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Buffett: Japan Presents 'Buying Opportunity'

Country's 'economic future' unchanged, says investing guru

By Matt Cantor, Newser Staff

Posted Mar 21, 2011 12:30 PM CDT

(Newser) – There’s no need to panic about Japanese markets post-earthquake, says Warren Buffett: Such cataclysmic events often create a “buying opportunity,” he tells Reuters from South Korea. “It will take some time to rebuild,” but the market plunge “will not change the economic future of Japan.” Put it this way: “If I owned Japanese stocks, I would certainly not be selling them.”

A Hong Kong investor agrees: “I saw lots of buying last week by overseas investors,” notes the Asian equities boss. “I tend to agree with Mr. Buffett for the long term. I suppose the economy will be weaker over the short term but reconstruction spending will eventually help.” And there will be plenty of that: The World Bank today said it expected the 5-year reconstruction effort to cost as much as $235 billion. Shares of Japan’s top home construction firm have already skyrocketed, the New York Times reports.

In this May 1, 2010 file photo, Berkshire Hathaway Chairman and CEO Warren Buffett gives an interview prior to participating in the annual shareholders meeting, in Omaha, Neb. (AP Photo/Nati Harnik)

Microsoft Corp. co-founder Bill Gates, right, speaks while American billionaire Warren Buffett listen during a news conference in Beijing, China Thursday, Sept. 30, 2010. (AP Photo/Andy Wong)

Berkshire Hathaway CEO Warren Buffett attends the Fortune Most Powerful Women summit at Mandarin Oriental Hotel on October 5, 2010 in Washington, DC. (Getty Images)

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COMMENTS

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Showing 3 of 8 comments

LaughingMan

Mar 22, 2011 6:23 AM CDT

warren you vulture! shame on you! you better donate 500k $ right NOW to the japanese red cross or else...

eva44

Mar 21, 2011 10:09 PM CDT

I am glad people like to invest, but it's getting on my nerves that people look at disasters and first think of the money they can make from it. And we wonder why the richest 1% has such a large piece of the pie.

fourCatssoon

Mar 21, 2011 2:44 PM CDT

My comment to Warren the Buff is this - Warren two things i want to bring to your attention knowing you may never read this comment. 1. Your company GEICO keeps advertising it can save me money on my car insurance. I am 73 clean driving record. i called for a quote - GEICO quote was 15 percent higher than anyone else. 2. Your company GEICO has been running two commercials so long that anyone with marketing skill knows the life of a commercial is only so long. The two i point to is - first a guy walks in a room like he is some big shit and make his stupid pitch, next commercial is that of that green bug with the old man and the old man talking to the green bug, get/can these two endless pieces of shit. I know you will say in response that this company is making a ton of money for you, great and we the consumer has to puke with this crap qualify commercials. Warren you for one listen to me and stop counting all your money and save the USA from this crap, get a job Warren:) I feel better now.

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Buffett: Japan Presents 'Buying Opportunity'

Country's 'economic future' unchanged, says investing guru

OTHER STORIES ON OUR RADAR

investing • stock market • Japan • Warren Buffett • reconstruction • markets • Asian markets • Japanese economy • Japan earthquake

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