Warren Buffett reasurres shareholders about Berkshire Hathaway's long-term prospects despite underwhelming 2019

Warren Buffett
(Image credit: Johannes Eisele/AFP via Getty Images)

Berkshire Hathaway Inc. underperformed in 2019, but its boss is playing it cool.

The conglomerate's stock rose 11 percent compared to a 31.5 percent total return in the S&P 500, but CEO and chair Warren Buffett sought to reassure investors in his annual shareholder Saturday, which is in line with his longstanding opinion that long-term performance should be prioritized over short-term fluctuations in the stock market.

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.