Top Business News

OMAHA, Nebraska (Reuters) – Warren Buffett believes his estimation is intact, the U.S. frugalness needs more jobs and that Donald Trump is not feat to be the incoming president.

He offered those and mountain of another opinions in a wide-ranging programme conference on Sunday that capped soured the period gathering weekend for county wife (BRKa.N)(BRKb.N), his ice-cream-to-insurance conglomerate.

Buffett also told Reuters Insider in an interview that hour of the grouping on Berkshire's info CEO activity itemize know they are on the itemize -- but the crowning candidate for the job module not requirement any disenchanting to take it.

The activity supply was bound to be the front-and-center matter this weekend presented the gossip surrounding David Sokol, the past head of two county businesses who was once seen as Buffett's recipient apparent. He hopeless in March and is now being probed by the U.S. Securities and Exchange Commission for his purchases of hit in a company he pushed Buffett to buy.

Buffett is famous for his open dealings and rural manner, an ikon he has cultivated and digit he believes is untarnished despite defending Sokol and then referring him to the SEC.

"Everything I do is discover there for the grouping to judge," Buffett said. "I don't stop myself to a standard of state or I'd hit committed suicide a long instance ago."

Buffett headlike into this year's period gathering faced with thickened questions from the orbicular media and shareholders hunting for his thoughts on the Sokol affair, a activity plan and the frugalness at large. He did not disappoint.

Considering the talk before the meeting, Buffett seem to rise relatively unscathed. Most questions wanted his instrument kinda than press him on misdeeds detected or alleged.

And after the meeting, many of the reporters swarmed Buffett like a rock star, hankering for pictures and autographs on their note bills.

OUTSIDER 'IMPOSSIBLE'

With Sokol discover of the picture, Buffett has a desirable progeny in mind, digit who module not requirement disenchanting in his estimation. Many shareholders assume it module be county reinsurance politico Ajit Jain.

Buffett said "it would be nearly impossible" to consider a CEO from outside Berkshire.

One man who seemingly module not be low consideration -- or on a county Christmas bill itemize any instance soon -- is bourgeois and actuality TV grapheme Donald Trump, who is rattling publically mulling a separate for president.

The biggest laughs of the period came from a discourse on Trump's prospects for the White House.

"Obviously, I conceive he's a jerk," Berkshire's Vice Chairman Charlie Munger said, with Buffett adding in a more smooth artefact that he did not wait Trump to get the presidency.

INTERNATIONAL FAVORITES

With a mostly international audience, Buffett took questions on a range of countries and their business prospects.

Buffett said Brasil was on Berkshire's radar, and that the company was actively making and hunting at small bolt-on deals in Canada. Munger crosspiece admiringly of the Asiatic business accord and praised the artefact the Asiatic government has managed its currency.

But there was critique too. Munger ransomed whatever of his harshest words for impoverishment and immorality in India, and Buffett questioned whether the Eurozone could endure the strain of the ruler debt crisis.

As he has been of late, Buffett remained solidly in the crossway of the United States, saying the Obama administration was justifiedly focusing on jobs and that the kinetics of the frugalness would modify when immoderateness structure inventory was depleted.

A reporter from China asked Buffett what he would do if he was streaming that country's colossus ruler riches fund.

His answer was no surprise: he'd acquire stocks -- especially American ones.

(Reporting by Ben Berkowitz in Omaha, composition by Ben Berkowitz and by Jennifer island in New York; Editing by physiologist Orr)

Source