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Forum List » Guru News and Commentaries Guru News, Stock picks and commentaries  
'The Warren Buffett Way' Author Robert Hagstrom: Buffett Is Right on Banks
Posted by: Dheeraj Grover
(IP Logged)
Date: January 11, 2013 10:23AM
Author of famous value investing book, "The Warren Buffett Way," and investment counsel at Legg Mason was on Bloomberg to discuss his views on recent comments from Warren Buffett related to U.S. banks. Buffett said U.S. banks are in the best shape and in cleanest share and do not pose any significant risk to the markets. He thinks Buffett is correct in his thinking: U.S. banks indeed are in very good shape and very strong with good capital levels. -- Yes, Buffett's math on U.S. banks in correct. They are in the best shape ever and don't pose any risk to the U.S. economy. -- The risk here is that they might return to bad behavior but thinks that will not happen. -- Banks' balance sheets will be more conservative and returns will be lower going forward, but current valuations reflect too much pessimism and look very cheap. Credit and source: Bloomberg, www.bloomberg.com Here is the video:
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