Fri May 2, 2014
Buffett may face questions about performance
OMAHA, Neb. (AP) — Warren Buffett's failure to beat the stock market in four of the past five years has raised the issue of whether Berkshire Hathaway's 83-year-old CEO has lost his touch.
Buffett is likely to face questions about the conglomerate's performance when more than 30,000 shareholders gather for Berkshire's annual meeting in Omaha, Nebraska, on Saturday.
It's not the first time people have wondered if Buffett is off his game. Criticism of Buffett reached its peak during the 1990s tech bubble because he refused to invest in dot-com businesses he didn't understand. Berkshire's Class A stock sunk to roughly $56,000 a share.
When the tech bubble burst, many of those businesses failed while Berkshire continued to prosper through acquisitions and investments. These days, Berkshire's A stock trades at more than $193,000 a share.
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