Thursday, June 26, 2008

Warren Buffett Interview on CNBC

Video Link

My notes:
  • He is VERY concerned with the current levels of inflation. This is striking, as you rarely hear Warren Buffett mention inflation.
  • If he were in Bernanke's shoes, he would "offer his own resignation".
  • Still believes the dollar will weaken further over time - mentioned lack of Congressional discipline.
  • Oil price is being driven by supply/demand, not speculators. For the first time in his lifetime, there is no excess capacity. Speculators are not driving the price because they are not storing it - for each speculative long, there is a corresponding speculative short.
  • And then he rambled on about his socialistic views - I should pay more taxes, blah, blah, blah.

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