Warren Buffett Sees Buying Opportunity in Japan Amid Disaster (BRK.A) (BRK.B)
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Berkshire Hathaway's (NYSE: BRK-A) (NYSE: BRK-B) Warren Buffett said Monday that the turmoil in Japan following the devastating earthquake and Tsunami has created a unique buying opportunity for shares of Japanese companies.
"It will take some time to rebuild, but it will not change the economic future of Japan," Buffett said. "If I owned Japanese stocks, I would certainly not be selling them."
The billionaire investor said that Berkshire Hathaway was sitting on $38 billion in cash at the end of 2010 and will be looking for more large scale acquisitions around the globe following its purchase of Lubrizol Corp. (NYSE: LZ) last week for $9 billion.
"Frequently, something out of the blue like this, an extraordinary event, really creates a buying opportunity. I have seen that happen in the United States, I have seen that happen around the world. I don't think Japan will be an exception."
Buffett said that the U.S. is the likely spot for an acquisition by Buffett going forward, according to a letter he sent to shareholders last month.
"It will take some time to rebuild, but it will not change the economic future of Japan," Buffett said. "If I owned Japanese stocks, I would certainly not be selling them."
The billionaire investor said that Berkshire Hathaway was sitting on $38 billion in cash at the end of 2010 and will be looking for more large scale acquisitions around the globe following its purchase of Lubrizol Corp. (NYSE: LZ) last week for $9 billion.
"Frequently, something out of the blue like this, an extraordinary event, really creates a buying opportunity. I have seen that happen in the United States, I have seen that happen around the world. I don't think Japan will be an exception."
Buffett said that the U.S. is the likely spot for an acquisition by Buffett going forward, according to a letter he sent to shareholders last month.
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