Buffett made a lot of news at Berkshire's first virtual annual meeting on Saturday, including revealing that he sold all his airline stocks.
Murray asked via Quick: "This pandemic will graduate a new class of war veterans: Health care, food supply, deliveries, community services. So many owe so much to these few. How might this great country take our turn and care for all of them?"
"The price has not been at a level where it really feels way better to us than other things, including the option value of money, to step up in a big way," he said.Buffett said the criticism towards buybacks is largely uncalled for. "It's very politically correct to be against buybacks now," he said. "There's a lot of crazy things being said about buybacks. Buybacks are so simple. It's a way of distributing cash to shareholders.
Warren Buffett hasn't made a major acquisition in several years despite Berkshire Hathaway's record cash pile. Buffett said"We have not done anything because we haven't seen anything that attractive," Buffett said. "We are not doing anything big obviously. We are willing to do something very big. I mean you could come to me on Monday morning with something that involved $30, or $40 billion or $50 billion. And if we really like what we are seeing, we would do it.
Asked by CNBC's Quick to clarify if Berkshire had sold all of its airline holdings, Buffett answered "yes."
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