Berkshire Hathaway's Annual Report and Warren Buffett's Letter to Shareholders

SOURCE finance.yahoo.com
Berkshire Hathaway reported record profits and increased its cash stake to $334.2 billion. Warren Buffett urged Washington to spend money wisely and take care of those who face challenges in life. He also announced plans for Vice Chairman Greg Abel to take over reins soon.

Key Points

  • Berkshire's third straight record annual operating profit
  • Buffett's warning to Washington about fiscal responsibility
  • Plans for future investments in Japanese trading houses

Pros

  • Record annual profits reported by Berkshire Hathaway
  • Increased cash stake to $334.2 billion
  • Plans for smooth transition to Vice Chairman Greg Abel

Cons

  • Concerns about soaring fiscal deficits
  • Potential negative impact of extending tax cuts