Buffett said that the world depends on the U.S. and China for progress, dismissing concerns that the two countries' trade tensions could potentially escalate into a trade war.
Berkshire Hathaway is looking to "find big things to do" in big and growing economies that hold potential, such as China, Buffett said in a video released at the US-China Investor Forum held one day prior to the shareholders meeting.
"I do not believe on imposing my political opinions on the activities of our businesses", Buffett said, drawing applause from the admittedly pro-free-market crowd.
Earlier this week, Buffett revealed that he had bought 75 million additional Apple shares, which means that Buffett now owns approximately 5 percent of Apple.
Speaking at Berkshire Hathaway's annual shareholder meeting, the billionaire praised Apple for choosing to buy back its own stock, after the company announced last week it could buy back as much as $100 billion worth of stock. Berkshire is now Apple's third largest shareholder, behind Vanguard Group and BlackRock Inc.
Buffett faces a challenge investing Berkshire's more than $108 billion of cash and equivalents, including for acquisitions, saying his "phone is not ringing off the hook with good deals".
Teen Arrested for Allegedly Planning an ISIS-Inspired Mass Shooting
The teen had allegedly sent out more than $1,400 to others to purchase weapons and gear to carry out the attack. The criminal solicitation charge stems from Azizi's attempt to involve others in the planned attack.
"I love the idea of having our 5 percent, or whatever it is, maybe grow to 6 or 7 percent without our laying out a dime".
And Mr Buffett described it as a mistake that he never thought Alphabet's Google and Amazon.com made sense as investments for Berkshire.
"Please tell us you misspoke", the questioner asked, via an email read to Buffett by New York Times journalist Andrew Ross Sorkin. Vetr raised Berkshire Hathaway from a "hold" rating to a "buy" rating and set a $212.93 target price on the stock in a report on Monday, February 5th.
That compares to a profit of US$4.07 billion in the same quarter of a year ago.
The billionaire investor said USA corporate tax cuts were good for shareholders but cautioned that the long-term effects of economic choices could be hard to gauge. "I don't think they will hang up if I don't answer, if they need the money".
Berkshire Hathaway (NYSE:BRK.B) last posted its quarterly earnings results on Saturday, February 24th.