Fears of trade war: Buffett, a highly respected United States investor, made his comments amid fears that Trump's hardline trade stance toward China could cause the world's two biggest economies to go head to head in a damaging trade war.
Berkshire clearly has an appetite for tech stocks.
Many shareholders say they trust that Buffett has a solid succession plan in place.
"It is just too big and too obvious. that the benefits are huge and [that] the world is dependent on it in a major way for its progress [for] two intelligent countries [to] do something extremely foolish".
Yet Charlie Munger, Buffett's longtime business partner and a Berkshire vice chairman, suggested that Democrats could take over Congress after November's elections and push for a national healthcare system financed by a single payer.
The US and China have a lot of common interests, and despite the recent tensions (read trade war) between the two economic superpowers, both the countries have a lot to gain by working together at present.
"I don't think there are unusual profits involved in the ownership, Buffett said of real estate businesses".
Shortly before the meeting, Berkshire ended its more than year-long stretch of falling operating profit, while a new accounting rule caused the conglomerate chaired by Warren Buffett to suffer an overall net loss.
"Cryptocurrencies will come to bad endings", said Buffett, 87.
Seismic incident kills four at Sibanye-Stillwater mine
Earlier this year, 955 miners were trapped following an electricity outage at the Sibanye Gold mine in Welkom. When asked if they were still alive, he said that had not been established yet.
Berkshire investors are also eager to see how Buffett might spend the company's $116 billion in cash and short-term investments.
Buffett, famed for his love of junk food, has said spiralling healthcare costs are responsible for 18 percent of USA gross domestic product, up from 5 percent in 1960, and he wants to slash a few percentage points off.
"The overriding question is how is American business going to do over the course of your lifetime", Buffett said.
Apple shares are up 8.6 percent this year. That helped the company to a net loss of $1.14 billion, or $692 per share, compared with net income of $4.06 billion, or $2,469 per share, a year earlier.
Outside the convention center, Berkshire shareholders lined up for prime seats in the middle of the night.
Last year, Berkshire Hathaway posted net earnings of $44.9 billion, but almost two-thirds of the gain came from a one-time $29 billion tax windfall from the new tax law passed by Congress in December that reduced the corporate income tax rate from 35% to 21%.
"I think we'll have a CEO within a couple of months", Buffett said.
When Buffett showed up to look at a BNSF model railroad, a wall of media and shareholders, some holding Buffett figurines, crowded around him as he inched along.