Investor Warren Buffett to make lengthy TV appearance Monday

Investor Warren Buffett to make lengthy TV appearance Monday

The famous investor says he's investing heavily in Apple, believing that once consumers begin using the company's varied products they aren't likely to stop.

Buffett re-emphasized points he's made in the past, such as his advice to avoid high Wall Street fees by investing in low-priced index funds. Vanguard and Blackrock, for instance, Apple's No. 1 and No. 2 largest outside investors, mostly own the stock due to their index funds.

"What I do know is that when I take a dozen kids to Dairy Queen, which I do every Sunday, they're all on their iPhones", Buffett said. In 2005, he bet $500,000 that no investment professional could find five hedge funds that would match the performance of an index fund tracking the Standard & Poor's 500-stock index over the long run.

"Our expectation is that investment gains will continue to be substantial - though totally random as to timing - and that these will supply significant funds for business purchases", Buffett wrote in the letter.

"That doesn't mean they can't criticize him or they can't disagree with what he's doing maybe", Buffett said. He plans to donate the money to Girls Incorporated of Omaha, a charity. Back in 2011, he famously said that his conglomerate Berkshire Hathaway had held very few AAPL shares in the past 'and we're likely to hold very few in the future.' The reason, he said, was that the company's future was too hard to predict.

But aside from that, Buffett largely used the rest of the letter to reiterate points he has made before about the economy and investment fees. People familiar with the matter have previously said that Weschler, 55, studied up on the airline industry previous year after seeing a presentation from American's CEO Doug Parker, who argued that consolidation had ended the boom-and-bust cycle that had plagued his company and competitors for decades.

The 2016 contest had 85,000 entries, and Buffett said he thinks they'll get over 100,000 this year. He said Berkshire Hathaway energy is a leader in this area, noting the megawatt-hours his companies generated from wind in 2016 equaled 55 percent of all megawatt-hours sold to its Iowa relations customers.

Therefore, I'm expecting Buffett to try and put investors' minds at ease and discuss his thoughts on the Trump presidency.

Book value per Class A share, reflecting assets minus liabilities and which Buffett calls a good measure of Berkshire's intrinsic worth, rose 11 percent to $172,108.

Apple stock, which already ranks as the best-performer in the Dow Jones Industrial Average, closed Friday at $136.66. Berkshire Hathaway released its closely watched annual report on Saturday.



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