Buffett reassures investors on his firm's future

OMAHA, Neb. (AP) -- Billionaire Warren Buffett says he remains confident in his company's prospects even though he recommended in his will that most of his wife's inheritance be invested in an S&P 500 index fund.

Berkshire Hathaway's chairman and CEO spent hours answering questions Saturday at the conglomerate's annual meeting in Omaha.

Buffett says all his Berkshire stock will go to charities after his death, and he has urged all the recipients to hold the shares as long as possible.

Buffett says his plan for his wife's inheritance is designed to provide peace of mind, not generate growth.

Buffett told shareholders that he keeps looking for possible acquisitions for Berkshire and that he would sell stocks or even take on debt if he needed more than the $49 billion on hand.

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