Warren Buffett advises 40,000 people of stock picks at 'Woodstock for Capitalists'

Billionaire Warren Buffett said on Saturday that Berkshire Hathaway is poised to do well no matter who wins the White House in November, and the billionaire investor defended the performance and tactics of the conglomerate’s several large investments.

Mr Buffett presided over his 51st Berkshire annual meeting in Omaha, Nebraska, where he and vice chairman Charlie Munger fielded five hours of questions on such matters as Coca-Cola’s sugary drinks, lower shipping volumes on the BNSF railroad, risks from derivatives, and who might succeed Mr Buffett as chief executive.

Berkshire owns close to 90 businesses in energy, insurance, manufacturing, railroad, retail and other sectors, and invests well over $100bn (€87bn) in stocks.