Warren Buffett (Trades, Portfolio) joined CNBC’s Becky Quick to talk about market valuation, Wednesday morning’s announcement that he invested in Pilot Flying J, bonds vs. stocks, and other topics.
Buffett’s Berkshire Hathaway (BRK.A, Financial)(BRK.B, Financial) purchased a 38.6% stake in Pilot Flying J, the largest travel center company in North America. In 2023, Buffett will become the majority shareholder with an additional 41.5% equity stake while the founders, the Haslam family, will retain a 20% stake.