Warren Buffett says Berkshire Hathaway is an funding in Canada

OMAHA, Neb. — Warren Buffett mentioned that Berkshire Hathaway is wanting into an funding in Canada.

“We don’t really feel uncomfortable in any form or type placing our cash into Canada,” he advised an area filled with buyers Saturday. “In actual fact, we’re truly one factor now.”

The billionaire investor has positioned bets within the nation prior to now. He is beforehand taken a roughly $300 million place in House Capital Group that buyers took as a vote of confidence within the troubled Canadian mortgage underwriter.

The “Oracle of Omaha” mentioned in the course of the annual shareholder assembly that he doesn’t anticipate to make vital bets outdoors the U.S., saying his latest investments in Japanese buying and selling homes have been a compelling exception. However Buffett famous the similarity in operations between the Canada and the U.S.

“There’s a number of international locations we do not perceive in any respect,” Buffett mentioned. “So, Canada, it is terrific while you’ve bought a serious financial system, not the scale of the U.S., however a serious financial system that you simply really feel assured about working there.”

Buffett didn’t reveal the particular firm he is north of the border or whether or not it was public or non-public.

“Clearly, there aren’t as many huge corporations up there as there are in the US,” Buffett mentioned. “There are issues we truly can do pretty properly that Canada may gain advantage from Berkshire’s participation.”

Canada’s S&P/TSX Composite Index is up about 5% this yr. The financial system has giant monetary and commodity industries.

The Berkshire Hathaway shareholder assembly is completely broadcast on CNBC and livestreamed on CNBC.com.