The first question back from lunch is about 3G, the private-equity firm Berkshire has partnered with on a few deals, starting with the acquisition of H.J. Heinz in 2013. The inquiry is about whether Berkshire might shy away from partnering with them on deals given the political climate, specifically Donald Trump's focus on U.S. job creation.
Mr. Buffett gives his standard answer defending 3G, a firm that has a well-deserved reputation for ruthless cost-cutting. Mr. Buffett has lauded 3G and its leaders, saying the cuts they make are necessary. He also repeats that he doesn't like doing that sort of cutting himself, so Berkshire only buys well-run businesses.
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He doesn't address the Trump angle to any great degree.
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(END) Dow Jones Newswires
May 06, 2017 14:54 ET (18:54 GMT)