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"Freeloading" Warren Buffett Talks to CNBC in Sun Valley

Our CNBC team at the big Allen & Co. media conference in Sun Valley has just reported back that they spoke with Warren Buffett .. on-camera .. a short time ago.

Producer Lacy O'Toole sent back this email as she and reporter Julia Boorstin (who is also reporting from the conference on her own CNBC.com Media Money blog) drove to a feed point to send back tape of the interviews they've done, including Buffett's:

Buffett talked to us about Berkshire's recent purchase of two small jewelry companies. He says that even though he bought one of them them from a private equity company, he hasn't necessarily changed his mind about private equity deals. In the past, Buffett has said that PE is making it harder for him to make big acquisitions because things aren't cheap.

Buffett laughs when asked about social networking and the buzz of this year's event. He says he comes for the freebies. Buffett then headed to the grill to pick up his lunch of a hamburger and Coke. The whitewater rafting trip that was scheduled for this afternoon was canceled because fires in the region have closed roadways. Buffett doesn't mind though...he says he doesn't do much in the way of activities while he is here.

I'll post videotape of the entire conversation as soon as it arrives a little later this afternoon.

Questions? Comments? Email me at buffettwatch@cnbc.com

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