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Buffett, others discusses economy, other topics at Berkshire annual meeting

Published: 05/01/2021 19:10 GMT
Chevron Corp. (CVX) - Buffett Maintains That Ordinary Investors Are Better Off in Index Funds Than in Individual Stocks.
Buffett Says He Wouldn't Feel Uncomfortable Owning 'the Entire Business' of Chevron, Did Not Say He Plans to Do So; Berkshire Has Said It Owned Chevron Stock at the End of 2020.
Buffett Says Berkshire is Willing to Lose $10 Bln on a Single Insurance Event, But Wants to Be Paid Very Appropriately to Take on That Risk.
Abel and Jain Say They Communicate With Each Other Regularly, Have Much Respect for Each Other at Personal and Professional Level.
Buffett Says That Among Auto Insurers, Progressive is Doing the Best Job Matching Rates to Risk, and That Berkshire's Geico is Doing a Good Job and Making Very Significant Improvements.
Jain Says There is No Question That Progressive is a 'machine' and is Very Good at What They Do, But Geico is 'catching Up' and is 'miles Ahead' in Branding .
Berkshire Vice Chairmen Greg Abel and Ajit Jain Also Appear in Person at Annual Meeting.
Buffett Says U.
S.
Economy Has Been Resurrected in an "extraordinarily Effective Way' by the Federal Reserve and Fiscal Action by Congress.
Buffett Says U.
S.
Economic Recovery Has Gone Far Better Than Anybody Could Predict With Reasonable Assurance One Year Ago.
Buffett Says Berkshire Will Raise From $20 Bln the Minimum Amount of Cash It Plans to Keep on Hand, Reflecting Company's Growing Size.