Warren Buffett said Berkshire Hathaway is considering investing in Canada.
OMAHA, Neb. – Warren Buffett said: Berkshire Hathaway We are considering investing in Canada.
“We don’t feel comfortable investing money in Canada in any form,” he told a stadium packed with investors Saturday. “In fact, we are only looking at one thing right now.”
Billionaire investors have invested in this country in the past. He previously took a roughly $300 million position in Home Capital Group, which investors took as a vote of confidence in the troubled Canadian mortgage insurer.
The “Oracle of Omaha” said at his annual shareholder meeting that he does not expect to make significant investments outside the U.S., calling his recent investment in a Japanese trading company an inevitable exception. But Buffett pointed out operational similarities between Canada and the United States.
“There are many countries we don’t understand at all,” Buffett said. “So it’s great for Canada to have a major economy that feels confident they can operate there, even if it’s not as big as the United States.”
Warren Buffett stands with Berkshire Hathaway shareholders ahead of the company’s annual shareholders meeting on May 3, 2024 in Omaha, Nebraska.
David A. Grogen | CNBC
Buffett did not reveal specific companies he is looking at north of the border or whether they are public or private.
“Clearly there is no company as big as America,” Buffett said. “There are actually things we can do quite well to ensure that Canada benefits from Berkshire’s participation.”
canadian S&P/TSX Composite Index It rose about 5% this year. The economy has large financial and commodity industries.
The Berkshire Hathaway Annual Meeting will be broadcast exclusively on CNBC and streamed live on CNBC.com.
