CNBC’s Becky Quick managed to catch hold of Warren Buffett on Monday for a quick interview following Berkshire’s AGM over the weekend.
Some points from the interview include:
- Warren Buffett is optimistic about the U.S. economy over the long term, but has no idea how it will be in the short term. It will ultimately turn; he just don’t know when.
- The time to buy stocks is when business sentiment is bad and nobody is buying.
- The more cheap things become, the more he will buy. He likes to buy when things are cheap. While it is not the most attractive time now (it was in 1974 and 1975), it is among the more attractive now.
- He reads 5 newspapers a day but the future of newspapers companies is very bleak.
- The U.S. will need more tax revenue. Countries which has a huge debt always end up inflating their way out of it.
Complete transcripts of the interview can be downloaded here.
You can watch the clips below:
Part 1
Part 2