Warren Buffett annual letter to Berkshire Hathaway shareholders 2015: US presidential candidates have it all wrong – those being born today are the luckiest generation

 
Hayley Kirton
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Warren Buffett Speaks At Economic Club Of Washington
"The babies being born in America today are the luckiest crop in history" (Source: Getty)

Kids these days are the luckiest of all, according to Warren Buffett's annual letter to the shareholders of Berkshire Hathaway released today.

Commenting on the impending US elections, Buffett scoffed at the "negative drumbeat" of the presidential candidates, who seemed to be making a habit of pointing out all of the country's problems, despite GDP per capita having grown to six times the amount it was when he was born in 1930.

Buffett added: "That view is dead wrong: The babies being born in America today are the luckiest crop in history."

Although he did state that inequality in the country was an issue, he continued: "The good news, however, is that even members of the “losing” sides will almost certainly enjoy – as they should – far more goods and services in the future than they have in the past."

Commenting on the performance of Berkshire Hathaway, Buffett, who has own and run the company for more than five decades, sounded positive about 2015, particularly in comparison to 2014's performance.

The conglomerate company reported net earnings attributable to shareholders of $24.1bn (£17.4bn) for its full year of 2015, up from $19.9bn the year before, while consolidated shareholders' equity rose to $255.6bn, a net worth gain of $15.4bn for the year.

Buffett also seemed pleased with the recent acquisition of Precision Castparts, which he revealed he would be promoting into his "Powerhouse Six" next year – his current "Powerhouse Five" being the most profitable non-insurance companies of the group.

However, share price in Berkshire Hathaway has not performed well in the last year, dropping about 10 per cent over the last 12 months.

Berkshire Hathaway shares also did not perform particularly well on Friday, closing down 0.4 per cent.

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