Warren Buffett: Berkshire discloses enough about itself

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"We're hoping for a deal in the United Kingdom and/or in Europe, no matter how Brexit comes out", the billionaire told his annual shareholders' meeting.

Warren Buffett on Saturday rejected a frequent criticism that his Berkshire Hathaway Inc does not disclose enough about its more than 90, often large operating businesses or its common stock investments.

Buffett also said Berkshire did not need to know the reasoning beyond its investments in stocks generally and foreign stocks, saying it might require the disclosure of proprietary strategies or would not be legally required.

The company reported first-quarter profit of $21.7bn (£16.5bn) yesterday, compared to a $1.1bn loss this time previous year.

Mr Buffett said 3G's management, which is responsible for the day-to-day running of the food company, was doing well operationally. Its annual shareholder meeting is Saturday.

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However, that does not reflect the performance of one of its more troublesome investments, the 26.7% stake in food giant Kraft Heinz, which has not yet filed its quarterly results with the US Securities and Exchange Commission.

BNSF's profit rose 9 percent to $1.25 billion as higher demand from the energy and industrial sectors offset lower volumes attributed to severe winter weather and flooding.

Warren Buffet is 88 and won't be the CEO of Berkshire Hathaway (BRKB) forever.

Berkshire owns more than 90 companies.

Berkshire's Class A shares (BRK/A) closed Friday at $327,765.61, and its Class B (BRK/B) shares closed at $218.60.

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