Berkshire sets record as Trump boosts prospects, Buffett's wealth

Berkshire sets record as Trump boosts prospects, Buffett's wealth

Buffett, who supported Democrat Hillary Clinton in the election and ferried voters to the polls in his Nebraska hometown, benefited as shares in Wells Fargo & Co. soared 13 percent in the two days after the November 8 election on speculation that a Republican administration would bring less regulation and sideline some of the industry's sharpest critics. "But. every time I go to Walmart and buy them, I don't say, 'Thank God for free trade.'"During a campaign rally with Clinton in his home state of Nebraska in August, Buffett challenged Trump to release his tax returns and questioned the NY real estate developer's business acumen".

Berkshire Hathaway Inc BRKa.N shares posted one of their best weeks in years, soaring 9.5 percent and touching a record high, even though Chairman Warren Buffett's choice for the White House, Hillary Clinton, was defeated by Donald Trump. Suggestions by market pundits that stocks would plunge after a Trump victory were "silly", he said.

But Buffett took a more conciliatory tone Thursday - even as he defended why he still thinks Clinton was the better candidate. "Nobody can grow the economy 4% in real terms over time".

Speaking of stocks, Buffett said he was not surprised to see the market rally after Trump won.

Billionaire donors to the two campaigns overwhelmingly favored Clinton, with 17 members of the Bloomberg index giving $21.1 million to her campaign and its supporting political action committees through September 20, and 12 in the group donating $1.02 million to Trump's election effort.

When asked by Harlow if he had advised Stumpf to step down, Buffett said he had not.

Buffett backed Clinton's presidential bid and, during the campaign, challenged Trump to release his tax returns.

But if President-elect Trump called Buffett asking for advice on the economy, would Buffett offer a hand? "But ... but if any president asks me for help in any way, I mean, that's part of being a citizen", Buffett said.



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