Buffett released his much-anticipated missive on Saturday.
and how it gives the conglomerate increased ownership of each dollar of the iPhone maker's earnings without the investor having to lift a finger.
The Inflation Reduction Act provision imposing a 1% excise tax on buybacks became effective this year.Buffett's widely read shareholder letter is released with Berkshire's annual report and usually sets the tone before the conglomerate's big annual meeting in May in Omaha, Nebraska, nicknamed "Woodstock for Capitalists."
"I have been investing for 80 years – more than one-third of our country's lifetime," Buffett said. "I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future."
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