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Warren Buffett is about to do something that'll drive Bernie Sanders and Chuck Schumer crazy (BRK.B)

Warren Buffett is about to do something that'll drive Bernie Sanders and Chuck Schumer crazy (BRK.B)




Warren Buffett, the chairman and CEO of Berkshire Hathaway, wrote in his annual letter out Saturday that the company planned to buy back more of its stock.




Buybacks have recently drawn the ire of some politicians.




Senators Chuck Schumer and Bernie Sanders wrote in a New York Times op-ed earlier this month that corporate stock buybacks should be limited.




Warren Buffett released his annual letter to shareholders on Saturday, and in it he said that his Omaha-based conglomerate, Berkshire Hathaway, planned to buy back more of its stock.
Buffett wrote it's likely, over time, that "Berkshire will be a significant repurchaser of its shares, transactions that will take place at prices above book value but below our estimate of intrinsic value."
That prospect is likely to draw the ire of politicians like Senators Bernie Sanders and Chuck Schumer, who wrote in a New York Times op-ed earlier this month that corporate stock buybacks should be limited.
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