Why Buffett Is Bullish On Banks And Will Invest In Jamie Dimon’s Company

Warren Buffett’s Berkshire Hathaway is bullish on the banks. In this interview, Buffett talks about why he invested in Jamie Dimon’s company.

H/T Dataroma

jamie dimon's company

Why Warren Buffett Is Bullish On Banks And Will Invest In Jamie Dimon’s Company

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Transcript

Seems like you've got a big waiting and financials and of course you finally invested in Jamie Dimon's company. Why banks right now.

There are businesses I understand and I like the price at which they're selling relative to their future prospects. I think ten years from now that they'll be worth more money. And I feel it's there's a very high probability I'm right. And I don't think that it will turn out to be the best investments at all. On the whole. The whole panoply of things you could do but I'm pretty sure that they won't disappoint me.

You said you're surprised that interest rates have been slow this long but isn't that because of accommodating central banks policies around the world and how deflationary technology is in society. Do you think that's has something to do with it. Those two you can always look back and say what the reason but in the end it does that nobody was telling me.

You know if somebody told me ten years ago it was going to happen the next 10 years we going to make a lot of money in the bond market together. But but it's there's always the reason afterwards. Tomorrow's paper will say stocks went down today because of it. But they didn't. They didn't buy that. This morning's paper.

Actually I get down to it you have to know what you don't know and you have to make sure that what you don't know isn't all important. I mean if there's four boxes there you want to get to what is knowable. And and and and which is favorable and there's things that you'll miss out on because they belong in other three boxes one of which will be favorable. Another one the variable and the fact that you're missing out on 90 percent of the stuff doesn't really make any difference of the 10 percent you do is right.




About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver