Warren Buffett (Trades, Portfolio), chairman and CEO of Berkshire Hathaway (BRK.A, Financial)(BRK.B, Financial), joined CNBC's Becky Quick for a wide-ranging interview spanning topics covered in his annual shareholder letter, his loss on Kraft Heinz (KHC, Financial), his stake in Apple (AAPL, Financial) and his investing philosophy.
During the two-hour discussion, Buffett addressed market valuations. While his company's cash stockpile grows, he told Quick he would prefer to buy companies outright but that they were too expensive at current prices. Common stocks still look attractive to Buffett.
He also answered questions regarding his largest position, Apple. Buffett's average cost per share for the holding was $141, but he has never sold a share, he said. Rather, the 1.14% reduction made to Berkshire's holding in the fourth quarter was made by one of his portfolio managers, Ted Weschler or Todd Combs. One of the managers sold part of his holdings of his $13 billion he manages in order to buy another stock, Buffett said.
Learn more about Buffett's political candidate support for 2020, outlook for banks such as JPMorgan Chase (JPM, Financial) and take on bitcoin, among other topics, in the video below:
Watch CNBC's full interview with iconic investor Warren Buffett from CNBC.
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