Weighing in to the active versus passive funds management debate, Mr Buffett lashed the "huge" fixed fees "showered" on active fund managers for underperformance.
Quarterly operating profit fell 6 percent to US$4.38billion, or US$2,665 per share, from US$4.67 billion, or US$2,843 pershare.
To date, the hedge funds investing in more than 100 other hedge funds have delivered a compound annual return of just 2.2 per cent, versus 7.1 per cent for the index, allowing for fees.
"As the subject of repurchases has come to a boil, some people have come close to calling them un-American - characterizing them as corporate misdeeds that divert funds needed for productive endeavours", Mr Buffett said.
But Buffett lavishly praised Berkshire executive Ajit Jain, widely considered a leading CEO candidate, for smoothly running much of the conglomerate's insurance businesses.
Berkshire, which became one of the top 10 Apple investors in 2016, has gained about $1.6 billion on its Apple investment after shares of the iPhone maker surged.
"If there were ever to be another Ajit and you could swap me for him, don't hesitate", Buffett wrote.
Berkshire's airline investments suggest that Buffett has overcome his two-decade aversion to the sector after an unhappy - though, he has said, profitable - investment in US Air Group. And he again praised the country's market system for its ability to allow Americans to continue building "mind-boggling amounts" of wealth over time.
The pick will likely be in the mid-20's, where the Nets have drafted Caris LeVert and Rondae Hollis-Jefferson in recent years. Nicholson is in his first year with the Wizards after spending the first four years of his career with the Orlando Magic.
Before tonight, there was some concern that the floodlights wouldn't be powerful enough so they've called in some backup... Half of our team support Arsenal , so to go to the Emirates and have a great day out would be their preferred result .
They became the first non-league side to reach the last eight in 103 years, but Barton's conduct attracted plenty of criticism. Lincoln, playing in round five for the first time since 1902, created a gilt-edged chance to take the lead inside five minutes.
Two DHS memos now under White House review will expand the border force by 15,000 and expedite deportation of criminal illegals. They are meant to implement President Trump's immigration actions from last month and enforce existing immigration law.
For the three-month period, Wal-Mart today announced revenue rose 3 percent, on a constant currency basis, to $133.6 billion. After this transaction, the insider's stake stands at 1,578,741,940 shares, with a market value of $109517328378.
The final seven points of that run were a 4-point play by junior guard Muhammad-Ali Abdur-Rahkman and a 3-pointer by Irvin. Men's basketball: Badgers' eight-game win streak comes to an end against NorthwesternIt was bound to happen.
The ICC issued an arrest warrant for Mr al-Bashir in 2009 after charging him with five counts of crimes against humanity. A High Court in South Africa had earlier ruled that the country's decision to withdraw from the ICC is unconstitutional.
Congressional Republicans, meanwhile, continue to stonewall any investigation of Russia's influence over the Trump administration. His spokesman Sean Spicer said he wasn't aware of any such contacts and panned the Times report for relying on "unnamed sources".
She has been a member of the New Azerbaijan Party since 2004 and the party's deputy chairwoman since 2013, it said. Graduating as a medical doctor, she also secured a degree in philosophy, defending a thesis on euthanasia.
Speaking on the matter, Conte said: "My reaction is very sad because this is our job and for sure I am disappointed for him". The matchday programme for the Premier League clash against Swansea is dedicated to Lampard.
Ramjas College violence: 3 policemen suspended
Leading the condemnation was Delhi chief minister Arvind Kejriwal, who termed the incident 'shameful'. In the middle of this people from the ABVP would push or pull people from our side of the divider.
Cummins, Johnson sold in IPL auction
While Nabi was bought at the base price of Rs. 30 lacs, SRH shelled out Rs. 4 crore for the 18-year old leggie Rashid Khan. Stokes is the second most expensive player after Virat Kohli (₹15 crore) among the IPL players.
BRIT Awards 2017 full winners list
Little Mix's first ever BRIT award win tops a fantastic 12 months for the girls who have now been together for five years. Beyonce beat out her sister Solange and fellow artists Rihanna, Sia and Christine and the Queens for the honor.
Instagram Posts Expand to Include Multiple Photos
Individual profiles can be tagged in each photo or video, but your caption and location tag applies to the whole collection. You can now combine up to 10 of them into a single post, filling your friends' feeds with a new level of storytelling.
UPS tests van-top delivery drone
When the drone is docked, it's charging up to make a quick jaunt from the truck on the street to the customer's front door. Using a drone to deliver one package as the driver delivers another would reduce travel time and emissions.