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.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Top Stories

  • New Capital Gains
    Gov. Inslee said he tried to avoid it, but he proposed new taxes to help fill a budget gap

  • 'It Was My Turn'
    K.J. Wright has signed a $27 million, four-year extension with the Seahawks

  • Holiday Map
    Find holiday events, Santa photo opportunities, and light displays
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.