Berkshire Hathaway bought back about $1.3 billion of its own stock last year, but Warren Buffett says that figure could go waaay up.
Warren Buffett’s Berkshire Hathaway Inc. bought back about $1.3 billion of its own stock last year, but the billionaire investor says in a new interview that figure could wind up totalling as much as $100 billion over time.
Buffett does not welcome the prospect of Berkshire stock one day trading at a “fair” price while other companies’ stocks appear expensive. “That’s my nightmare,” he told the FT. Last year, Berkshire approved a plan to allow it to repurchase shares whenever Buffett or Vice Chairman Charlie Munger deem it worthwhile.
Elsewhere in the Financial Times interview, Buffett brushed off questions about his eventual successor, and said he has no plans to step down anytime soon.
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