Berkshire Hathaway is considering an investment in Canada, as stated by Warren Buffett.
Warren Buffett stated that Berkshire Hathaway is considering an investment in Canada.
"He stated to a packed arena of investors on Saturday that they were not uncomfortable investing in Canada and were currently considering one thing."
The Canadian mortgage underwriter, Home Capital Group, has received a vote of confidence from a billionaire investor who previously placed a $300 million bet in the country.
During the annual shareholder meeting, the "Oracle of Omaha" stated that he does not anticipate making substantial bets outside the U.S., with the exception of his recent investments in Japanese trading houses. Buffett emphasized the similarity in operations between Canada and the U.S.
"Buffett stated that there are many countries that are not fully understood, including Canada, which has a major economy that is confidently operated."
Buffett did not disclose the specific Canadian company he is considering, nor did he reveal whether it is public or private.
"Buffett stated that there are fewer large corporations in Canada compared to the United States. However, there are areas where Berkshire can contribute and benefit Canada."
The economy of Canada has experienced a growth of approximately 5% this year, driven by its significant financial and commodity industries.
The Berkshire Hathaway shareholder meeting will be exclusively broadcast on CNBC and livestreamed on bizfocushub.com, starting at 9:30 a.m. ET on Saturday.
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