May 5, 2018 / 2:32 PM / 22 days ago

HIGHLIGHTS-Buffett, 'Oracle of Omaha,' comments on Berkshire results

NEW YORK, May 5 (Reuters) - Billionaire investor Warren Buffett and Berkshire Hathaway Inc Vice Chairman Charlie Munger are answering five hours of questions from shareholders, journalists and analysts at Berkshire’s annual meeting in Omaha, Nebraska.

The weekend known as “Woodstock for Capitalists” is unique in corporate America, a celebration of Buffett’s success at a conglomerate whose businesses range from Geico insurance to the BNSF railroad to See’s candies to Ginsu knives.

Below are the comments from Buffett, the “Oracle of Omaha,” on a wide range of topics, which will be updated throughout the day:

ON BERKSHIRE EARNINGS

“A new accounting rule was introduced at the beginning of this year .. Our equity securities are marked to market every day ... that (produces) some unusual effects from quarter to quarter ... (the net earnings figure) is really not representative.”

ON CHARLIE MUNGER

“Charlie does most things better than I do.” (Reporting By Nick Zieminski in New York)

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