A huge tax cut for guys like me

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The annual shareholder meeting in Omaha, Nebraska attracts investors from all over the world, some of whom own only a single share in Berkshire Hathaway, Buffett's conglomerate holding company, according to the Financial Times.

Now, ET Now has decoded insights from Warren Buffett's views.

This "incentivized the wrong type of behavior", and former Chief Executive John Stumpf, who lost his job over the scandal, was too slow to fix the problem, Buffett said.

Ranged against them are sceptics such as the billionaire ex-mayor of New York, Michael Bloomberg, who see the decline as more due to automation and the shift to more easily accessible fossil fuels such as oil and natural gas. "It would be no fun to go through life and say, 'I'm doing this for the greater good, and so that shoes or underwear was all for 5 percent less'".

Buffett said India is a huge and enormous market for anyone to ignore.

Buffett also argued that when Wells Fargo turned the other way when fraudulent accounts had been created, it only continued to contribute to the toxic culture, according to the Times. "I'm looking forward to hearing him as much as everybody else". "People live better when there is more output per capita".

Though Warren Buffett has long championed dividend stocks as part of his investment philosophy, when it comes to his own company, Berkshire Hathaway (brk.a), the investor has been loath to pay dividends.

Buffett is least excited by driverless cars and trucks, saying they pose a threat in many ways.

He also said that a lot of the benefits of lower corporate taxes would likely be competed away.

"Bonds are a awful choice against stocks", he said.

On 3G, with which Berkshire controls Kraft Heinz Co and tried to merge it with Unilever NV, Buffett acknowledged a dislike for the cost-cutting for which the Brazilian firm is known.

Vice chairman Munger reminded the meeting "you've got to remember railroads were a awful business for decades and decades and decades, and then they got good".

Apple has ticked all of Mr. Buffett's boxes of late, and with an iconic brand and ever-improving product portfolio, Berkshire Hathaway Inc.

He said he had grown more fond of Apple Inc AAPL.O , in which Berkshire has disclosed a roughly $20 billion stake, because he could "very easily determine" the iPhone maker's competitive position "and who is trying to chase them".

"I just love hearing them answer questions", Mueller, 70, said.

"I was impressed with Jeff early".