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Buffett Calls SPACs a ‘Killer,’ Make Berkshire Less Competitive

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Key Takeaways From Berkshire Hathaway’s Annual Meeting

Warren Buffett warned investors that Berkshire Hathaway Inc. might not have much luck on striking deals amid the SPAC boom.

“It’s a killer,” Buffett said about the influence of special purpose acquisition companies on Berkshire’s ability to find businesses to buy. “That won’t go on forever, but it’s where the money is now and Wall Street goes where the money is.”