- Warren Buffett weighed in on Tesla CEO Elon Musk’s Twitter usage, saying it hasn’t “helped him a lot.”
- Buffett also laughed off a fake Twitter account that was impersonating him. The account posted a tweet that was shared by Kanye West.
- In addition to the Twitter commentary, Buffett talked about President Donald Trump’s idea to move away from quarterly earnings cycles, the president’s pressure on Fed Chairman Jerome Powell, and tariffs.
Warren Buffett doesn’t think Elon Musk’s tweeting is doing him any favours.
The Tesla CEO has come under fire recently for his Twitter usage, including a tweet announcing the company was considering going private and another attacking a British diver who helped save the young Thai soccer team that got trapped in caves as a “pedo guy.”
“I don’t think it’s helped him a lot,” Buffett said during an interview with CNBC on Thursday.
Musk’s Twitter proficiency has gotten Tesla and himself in hot water. The Securities and Exchange Commission launched an investigation into the tweet about taking Tesla private (the company has since abandoned the idea). And Vernon Unsworth, the British diver, is reportedly preparing legal action against Musk.
Buffett also rejected the idea of tweeting more, saying he doesn’t have enough opinions to weigh in on events daily.
“I think there’s other things in life I want to do than tweet. I’m not that desperate for somebody to hear my opinion on this,” he said.
“I do not have a daily view on all kinds of things, and maybe I’ve got a guy in this copycat or imitator, maybe he’s putting out better stuff than I would and if he puts out enough good advice, I’ll take credit for it,” Buffett said.
Other highlights from Buffett’s interview:
- On President Donald Trump’s plan to move US companies to twice-annual earnings reports: “I like to read quarterly reports as an investor, and we’ve got a couple hundred billion dollars worth of common stocks, so I like to get those quarterly reports,” Buffett said. “I do not like guidance, and I think the guidance leads to lots of bad things and I’ve seen it lead to lots of bad things – I don’t think quarterly reporting itself – it’s when you get into promising people what you’re going to do every quarter.”
- On Trump’s public pressure on Federal Reserve Chairman Jerome Powell not to raise interest rates: “[Powell will] do what, in his judgment, is best for the American economy over time there isn’t any question about that,” Buffett said. “Maybe he’ll make mistakes – I know I’ll make mistakes – but he knows what his job is and he’ll do it.”
- On Trump’s tariffs: “It pops up in every place and I haven’t really done that, but I was seeing [inflation] in raw materials well before the tariffs situation came up, but the tariff situation will aggravate it significantly,” Buffett said.
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