Warren Buffett shrugged off the potential impact onBerkshire HathawayInc. of a Donald Trump presidency, saying April 30 that Berkshire'sbusiness prospects "won't be the main problem" if the Republicanfrontrunner is elected.
Buffett, a vocal supporter of Democratic candidate HillaryClinton, assured investors that the conglomerate would continue to perform wellno matter who ultimately wins the White House in 2016. Berkshire has weathered variousadministrations, regulations and business environments, he said, and managed toadapt to the shifting market dynamics.
"I predict that if either Donald Trump or HillaryClinton becomes president, and one of them is very likely to be, I think Berkshirewill continue to do fine," Buffett said at his company's annualshareholders meeting. "In the end, business in this country has doneextraordinarily well for a couple hundred years, and it has adapted to thesociety and the society has adapted to business."
Vice Chairman Charles Munger declined to share his view ofTrump as a presidential candidate, saying he was "afraid to get into thisarea."
Buffett has criticizedTrump throughout the current election cycle, and in a February letter toshareholders, he decried rhetoric adopted by Trump and others that the nation'seconomy is broken.
"It's an election year, and candidates can't stopspeaking about our country's problems (which, of course, only they cansolve)," he wrote in the letter. "That view is dead wrong: The babies beingborn in America today are the luckiest crop in history."
Buffett doubled down on that outlook during the annualmeeting, calling the U.S. a "remarkably attractive" place forbusinesses that will likely become only more appealing in the future.
"Business has managed to take care of itself, and forgood reason, because it contributes to and has been the engine of a marketeconomy that's delivered output that is staggering by the imagination of anyonethat might've existed 100 years ago," he said. "The system works verywell."