Star Investor expanding its “powerhouse” What Warren Buffett’s shareholders … – Reuters

Warren Buffett

the Star investor inform investors of its holding company Berkshire Hathaway annual letter. This year, the investors are particularly interested in the content

(Photo: AP).

New York Warren Buffett is an optimist. About the doomsayers in politics that foresee the downfall of America in the raging US election campaign, he can only shake his head. “Many Americans now believe that it will go to their children not as good as themselves.

This view is completely wrong,” Buffett wrote in his letter to shareholders, published on Saturday. “It’s been 240 years not a good idea to bet against America. And now is not the right time to begin with, “said the head of the conglomerate Berkshire Hathaway clear.

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The 85-year-old, who during the election campaign Democrat Hillary Clinton supported, has every reason to be optimistic. Berkshire has made a healthy profit jump in the past year. Profit rose 21 percent to $ 24.08 billion, as the company of Omaha in Nebraska on Saturday also announced.

This was assured by the especially lucrative for Buffett fusion of ketchup manufacturer Heinz with the food group force that he has been threaded together with the Brazilian subsidiary 3G. Berkshire now holds 27 percent of power Heinz. In addition, Buffett has just completed the largest acquisition in company history.

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Berkshire acquired the industrial group Precision Cast Parts for more than 37 billion dollars which manufactures, among other equipment for the aerospace and energy industries. Precision Cast Parts will thus complement Berkshires five large companies that are responsible apart from the insurance business for the majority of the profits.

Buffett refers to the five companies, to which the railway operator BNSF, Berkshire Hathaway Energy and the chemical company Lubrizol include, as its “Powerhouse Five”. “Next year I will then of the Powerhouse Six ‘report,” Buffett wrote proudly. The chief of Precision Cast Parts, Mark Donegan, he called the ‘Davinci his craft “.