In an exclusive interview with CNBC, Berkshire Hathaway Chairman Warren Buffett said the stock market isn’t “ridiculously overpriced” and that Berkshire is having a hard time finding a "huge" acquisition with the $46 billion in cash it has on hand.
Buffett also told CNBC's Liz Claman in a live interview in Omaha, Neb., that:
--There are three "terrific" candidates to succeed him as CEO of Berkshire Hathaway, though he didn't name them. He also said he may try out several candidates for chief investment officer to see how they do.
--Berkshire Hathaway won’t bid for Dow Jones, which has recieved a $60 a share offer from News Corp.'s Rupert Murdoch. “I couldn’t buy it for Berkshire because I’d have to buy it for an uneconomic price,” Buffett said. “The only way I could do anything is if I did it individually, which is very, very unlikely."