Buffett defends investments in stocks, which fuelled record Berkshire profit
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(Reuters) - Warren Buffett on Saturday defended Berkshire Hathaway Inc's decision to invest heavily in the stocks of companies such as Apple Inc , as the conglomerate struggled to find whole businesses to buy.Buffett made his assessment in his annual letter to Berkshire shareholders, where the 89-year-old also assured that Berkshire is "100% prepared" for the eventual departures of himself and Vice Chairman Charlie Munger, 96.Berkshire also reported record net income for the year of $81.42..