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WARREN BUFFETT SPEAKS ABOUT THE MARKETS AND THE ECONOMY

May 7, 2012   ·   0 Comments

warren buffett becky quick cnbc

Warren Buffett is coming off of hosting Berkshire Hathaway’s annual shareholder meeting. 

The Oracle of Omaha is now speaking live from the Hollywood Diner on CNBC with Becky Quick from 6:00 AM to 9:00 AM EST.  We’re covering it live here.

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On the European elections and today’s global market sell-off:

“I never complain about buying things cheaper.”

Buffett is building positions in two American stocks.

“If you have a common monetary unit, you need a somewhat common fiscal policy.”

“10 or 20 years from now, Europe will be producing more goods per capita…it isn’t the end of the world.”

On the US:

We addressed out banking system issues three years ago.

“Being able to issue all of your debt in your own currency is an entirely different game.”

On Greece electing neo-Nazi’s to parliament:

Asking people to vote for pain is not a winning campaign strategy.

On attractive acquisitions in Europe:

Berkshire bought a Dutch company last week.  Current sitiuation wouldn’t stop Buffett from pursuing a good value.

On Gold:

If you buy an ounce of gold, a hundred years from now you’ll have an ounce of gold.  But farmland will produce good for a hundred years and you’ll still have farmland. If you buy the Dow, then you’ll collect dividends for 100 years.

You can knock almost any investment and people won’t be as irate as when you knock gold.  This speaks to gold investors’ motivations.  “They want people to be as afraid as they are.”

On Facebook:

Spoke with Mark Zuckerberg last year.

“An extraordinary business is the hardest one to value.”

On Yahoo CEO’s resume discrepancy:

“It doesn’t sound like an inadvertant error.” “If you can’t trust the people you’re working with, you’ve got a problem.”

On allegation that Walmart was bribing Mexican officials:

When you have 100k+ employees, someone will be doing something wrong.

On banks:

The size of banks are not the issue, as long as they have sufficient capital levels and are appropriately regulated.

Quotables:

When I bought my first stock, we were losing a war to Japan.

“Charlie make me look meely-mouthed.”  -in response to Munger’s comment that civilized people don’t buy gold.

 

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