Speaking on PBS' Nightly Business Report, Berkshire Hathaway (NYSE: BRK.A) honcho Warren Buffett provided his outlook on the economic crisis:"They're bad, they're bad. The credit situation is getting a little better now. Things have loosened up from a month ago in the corporate debt market. But the rate of business descent is at a pretty alarming pace. I mean, there is no question things have really slowed down. People's buying habits have changed. Fear has taken over and fear is a tough thing to fight."
Other highlights from the interview: Buffett said that he is "not opposed" to buying back his company's stock and said that the government cannot stand by and "do nothing" to stimulate the economy, even though there is the potential for major inflationary consequences.
But the most important item for investors is this: Warren Buffett bought stocks yesterday.
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Reader Comments (Page 1 of 1)
1-24-2009 @ 4:24PM
Athelstan said...
Is Mr. Buffett's age showing? He must know something about credit nobody else seems to know about. He may be able to get credit, but what about the rest of the applicants?
1-24-2009 @ 12:47PM
davis10oregon1 said...
MR. BUFFET, IS OLD, CRAFTY, SMART, VERY SAVVY, AND SO FAR AHEAD OF THE BELL CURVE, THAT SOME MAY ASK " WHAT WAS/IS THE BELL CURVE ". TO GIVE YOU JUST A LITTLE INSIGHT. ON ANY GIVEN DAY TRY TO MAKE A PURCHASE OF A PRODUCT WITHOUT IT HAVING A LINK DIRECT OR INDIRECTLY
TO MR. BUFFET. MEANING ? PERHAPS THE
LINE OF CREDIT WILL FUNNEL DOWN SOON. WE SHOULD HOPE.