In his much-anticipated annual letter to shareholders, Buffett explained that the company's net gain of $65.3 billion in 2017 was only partly due to his employees' efforts.
Buffett says many businesses have overpaid for acquisitions in the past year because of that kind of optimistic attitude.
"In our search for new stand-alone businesses, the key qualities we seek are durable competitive strengths; able and high-grade management; good returns on the net tangible assets required to operate the business; opportunities for internal growth at attractive returns; and, finally, a sensible purchase price", Buffett said.
So Berkshire held almost $116 billion in cash and short-term bonds at year end.
The company's often-impressive pace of acquisitions had slowed previous year, he noted, when the prices asked for businesses 'hit an all-time high, ' amid what he called 'a purchasing frenzy'. "Berkshire's goal is to substantially increase the earnings of its non-insurance group".
Berkshire Hathaway didn't make many big acquisitions in 2017 because asking prices were so high. "We certainly have the resources to do so", he wrote.
The letter was considerably shorter than in recent years, a little over 8,000 words compared with more than 14,000 last year, and did not discuss major Berkshire stock holdings such as Apple Inc AAPL.O and Wells Fargo & Co WFC.N .
Buffett urged investors to stick with stocks even though they can be riskier in the short-term.
Berkshire also owns clothing, furniture and jewelry firms.
Warren Buffettreleased his annual letter to shareholders Saturday, saying a large portion of Berkshire Hathaway's 2017 gains came from nothing the company did, but came from the federal tax overhaul passed past year. The book value, which Buffett encourages as a use of valuing a Berkshire investment, increased 23 percent per share.
Gregory Abel, who had run Berkshire Hathaway Energy, is now overseeing Berkshire's non-insurance businesses such as the BNSF railroad and Dairy Queen ice cream, all of which employ 330,000 people, while insurance specialist Ajit Jain oversee the Geico auto insurer and other insurance businesses, employing 47,000.
'Only $36 billion came from Berkshire's operations, ' he wrote.
"Each has been with Berkshire for decades, and Berkshire's blood flows through their veins", Buffett wrote.
The company's full-year earnings shot up 87 per cent to $44.9bn, though Buffett admitted only $36bn came from Berkshire's operations.
Buffett also said that while Berkshire's insurance holdings would take a $2 billion after-tax hit from losses caused by hurricanes a year ago in Florida, Texas and Puerto Rico, other reinsurance companies did far worse.
Insurance float, or premiums collected before claims are paid, which gives Buffett more money to invest, was about $114bn at year end.
TONIGHT: Our active weather pattern will come to an end for a little while tonight as this final batch of rain moves out. Evacuations grew elsewhere across the Midwest after heavy rains and snowmelt sent rivers and streams out of their banks.
A stronger dollar can make oil and other commodities denominated in the U.S. currency more expensive for other currency holders. OPEC wants to reduce inventories held by industrialized nations to their five-year average and is getting closer to that goal.
Deenihan said Ortiz and his wife have six other children and hopes the arrest will bring "some level of closure" to the family. He was just an innocent kid whose trust and safety was betrayed by the one man he should never have to question.
Greitens had acknowledged the affair but denied the blackmail allegation. "It is essential for residents of the City of St. Greitens surprised many experts by defeating Democratic Attorney General Chris Koster in the November 2016 election.
Jones has said there is "officially ... about a 90 percent chance" the attack in Florida was a "deep state false flag operation". YouTube did not immediately respond to a request for comment about the conspiracy video, or its policy for similar situations.
The maid was one of millions of Filipinos who travel overseas to work as maids, hotel staff and construction workers. The Philippines is a major labour exporter with about a tenth of its more than 100 million people working overseas .
Diplomats - and even a mutual friend, golfer Greg Norman, who was at the White House on Friday - rushed to fix the damage. Prime Minister Malcolm Turnbull has honoured the only Australian buried at Arlington National Cemetery in Virginia.
What this means is that users will be able to have Assistant handle a handful of separate tasks with a single command. Meanwhile, Google has worked closely with OEMs to improve the Assistant experience on third-party devices.
The pay-per-view possibilities alone would be delicious, although the game would probably be unlikely during the season. The Rockets will look to run their win streak to 12 games when they visit the Denver Nuggets Sunday night.
Israeli satellite imagery has confirmed the deployment of Russia's newest Sukhoi Su-57 stealth fighter jets in war-torn Syria . The list of adversaries Russian Federation would need Su-57 fighters to combat is uncomfortably short.
SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) was the target of a large decrease in short interest in the month of January. A number of other hedge funds and other institutional investors have also recently modified their holdings of the business.
Among the potential problems: repeated amendments that he had to make to a form detailing his contacts with foreign officials. A source familiar with the matter said earlier this week that the situation had caused tensions between Kushner and Kelly.
Finally, people who spend two hours a day on a hobby are 21 percent less likely to die early. "Maybe that can tell us something". Moderate drinking, however, was not the only activity reported by The 90+ Study that had a positive impact on longevity .
His decision to call a news conference came after a new allegation of sexual harassment was made by an unidentified individual. Two-thirds of Australian voters wanted Joyce to resign, The Australian newspaper's Newspoll showed earlier this week.
The International Olympic Committee will decide today if the country can use its flag at tomorrow's closing ceremony. That's why bobsled pilot Nadezhda Sergeeva proudly wore a t-shirt that proclaimed, "I don't do doping ". "I feel it.
Analysts await Royal Bank Scotland plc (The) (NASDAQ: RBS ) to report earnings on Feb, 23 for the fiscal quarter ending Dec 2017. Simon Warren tweeted: " Royal Bank of Scotland has returned to profit for the first time in a decade".
However, United cannot afford to lose on Sunday as a defeat could most definitively drag them down to a scrap for fourth. Willian is likely to keep his place though after scoring and also hitting the woodwork twice against the Catalan giants.
IN has progressed steadily all season, understands what coach Archie Miller expects and have learned how to challenge everyone. As a guaranteed top-four seed, Ohio State is locked into a double-bye into the quarterfinals, which will be held on Friday.
Stay tuned for important updates! An already unsettled weather pattern is making things uncertain for the next 24 to 48 hours. Northwest of DFW, it will reach freezing, so a Winter Weather Advisory has been posted in the areas northwest of Fort Worth.
Sridevi is honoured with Padma Sri award in 2013 by Government of India, while other honours and awards are unlimited for her. Legendary Bollywood actress Sridevi passed away late on Saturday night following cardiac arrest, India media reported.
While the deal has already been agreed upon, it cannot be made official until the start of a new league year on March 14th. Peters then left the field without having been ejected, infamously returning a few minutes later without socks.
As mentioned above, the calls have been happening on a daily basis since October of 2017, with an average of 20 calls each day. A single facility seems to be at fault for hundreds of false alarm 911 calls from Apple devices over the past few months.
It'll be an interesting move by Reliance Jio because it can still bring over most of its KaiOS-based apps to Android Go devices . Android Enterprise Recommended could make Android phones more appealing to enterprises who need resilience and manageability.