Buffett: Auto insurance rates are going up, distracted drivers a problem

In his letter, Buffett said “some commentators bemoan our current 2 percent per year growth” in real gross domestic product, “and, yes, we would all like to see a higher rate”.

This morning, the Berkshire Hathaway CEO, Warren Buffett, went on CNBC and announced a unique incentive for all of his employees this month.

Warren Buffett, famous for advocating greed when others are fearful, said he’s not anxious about recent stock turbulence because he’s optimistic about the state of American business.

Billionaire Investor Warren Buffet’s hedge fund, Berkshire Hathaway, reported a $15.4 billion increase in net worth despite an unimpressive stock performance, as the company increased its position in its main American Express Company (NYSE:AXP), International Business Machines Corp. “We’ve done that on a few occasions with stocks and bonds over the years”.

He said he has been wrong before, noting Berkshire’s investment in troubled British grocer Tesco PLC, which he characterized as a “huge mistake” in 2014.

Another issue addressed by Buffett was Berkshire’s Clayton Homes mobile home unit, which has recently been under fire over allegations that the company discriminated against blacks and Hispanics. Longer term, however they’re big-time market beaters.

Despite his bullish tone, the so-called Oracle of Omaha sounded alarm bells over negatives interest rates in Europe, calling it an experiment with unknown consequences that distorts valuations. “And, yes, America’s kids will live far better than their parents did”, Buffett, who has endorsed Hillary Clinton for president, wrote in the letter.

“What I like about Bernie Sanders is he’ll say exactly what he believes”.

He weighed in on a privacy fight between Apple Inc and the US government, saying privacy should trump security in smaller cases, but security should trump privacy in major cases. “If I could just find a person who I trusted to sleep on the mattress, that’s what we would do”. “Operators are standing by”, he said.

After those deals, Buffett said Berkshire now owns 10¼ companies that would be big enough to be included in the Fortune 500 list if they were still independent.

He also said he hoped Britain would remain in the European Union and avoid a “Brexit”.