Warren Buffet regrets missing out on Google and Amazon


"The main problem was they didn't act when they learned about it".

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

He singled out the company's founder and chief executive officer, Jeff Bezos, for praise.

But, he said, "it is absolutely essential to America that we become more productive, and 3G was "very good at making a business productive with fewer people". When a protester from Germany delivered a long speech decrying Coke, sugar and capitalism itself, Buffett said he would continue to drink his favorite beverage, Cherry Coke.

Buffett said such shifts help millions of people by providing necessities at a lower cost. Buffett said at the time that 'Apple strikes me as having quite a sticky product'.

In February, Barclays analyst Jay Gelb said that cutting the corporate tax rate even to 20 percent could boost Berkshire's book value by $27 billion because of a decline in its deferred tax liability.

"So it is a huge tax cut for guys like me", Buffett said.

"It should replace people in a big way, unless some other products do the same thing", he said, noting Watson's potential for reading X-rays faster and better than humans, CNBC reported.

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As usual there was an very bad lot from the Berkshire Hathaway AGM in Omaha on the weekend. That kept Berkshire from losing money in the dot-com stock bubble that burst in 2000, but it also meant missing the chance to invest in Google.

Despite softer sales in the most recent quarter, consumer loyalty to the iPhone is "huge", Buffett said.

Buffett is least excited by driverless cars and trucks, saying they pose a threat in many ways. "And when there's a tax cut, either the deficit goes up or they get the taxes from somebody else".

Berkshire's top two executives on Saturday acknowledged that they missed out on investing in Google years ago, but they expressed pride in the company they built through acquisitions and said they believe it would thrive for decades to come. He also said that rising health care costs are what's holding back economic growth, not high taxes. "So they have gained a 5- or 6-point advantage", he said.

During the interview, Buffett spoke on how he sees progress in India and that he is not anxious about the world's economic environment, adding the United States will prosper more if rest of the world prospers.

He said the company has 'run into some pretty tough competitors'. "Greater productivity will benefit the world in a general way, but to be roadkill, to be the textile worker in New Bedford" is a painful experience, he added.

"I think it's a neat way to keep the enthusiasm up in shareholders", said Jerry Meyer, who drove to Omaha with family from Coffeyville, Kansas.