OMAHA, Neb. — Warren Buffett stated that Berkshire Hathaway is wanting into an funding in Canada.
“We don’t really feel uncomfortable in any form or type placing our cash into Canada,” he informed an area filled with buyers Saturday. “In truth, we’re truly one factor now.”
The billionaire investor has positioned bets within the nation prior to now. He is beforehand taken a roughly $300 million place in Residence Capital Group that buyers took as a vote of confidence within the troubled Canadian mortgage underwriter.
The “Oracle of Omaha” stated throughout the annual shareholder assembly that he doesn’t count on to make vital bets exterior the U.S., saying his latest investments in Japanese buying and selling homes have been a compelling exception. However Buffett famous the similarity in operations between the Canada and the U.S.
“There’s a whole lot of international locations we do not perceive in any respect,” Buffett stated. “So, Canada, it is terrific while you’ve bought a significant economic system, not the scale of the U.S., however a significant economic system that you just really feel assured about working there.”
Warren Buffett walks the ground and meets with Berkshire Hathaway shareholders forward of their annual assembly in Omaha, Nebraska on Could third, 2024.
David A. Grogen | CNBC
Buffett didn’t reveal the precise firm he is north of the border or whether or not it was public or personal.
“Clearly, there aren’t as many huge corporations up there as there are in the US,” Buffett stated. “There are issues we truly can do pretty properly that Canada may gain advantage from Berkshire’s participation.”
Canada’s S&P/TSX Composite Index is up about 5% this yr. The economic system has massive monetary and commodity industries.
The Berkshire Hathaway shareholder assembly is solely broadcast on CNBC and livestreamed on CNBC.com.