Posted: May 2, 2013 10:53 PM by Associated Press
Updated: May 3, 2013 2:20 AM
OMAHA, Neb. (AP) - Many investors want to copy Warren Buffett's moves because he makes it sound simple and has accumulated billions in the process.
But in recent years, copying Buffett has become harder because many of his deals are only possible either because of Berkshire Hathaway's massive pile of cash or because of Buffett's connections.
Just consider Berkshire's recent deal to buy half of ketchup-maker H.J. Heinz Co. for $12.12 billion. Buffett says that $23.3 billion deal got started on a private flight he shared with a friend and fellow billionaire.
KBW analyst Meyer Shields says it's quite hard to copy what Buffett does these days because many of his deals are more complicated than they appear.
But that won't keep more than 30,000 people from attending Saturday's Berkshire annual meeting.
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