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  • Yeah.

  • Billionaire investor Warren Buffett expressed his optimism for America and his company despite the pandemic that struck his businesses.

  • In his widely read annual letter to shareholders released Saturday, he wrote, Never Bet against America.

  • He also expressed his optimism for Berkshire Hathaway.

  • The company bought back a record of nearly $25 billion of its stock last year, signaling that investors have undervalued the conglomerate.

  • His businesses include auto insurer Geico and the railroad.

  • BNSF, who's strong results, helped lift quarterly operating income 14%.

  • James and stocks like Apple drove the bottom line up 23%.

  • Curiously, Buffett did not specifically mention the pandemic in his letter, even though it led to a loss of more than 31,000 jobs in Berkshire's workforce.

  • The health crisis also drained aerospace industry demand for parts, driving his company, Precision Castparts, to cut more than 40% of its workers.

  • Last year, Buffett admitted in the letter that he had overpaid when he shelled out $32 billion to buy it in 2016.

  • He called that mistake a big one.

  • He also disclosed that Berkshire will hold its annual shareholders meeting this year in Los Angeles.

  • Not in Omaha, where tens of thousands of people gather every year for what the Oracle of Omaha calls the Woodstock for capitalists.


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