Buffett says has no plans to take a position in Facebook

Elite in Sun Valley, Idaho At the meeting, Buffett said the arrange warrants stay unchanged for Goldman Sachs, and praised Goldman Sachs CEO Blankfein (Lloyd Blankfein), hope he will continue responsible of Goldman Sachs. Warren additionally said that he would be the last one that cares concerning technology stocks.

Goldman Sachs in 2013, the exercise of subscription rights

 

Elite in Sun Valley meeting, Buffett said, his command Berkshire - Hathaway (BRK) can stay on the Goldman Sachs cluster (GoldmanSachs) of the warrants remains unchanged, he are the ultimate maturity date in 2013 one or 2 months to exercise the choices.

In March, Goldman Sachs cluster announced redemption of $ five.5 billion paid in 2008 when the world monetary crisis, Berkshire sold to Goldman Sachs cluster most well-liked stock, together with distribution of a price of $ one.64 billion one-time most well-liked dividend. After this, Berkshire - Hathaway can still hold forty three,478,260 normal shares were Goldman Sachs cluster choice.

It is no marvel that Warren likes Goldman Sachs CEO Blankfein, Goldman Sachs hope he continues to charge. When asked whether or not that Blankfein are in a very few months when his resignation from Goldman Sachs, Warren Buffett, said enthusiastically, "I don't suppose he would resign, i need him to stay!"

2008 economic crisis, Warren fifty billion U.S. bucks to the Goldman Sachs bought a number of the popular stock, so as to extend the capital to assist Goldman Sachs cluster, survive, and these elements to revive market confidence in investment banking big. Goldman Sachs cluster before bankruptcy of Lehman Brothers triggered a monetary crisis in stock worth declines, resulting in surge in borrowing prices.

The last one that cares concerning technology stocks

While investors are wanted fashionable on-line start-up firms, however Buffett said he didn't arrange investments in technology industries. He said, "This isn't my game world is continually changing, i used to be out of date."

When asked concerning the world's largest social network Facebook are able to open the market, and is valued over $ one hundred billion, Buffett can contemplate investing in, he replied, "I are the last person to come back raise. "

Buffett said he didn't understand what makes Facebook, Groupon, Zynga, and LinkedIn, this company was valued billions of bucks, "maybe they need to be valued among some huge cash, however I don't understand what." Buffett believes that the longer term of the foremost successful firms can define a number of the individuals needed, albeit these individuals don't currently understand what they need.

Thursday, IAC Chairman Barry Diller said in Sun Valley, the present market valuation is just "crazy over-estimated." Nevertheless, Buffett expressed its adherence to long-term hold strategy are more than happy that he believes his ability to still notice during this market, "great" investment.

Buffett said, "We are craving for firms who aren't crazy, I don't shrewdness to assess the worth of most firms, however there are few firms i do know how the valuation, then one in all them can fall to my valuation vary.