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'I blew it': Warren Buffett laments missing out on Google

16 May 2017

The Berkshire Hathaway chairman, also known as the Oracle of Omaha, said he'd immediately "hop on a plane" to India if the right investment opportunity came up. Buffett said he was happy to gather more money that can be used for takeovers and stock picks.

Listening to chief executive officer Warren Buffett never gets old for the thousands of Berkshire Hathaway Inc shareholders who filled an arena on Saturday to listen to the billionaire investor at the company's annual meeting.

Buffett said USA stocks looked "dirt cheap" for anyone who believed interest rates will stay low for a long time.

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'That is a problem this society is having trouble with and is going to have more trouble " added Buffett, who's previously funded Republican candidates but threw his support behind Democratic presidential candidate Hillary Clinton past year. (NYSE:BRK.A) has announced Friday it has more than doubled its stake in the technology giant to almost $20 billion, or almost 2.5% of the company.

And if Berkshire does decide to pay dividends, it would have to commit to maintaining that payout over time, Buffett said, as cutting it could have disastrous consequences for the company's share price.

Buffett has said Berkshire could have a new chief executive within 24 hours if he died or could not continue, and that nothing had changed just because he praised fewer managers than usual in his February shareholder letter.

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"Change is painful for a lot of people", he said.

"Bonds are a awful choice against stocks", he said. At the meeting, Buffett disclosed that, as Kraft Heinz worked on its now-dead takeover bid for the consumer products giant Unilever, Berkshire was prepared to invest $15 billion in the potential deal.

And in comments that suggested a change in Buffett's outlook on the technology sector, Buffett said he regretted not investing early in Google. Approximately 65 percent of the aggregate fair value of the company was concentrated in the equity securities of five companies: American Express, representing $12 billion, Apple representing $19.2 billion, Coca-Cola $17 billion, IBM $11.2 billion and Wells Fargo $27.8 billion.

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Asked if he had stopped buying, Buffett said: "Maybe, maybe not".