Warren Buffett Appears to Swipe at President Biden in Shareholder Letter

Berkshire Hathaway CEO Warren Buffett’s annual letter, released on Saturday morning, included the usual homespun wisdom that his shareholders have come to expect, with modest and self-effacing reflections on his own unearned luck and fallibility. But at least one section of the letter was sharper, and appeared to be directed squarely at the president.

In that section, Buffett discusses companies that buy back their own shares, which he describes as a benefit to shareholders—assuming the shares are bought at a reasonable price. He also asserts that share buybacks are of no harm to the country. Berkshire Hathaway bought back $7.9 billion of its own shares last year, a decrease from 2021.