5 Highlights Of Warren Buffett On CNBC – May 8, 2017

Berkshire Hathaway B shares Warren Buffett
By Mark Hirschey (Work of Mark Hirschey) [CC BY-SA 2.0], via Wikimedia Commons

Warren Buffett was interviewed on CNBC today from 6:00 a.m. – 9:00 a.m. EST.

5 highlights are:

  1. Warren Buffett defended 3G Capital and Kraft Heinz in cutting unnecessary people to improve productivity and grow economy.
  2. Wells Fargo’s reputation has been hurt in the short run, but earnings power will not be hurt in the long run.
  3. Buffett is not currently buying Google and Amazon, but he is more likely to buy them than short them.
  4. The most important variable in determining market valuation is interest rates.  The market is “dirt cheap” if interest rates remain at current levels for  next 10 –  20 years.
  5. Charlie Munger advocates a single payer system for health care similar to Canada and Europe.

Article by Dr. David Kass

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David I Kass Clinical Associate Professor, Department of Finance Ph.D., Harvard University Robert H. Smith School of Business 4412 Van Munching Hall University of Maryland College Park, MD 20742-1815 Phone: 301-405-9683 Email: [email protected] (link sends e-mail) Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Accelerated Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), Fox TV, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by Bloomberg News and The Wall Street Journal, where he has primarily discussed Warren Buffett and Berkshire Hathaway. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He is an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School “Top 15% Teaching Award” for the 2009-2010 academic year.