Buffett to Expand Energy Wager ‘As Far as the Eye Can See' - Bloomberg
“We’ve poured billions and billions and billions of dollars in retained earnings, and several billion of additional equity,” into the energy business, Buffett, 83, said today at the Edison Electric Institute’s annual convention in Las Vegas. “And we’re going to keep doing that as far as the eye can see.”
Buffett has been shifting toward capital-intensive businesses like energy and transportation, reducing Omaha, Nebraska-based Berkshire’s reliance on insurance operations and stock-picking. He’s said that utilities are a great way to preserve wealth since entering the industry about 15 years ago.
“So far, we’ve stayed rich,” Buffett said today.
Twitter / BloombergNews: Buffett doubles his blind bet
Buffett doubles his blind bet on wind and solar: http://bloom.bg/1ljCQzT pic.twitter.com/T8Zpyacm4n
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