Buffett says his successor will still make deals
OMAHA, Neb. - Billionaire Warren Buffett says some of the deals he's made for Berkshire Hathaway might not be available to his successor one day, but that person will still make deals.
Buffett said some of the deals he made during the financial crisis of 2008 might not be deals his successor could make because Goldman Sachs and General Electric both wanted his endorsement along with Berkshire's money.
But Buffett says his successor will still be able to make big deals because Berkshire has nearly $40 billion cash on hand and is willing to invest large amounts quickly.
Buffett says deals like the Goldman and GE ones haven't been as important to Berkshire as investing in Coca-Cola stock or buying entire businesses such as Iscar metalworking and the Burlington Northern Santa Fe railroad.
MSN.ca Money's editorial goal is to provide a forum for personal finance and investment ideas. Our articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Microsoft of any specific security or trading strategy. An investor's best course of action must be based on individual circumstances.
Is now a good time to buy a house?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- Yes, prices will continue to rise.
- No, Canada is facing a housing bubble and prices will eventually fall.
- I don't know.