Billionaire investor, chairman and CEO of Berkshire Hathaway (BRK) Warren Buffett delivered personal comments in an interview with CNBC’s Becky Quick from his hometown Omaha, Nebraska as his company was online publishing his annual letter to investors.
After explaining some recent change in the accounting rules, the 88-year-old investor stressed on the importance for him and his friend Charlie Munger of keeping a significant cash reserve in order to face uncertainties while remaining fully capable of grabbing relevant investing opportunities.
Also, Buffett said he still finds stocks attractive in the long run although it’s been tough for an active investor to beat the S&P 500 index in the last eight years. Besides, if he had to invest for a 10-year period, he’d rather buy the S&P 500 instead of a 10-year Treasury bond, this way underlining his continued confidence in the market and the US economy in general.
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