Comments from Buffett on CNBC:
- Says be bought more shares of IBM in Q3
- I've still got money left, I never go below $20 billion in cash
- We like Phillips 66 and the management but it's the only oil and gas company we own
- Confident stocks will be higher in 5-10 years
- I've always thought the Fed will be slow
- They've never asked me to be a member of the Fed because they probably think I don't know anything about it, and they're right
- Q/Q skew GDP. In the Y/Y sense we've been in the 2 to 2.5% range for a few years
- I think we're still on the 2% to 2.5% economic growth rate we've been on for the past 6 years
- The Fed probably will move off 0%
- If our rates got substantially higher than Europe, I think that wouldn't be good for exports
- I wouldn't be terribly aggressive I was in the Fed's position
- I've never made a decision on what I think the Fed is going to do in the near term or long term
- If rates go up 100 bps, it doesn't change the equation for me
- I admire Bernie Sanders but he won't win
- There's a feeling "I'm fed up and I want something else" in US politics
- "There is a lot of dissatisfaction with Washington"
"I never go below $20 billion in cash" are the words I live by.
