive investment funds, saying he has saved investors "tens and tens and tens of billions" of dollars.


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