Warren Buffett’s Berkshire Hathaway will struggle to clinch a big acquisition this year, the doyen of the investing world lamented in his annual letter to shareholders at the weekend.
Mr Buffett, who transformed the textile manufacturer he purchased in the 1960s into a sprawling investment conglomerate that is now one of the world’s most valuable companies, warned on Saturday that the prospects for a mega-deal in 2019 “are not good”.
“Prices are sky high for businesses possessing decent long-term prospects,” he wrote to shareholders in his wide-ranging and capricious annual letter. “2019 will probably see us again expanding our holdings of marketable equities. We continue, nevertheless, to hope for an elephant-sized acquisition.”
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