Money | Warren Buffett Thousands Line Up for Buffett's So-So News Don't expect big Berkshire gains like before, he says By Kevin Spak Posted May 3, 2008 3:13 PM CDT Copied Investor Warren Buffett bites into an ice cream bar made by Dairy Queen, a Berkshire Hathaway subsidiary, during the annual Berkshire Hathaway shareholders meeting, in Omaha, Neb. (AP Photo/Nati Harnik) Thousands of stockholders descended on Omaha for today's annual Berkshire Hathaway meeting, but what they heard didn't send Blackberries abuzz, the Wall Street Journal reports. Warren Buffett said his iconic company won’t be pulling in double-digit returns anymore. “Anyone that expects us to come close to replicating the past should sell their stock,” he said. “It's not going to happen.” The company has become too big to make major stock-boosting moves. “What we really like is buying large, first-class businesses and just sitting there,” he said, but that strategy won't produce gaudy returns like before. Berkshire’s first-quarter profit fell 64% thanks to insurance underwriting losses, but Buffett said those contracts should eventually prove profitable. Read These Next It's being called a disturbing trend: paragliders with bombs. Feds cite ChatGPT evidence in arrest of Palisades Fire suspect. Mike Johnson is taking heat over a Democrat's delayed swearing-in. Trump, Johnson aren't happy with pick for Super Bowl headliner. Report an error