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· Warren Buffett says Berkshire Hathaway is seeing ‘very substantial inflation’ and raising prices
· Warren Buffett names his successor
Warren Buffett says Berkshire Hathaway is seeing ‘very substantial inflation’ and raising prices
o “We are seeing very substantial inflation,” Warren Buffett said at the conglomerate’s annual shareholder meeting Saturday. “We are raising prices. People are raising prices to us and it’s being accepted.”
o Berkshire Hathaway owns one of the nation’s largest homebuilders, Clayton Homes, along with companies such as Benjamin Moore paints and Shaw flooring.
o Inflation has begun to accelerate recently due to multiple factors, including increasing demand and struggles with some areas of the supply chain, as well as just easier comparisons with the pace of a year ago.
Yun Li, CNBC
May 3 2021
Warren Buffett is seeing inflation among Berkshire Hathaway’s collection of businesses as the economic recovery from the Covid pandemic kicks into high gear.
“We are seeing very substantial inflation,” the Berkshire chairman and CEO said at the conglomerate’s annual shareholder meeting Saturday. “It’s very interesting. We are raising prices. People are raising prices to us and it’s being accepted.”
“We’ve got nine homebuilders in addition to our manufacture housing and operation, which is the largest in the country. So we really do a lot of housing. The costs are just up, up, up. Steel costs, you know, just every day they’re going up,” the legendary investor added.
Berkshire Hathaway owns one of the nation’s largest homebuilders Clayton Homes, along with companies such as Benjamin Moore paints and Shaw flooring...
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Warren Buffett names his successor
By Chris Isidore, CNN Business
May 3, 2021
New York (CNN Business)Warren Buffett said Monday that Greg Abel, the head of Berkshire Hathaway's non-insurance business, will be his successor -- although Buffett gave no indication that he will give up the top job at the conglomerate anytime soon.
Abel has long been considered one of the two men likely to follow Buffett, along with Ajit Jain, who heads Berkshire's insurance business. Both are vice chairmen of the company, along with 97-year old Charlie Munger. Speaking to CNBC Monday morning, the 90-year old Buffett said that Abel is the next in line to follow him, followed by Jain.
"The directors are in agreement that if something were to happen to me tonight it would be Greg who'd take over tomorrow morning," Buffett said. "If, heaven forbid, anything happened to Greg tonight then it would be Ajit."
He praised both men, saying, "They're both wonderful guys."
Munger had appeared to signal that Abel would be the the successor in remarks Saturday at Berkshire's virtual annual meeting. When asked about whether Berkshire had become too complicated to manage as a single company, Munger suggested that the company's decentralized company worked fine...
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