Canaccord Genuity Morning Coffee on Warren Buffett: Even Buffett Has His Mystery Stocks
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Rating Summary:
8 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity Morning Coffee on Warren Buffett: Even Warren Has His Mystery Stocks.
In an interview with CNBC on Monday from Japan, Warren Buffett chimed in on the Eurozone crisis. Buffett said, "The system as presently designed has revealed a major flaw. And that flaw won’t be corrected just by words. Europe will either have to come closer together or there will have to be some other rearrangement because this system is not working." Buffett doesn't see many parallels between the Eurozone crisis and concerns over debt in the U.S. "Seventeen countries in the world gave up the right to issue bonds in their own currency. That is 100 degrees away from being able to issue them in your own currency like the United States. The situation there is fundamentally different." With respect to European equities, Buffett said he has begun seeing some real bargains in Europe. Buffett said, "When I left Omaha, I left an order to buy one European stock which we will undoubtedly be buying today, and we'll probably be buying it tomorrow and the next day, and next week and next month. As you know, it's a matter of record that earlier this year we bought some Tesco, for example. There are - I can think of a dozen European stocks that are quite attractive. Whether they're more attractive than something else I can find in the United States depends on the prices on any given day, or any given week. But there are European stocks I like and there's some wonderful businesses in Europe and the prices have come down on some of them. If the price came down some on Tesco (Nasdaq: TESO), I'd buy some more of that."
Stocks of Note: Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B)
In an interview with CNBC on Monday from Japan, Warren Buffett chimed in on the Eurozone crisis. Buffett said, "The system as presently designed has revealed a major flaw. And that flaw won’t be corrected just by words. Europe will either have to come closer together or there will have to be some other rearrangement because this system is not working." Buffett doesn't see many parallels between the Eurozone crisis and concerns over debt in the U.S. "Seventeen countries in the world gave up the right to issue bonds in their own currency. That is 100 degrees away from being able to issue them in your own currency like the United States. The situation there is fundamentally different." With respect to European equities, Buffett said he has begun seeing some real bargains in Europe. Buffett said, "When I left Omaha, I left an order to buy one European stock which we will undoubtedly be buying today, and we'll probably be buying it tomorrow and the next day, and next week and next month. As you know, it's a matter of record that earlier this year we bought some Tesco, for example. There are - I can think of a dozen European stocks that are quite attractive. Whether they're more attractive than something else I can find in the United States depends on the prices on any given day, or any given week. But there are European stocks I like and there's some wonderful businesses in Europe and the prices have come down on some of them. If the price came down some on Tesco (Nasdaq: TESO), I'd buy some more of that."
Stocks of Note: Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B)
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