5425 Production Blvd.,
Surrey, BC, V3S 8P6
Phone 604.530.5758
Fax 604.530.3554
Toll Free
1.888.530.5444
Focused on Parts for John Deere
& Hitachi Late Model Excavators
· Components
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www.langleyexcavator.com
parts@langleyexcavator.com
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FINANCIAL FILE
Berkshire Hathaway owns all or a large part of 90 businesses – from
Net Jets, a private jet leasing operation, to Sees Candies and Fruit of
the Loom. The company also has $100 billion invested in the stock
market.
Those in attendance included Bill Gates and Canada’s Jimmy
Pattison.
Buffet and Munger discussed such varied topics as Valeant
Pharmaceuticals (once Canada’s most valuable company), which they
both found to be a despicable operation, to U.S. real estate.
Although he does not think that the U.S. real estate market is in
bubble territory, Buffet did caution that low interest rates are encour-aging
people to pay higher prices for houses and that those buyers
may eventually lose money.
Berkshire is a large shareholder in two American banks: Wells
Fargo and Bank of America. Buffet is comfortable with these holdings
but cautions that the use of derivatives contracts makes the bank-ing
sector difficult to evaluate. He added that Berkshire would never
agree to a contract it could not easily back in a worst-case scenario.
When asked about the presidential election, Buffet, a long-time
Clinton supporter, assured the assembled shareholders that who-ever
won, American business would adapt and thrive just as they
always have.
A big draw of the Berkshire Hathaway annual general meeting is
the trade show. Most of the businesses owned in part or entirely by
Berkshire are on display.
It is a wonderful reminder of the diversity, ingenuity and resil-ience
of capitalism when you see so many profitable businesses dis-playing
their wares, whether it’s Dairy Queen, Coca Cola, Precision
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cracking, rutting and fatigue while
providing improved life expectancy.
58 Think BIG | Quarter 4 2016 | saskheavy.ca
/saskheavy.ca
/nilex.com
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link