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Warren Buffett's Complete CNBC Interview: Video and Transcript

December 12, 2007

This is a transcript and video clip of the first part of Warren Buffett's live interview this morning on Squawk on the Street with CNBC's Becky Quick, in which he talks about the Federal Reserve, the U.S. dollar, the economy, and how his retail businesses are doing this holiday season.

Buffett: As an investor, the Fed action today means nothing. We will buy a stock that we like today if the Fed raised rates or if they lowered them 50 basis points. We wouldn't sell anything based on it. It just isn't important to somebody that's going to own a business, or a part of a business through a stock, what the Fed does. If you were going to buy a farm today, if you were going to buy an apartment house today, and you looked at it as a good investment, you would not sit around, you know, on pins and needles, waiting to see what the Fed did.

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Rating: 4.4/5 (8 votes)

Comments

sabonis
Sabonis premium member - 7 years ago
Maybe I should go ask Hilary or Obama to manage my portfolio.

I love WEB, but he should stick to money and stay out of politics.

Is this what they call the "Halo Effect"?...you are good at one thing so everyone supposes you are good at everything?
mattray253
Mattray253 - 7 years ago
Amen. It's ironic because WEB always advocates sticking with what you're good at. He should stay far away from politics.

The greatest capitalist in the world should not be supporting a socialist.
ariaslives
Ariaslives - 7 years ago
Sabonis and Mattray, you guys are a little crazy. He is there to raise money for the campaigns, not campaign himself. Besides his axiom is to stick with what you understand, not what you are "good at," and I think he knows a little something about raising money. FYI none of the candidates are socialists...they are running under for the democratic ticket.

And it seems that you are focused on the superficial aspects of the interview. Buffet raises some key economic and investing points so who cares if he likes a Democrat? Would you be upset if he liked french fries when you prefer onion rings? Do his personal preferences stand in the way of his investing savvy? Or were you just offended that he did not support your candidate?
tmmjs
Tmmjs - 7 years ago
As many of you, I have learned more about business and investing from WEB than from anyone else. But, when he starts to talk politics, religion or tax policy, I plug my ears and loudly say "LA LA LA LA LA LA LA"
kfh227
Kfh227 premium member - 7 years ago
Mayeb the fact that WEB supports the democrats is something to keep in mind when voting.

After all, WEB always advocates sticking with what you're good at and that means he knows what he wants for the economy on a long term basis.

arias is right though, lets stick to financial discussions. Kinda curious though, I know WEB read the bible 3 times and decided to be agnostic. More than most people can say. But I have never heard him say anything publicly. The same goes for political policis. He doesn't discuss things like abortion, but for him to talk taxes, interest rates, etc .... we should listen. Anything financial is within his circle of competence.

tmmjs
Tmmjs - 7 years ago
My comment above was made "tounge-in-cheek" and perhaps should not have been made at all. My apologies. I very much like the suggestion to stick to financial discussions in this forum. The other topics mentioned here -- politics and religion -- can be a dangerous place to go (lol). In all seariousness, there are interesting business/investing aspects to the interview. I particularly liked his comments on the prospects of bank stocks since I own WFC.
vooch
Vooch - 7 years ago
Buffett's dad was a politician. I believe he was a U.S. Congressman. 'nuff said.

- Vooch

sabonis
Sabonis premium member - 7 years ago
Buffett's dad was extremely right wing, the opposite of WEB.

This is my last political comment and then I will shut up and let everyone else rip me apart...the Democrats are the party of the rich and the Republicans are the party of those that want to get rich.

Look at the cities with the highest cost of living/housing prices....NYC, SF, Miami, Los Angeles, etc. They are almost all overwhelmingly Democratic cities. Look at all the money in Hollywood...almost all democrats. Go through the richest people in America and they are overwhelmingly democrats (at least those that let their view be known). IF you seperate by demographics, the Jewish Americans are the richest segment and they also overwhelmingly vote democratic (I dont know why african americans vote democratic).

I think the rich feel guilty and once their needs are taken care of they feel they have to tax everyone and manufacture big social programs that theoretically help "others". WEB gave money to Gates' foundation because he wanted to, not because the government made him do it.

I love him, I really do but his day to day concerns are 180 degrees different than mine. Maybe if I had my own private jet I would feel differently. WEB knows best when it comes to stocks, but I really wish he wouldn't endorse candidates.

Ok...I am off my soapbox.

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