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: