Warren Buffett just bought a ton more shares of Apple

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- Buffett says stocks remain the best option for investors - not bonds, and especially not bitcoins.

"We would love to see Apple go down in price", Buffett said.

Warren Buffett has been buying a lot of Apple shares recently, saying that he would buy even more at the right price.

On having never invested in Microsoft, Buffett said that "in the earlier years, the answer is stupidity". That adds to 165 million shares that Berkshire had at the end of previous year.

During the quarter, Buffett's insurance and reinsurance businesses added another $2 billion of premium float, taking the total pot at Berkshire Hathaway to a new high of $116 billion.

Two of Berkshire's biggest stock investments, Wells Fargo & Co (WFC.N) and Coca-Cola Co (KO.N), had tough first quarters, falling 13.6 percent and 5.3 percent, respectively.

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Berkshire Hathaway's CEO and Chairman, Buffet, chairman and CEO of Berkshire Hathaway, made the remarks in response to a Chinese investor's question about US-China trade relations at the Berkshire Hathaway's annual shareholders meeting.

The shares closed up 3.9 percent at US$183.83 on Friday.

Analysts surveyed by FactSet expected operating earnings of $2.08.

Charlie Munger, Berkshire's vice chairman and long-time Buffett collaborator, said during the meeting that trading in cryptocurrencies is "just dementia". He said that it is an "unbelievable company" that "earns nearly twice as much as the second most profitable company in the United States".

General Re (GenRe) also managed a profit, with growth in premiums earned helping the reinsurer to an underwriting profit of $130 million, compared to its loss of -$141 million in the prior year. Pre-tax underwriting gains almost quadrupled, as it sold more policies despite having raised rates, while the rate of policyholder losses fell. "The number of claims are down somewhat".

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