Warren Buffett was interviewed on CNBC on October 3, 2017 from 8:00 – 9:00 a.m.
The highlights include:
(1) Berkshire Hathaway is buying 38.6% of Pilot Flying J (truck stops) and will own 80% in a few years.
(2) Stocks are fairly valued at current interest rates.
(3) A tax cut is likely this year which is why Berkshire is realizing losses on stocks this year, but not realizing gains. A tax cut will increase corporate profits and, therefore, stock prices over time. This will benefit the 1,000,000 shareholders of Berkshire.
(4) Warren Buffett has confidence in Tim Sloan, CEO of Wells Fargo.
(5) Bank of America is well run by its CEO, Brian Moynihan.
(Note: This blog post has been published by ValueWalk.)