Warren Buffett shareholder letter says Berkshire posted $29 billion gain from tax cut law

Warren Buffett got right to the point Saturday in his folksy and blunt annual letter to investors.

The billionaire and CEO of Berkshire Hathaway highlighted a $29 billion tax gain for his company, bemoaned a lack of good deals and reminded his readers that owning stocks through low-cost index funds was the best way to build wealth over time.

Buffett's yearly check-in with his company's shareholders is a closely watched event on Wall Street and Main Street. He is among the world's best investors, and his insights and nuggets of wisdom on the economy and financial markets, as well as his investment advice, are always in demand.

In 2017, Berkshire saw its net worth grow $65.3 billion, boosting its per share book value by 23%, according to Buffett's letter, published on Saturday. He noted, however, that only $36 billion came from Berkshire’s business operations.


Source : usatoday