It’s been a rough year for Mr. Buffett.
In the wake of his $10 billion buyout of Valeant Pharmaceuticals last year, his investments in hedge funds have tumbled.
And he has been hit hard by rising health costs and an expected slowdown in the economy.
He’s now trying to find ways to boost his investments and to pay back investors, but he’s been unsuccessful.
As a result, Mr. Buffett said last week that he is putting aside $100 million to buy back some of his investments.
“I am looking for ways to reinvest my money in companies that I think have a high chance of improving the quality of the product,” Mr. Warren said.
“It may not be the same companies that people were excited about a few years ago.
But it’s a lot of money that could be invested.”
Buffett said he will also be buying back some investments he owns through Berkshire Hathaway, including his stake in Berkshire’s investment firm, Berkshire Hathway Inc. Mr.
Warren said he has invested in other companies, including pharmaceutical company Pfizer Inc., which he also owns, as well as venture capital firms such as the Blackstone Group.
“We’re doing our own things.
And so that gives us the opportunity to do things in a more sophisticated way,” Mr:Buffett added.
“That’s something we’re excited about and we’re also looking forward to doing more of that.”
Bernstein said that Mr.
Berkshire, the investor he’s investing in, is one of the most famous names in the hedge fund world.
“If I’m looking to invest in an asset, then Warren Buffetts is probably the best investment that I’ve ever made,” Mr Bernstein said.