Warren Buffett is on CNBC.We’ll be covering his notable comments LIVE as warranted.
So far it’s just been chatter.
Refresh for the latest.
“They’ve discovered they have a fundamental flaw, which is that they can’t print money.”
“It’s not clear who can say ‘we’ll do whatever it takes’ there.”
“There’s tens of billions of debt coming due every month in Italy… stopping a run is tough. You don’t get half of your confidence back.”
“It’s very, very stuff to stop a run.”
“We believed Bernanke an Paulson and the President when they said that in September 2008… there’s nobody with comparable authority.”
On the future of the euro:
“Time works against you.”
On European banks:
“I haven’t bought any.”
On the US economy:
“OF our 70 plus businesses, all but about 5 are doing better than they were ago.”
What’s still getting killed is anything related to housing.
On the FED:
Buffett wouldn’t recommend QE3, but he’s not too worried if he does do it.
“I did not change my opinion of Governor Perry one iota because of a flub… I (still) don’t want him to be President.”
“(Romney) is likely the nominee.”
On the Super-Committee:
He’s not worried that they don’t have a deal yet. Things tend to happen once they get to deadlines.
Believes in a progressive rate.
Was a “boyhood dream” to have a tax law named after him.
The tax he really wants still hasn’t been named.
His dream tax is a minimum tax of anyone making over $1 million of about 30%. And 35% on the super-rich. If your income is through normal means then it wouldn’t change anything.
On MF Global:
If you have a net worth of $1 billion, and you take a risk of $6 billion in a credit that could run into trouble, then somebody has made a mistake.
On TBTF banks:
He denies that his bet on BofA was some kind of “Too Big To Fail” bet. Says shareholders should get wiped out, and ideally the CEO of a failed bank and his wife should go broke.
On his coming investments:
He has just revealed a brand new investment. It’s IBM.