Warren Buffett said on Saturday he could not imagine Washington allowing the U.S. to default on its debt by refusing to raise the country’s debt ceiling, and risk disrupting the world’s financial system by letting the world “go into turmoil.”
Vice Chairman Greg Abel, 60, who would become CEO if Buffett were no longer in charge, and Vice Chairman Ajit Jain, 71, are also taking some questions.The meeting is the centerpiece of a weekend Buffett calls “Woodstock for Capitalists” that draws tens of thousands of people to Omaha. It also includes shopping discounts and events around the city.
Berkshire also said it bought back $4.4 billion of stock in the quarter and sold $13.3 billion of other company’s stock, signaling greater confidence in its own shares. Many recognized it could be one of their last chances to see Buffett and Munger, given their advanced ages.