Buffett on Stocks: I'm Buying

The lower prices go, the more aggressive he gets
By Matt Cantor,  Newser User
Posted Aug 11, 2011 3:54 PM CDT
In this May 1, 2010 file photo, Berkshire Hathaway Chairman and CEO Warren Buffett gives an interview in Omaha.   (AP Photo/Nati Harnik)
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(Newser) – Amid economic uncertainty, how’s Warren Bufftet holding up? “Never been better,” he tells CNNMoney. “The lower things go, the more I buy. We are in the business of buying.” Meanwhile, he says he still sees US treasuries as triple-A, “in that there is no question that we will repay the interest and the principal. Every contract will be repaid.” Buffett’s Berkshire Hathaway has, in the wake of the US downgrade, seen the outlook on its AA+ debt lowered to negative by Standard and Poor's.

As to that, he notes: “They said some time ago that if they changed the ratings on governments they would lower the outlook on certain insurance companies because they own a lot of governments. So as a derivative move I understand it, but I don't agree with it because I don't agree with the Treasury downgrade.” As for his businesses: “Up until right now, all of our businesses have been coming back,” other than home construction—though things could change in the coming weeks, he says. Are we facing another downturn? “Not yet, but it would take a little while to show up."

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