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Warren Buffett on CNBC: Comments on QE3, IBM, WFC, VZ, T, PG
Posted by: GuruFocus (IP Logged)
Date: October 24, 2012 11:05AM

Warren Buffett: "We buy on an all equity basis." Some of the acquisition prices are out of control. He always comes with an "elephant gun." More stocks to buy? He usually ends up buying more of the stocks he already owns. Added IBM (IBM) shares this year. Added $1 billion worth of Wells Fargo (WFC).

Looking at IBM, he is delighted with it. It does better abroad than in the U.S. Berkshire (BRK.A)(BRK.B)'s insurance is doing well. It has an underwriting profit. The float is about $70 billion.



We Buy Stocks for Future Earnings:

Why not buy Verizon and AT&T? He doesn't know what they will be like 5 or 10 years from now.



Buffett: Instincts Go Against QE3

He would rather to have Bernanke as the Fed Chairman than anyone else. Interest rate is the gravity of all asset classes. It has huge gravitational pull.



Procter & Gamble (PG) Earnings Disappointing:




Guru Discussed: Warren Buffett: Current Portfolio, Stock Picks
Stocks Discussed: IBM, WFC, VZ, T, PG, BRK.A, BRK.B,
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