Berkshire's Buffett calls himself a 'card-carrying capitalist'

Berkshire Hathaway Chairman and CEO Warren Buffett and his Vice Chairman Charlie Munger in red tie are seen on large screens as they preside over the Berkshire Hathaway shareholders meeting in Omaha Neb. Saturday

Buffett and Munger were asked if Berkshire Hathaway's investing philosophy had changed given that one of Berkshire's portfolio managers recently bought shares of Amazon.com Inc.

"We're hoping for a deal in the United Kingdom and/or in Europe, no matter how Brexit comes out", the billionaire told his annual shareholders' meeting.

"We have an investment company that is trying to be like Warren Buffett in Sweden".

The Berkshire Hathaway Inc Chairman and Chief Executive Officer said he would "love to put more money in the UK" despite uncertainty over whether and how Britain will leave the European Union.

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Billionaire Warren Buffett wants to do more business in the United Kingdom and Europe regardless of how Brexit turns out. Since then, it seems that it may have racked up even bigger AAPL holdings. At the same time, Berkshire wrote down the value of its stake by $3bn.

"Kraft Foods, as a strong legacy brand, is vulnerable to strong legacy brands mattering much less than they used to", Shields said.

Thousands of Berkshire Hathaway shareholders return to Omaha every year to learn from Warren Buffett and celebrate the company he built through acquisitions and investments.

Buffett's admission also may signify something about Berkshire's future - namely, the conglomerate's future when Buffett, 88, and longtime partner Charlie Munger, 95, are no longer a part of its present.

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