Shareholders buy Buffett’s optimism

OMAHA, Neb. – Warren Buffett worked to reassure shareholders that he’s feeling good after his recent prostate cancer diagnosis, and that Berkshire Hathaway is ready to replace the revered 81-year-old investor when the need arises.

Based on the questions Buffett got from the crowd of more than 30,000 at the company’s annual meeting in Omaha on Saturday, Berkshire shareholders are taking him at his word.

Despite the fact that Buffett just disclosed the condition last month, he didn’t face the first question about his health until well into Saturday’s questioning. Many of the questions at the meeting either focused on technical aspects of Berkshire’s many businesses or dealt with general economic or political topics. One highlight of the discussion was the revelation that he recently attempted to make a more than $20 billion acquisition that, he said, didn’t work out.

Buffett told shareholders that the survival rates for prostate cancer look so good that he thinks the diagnosis is a “non-event.”

Buffett, 81, is considered the greatest celebrity in investing because of his many profitable decisions.