Billionaire Warren Buffett Calls Bitcoin 'Rat Poison Squared'

Elon Musk and Grimes.   Charles Sykes  AP

Elon Musk and Grimes. Charles Sykes AP

Warren Buffett has indicated he would be interested in increasing his stake in Apple, as long as shares in the technology giant were available at the right price.

While Buffett "very much" approves of Apple repurchasing shares, he and Munger expressed scepticism that Apple could find meaningful acquisitions on which to spend cash.

Buffett reiterated his distaste for crypto currency, saying its price is determined only by whether someone else is more excited to own it.

It came two days after Buffett revealed having bought 75 million additional Apple shares, and four days after Apple said it may buy back $100 billion (roughly Rs. 6.7 lakh crores) of stock. The billionaire has praised Apple's decision to repurchase its own stock.

"Please tell us you misspoke", the questioner asked, via an email read to Buffett by New York Times journalist Andrew Ross Sorkin.

The figure make the holding company Apple's third-largest shareholder, behind Vanguard Group and BlackRock.

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Between them - the two biggest players in the iPhone maker's shares - they bought almost one of every 10 Apple shares traded during the quarter, according to Thomson Reuters calculations. But while the S&P 500 has remained in correction territory, Apple shares quickly recovered, and it seems the company and Berkshire were there to help. "If you look at Apple, I think it earns nearly twice as much as the second most profitable company in the U.S".

Apple developers products that Buffett describes as being "extremely sticky, meaning that customers become attached to these products and in turn support Apple as a company".

The comments come after President Donald Trump's recent trade attacks on China including proposed tariffs on $US50 billion worth of Chinese goods and tariffs on imports of steel and aluminium.

The investor also implied that he is willing to invest more in China this year.

However, the "Oracle of Omaha" told investors investing Berkshire's cash stockpile-which now amounts to around $108 billion-was a challenge. As for the current flow of deals, he said his telephone hadn't been ringing off the hook. It actually led Berkshire to a net loss in the quarter, even though operating profit climbed.

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