Why Warren Buffett Thinks Korean Stocks Look Good
CNBC's Becky Quick traveled exclusively with Warren Buffett on his recently completed whirlwind tour of China and South Korea.
She's filed a number of video reports from the two countries. (For the reports from China check out the WBW posts Speed Building a Factory in Chinaand Warm Welcome in China. I've also posted a report from Korea about why Buffett is excited about a company others might find 'boring.')
This morning, Squawk Box aired this report featuring Buffett explaining in his own words why he finds Korean stocks generally attractive over the long-term:
Becky: We're here in Daegu, South Korea with Warren Buffett. And you may remember four years ago, Buffett said South Korea was his favorite stock market in the entire world. So, what does he think about the Korean stock market today?
Warren: My impression is the Korean market is modestly cheaper than most markets around the world, but I am just looking at price earnings ratios, and you have a flourishing economy here with 50 plus million people that seem to be working very hard. So, ah, I would think that the Korean market would do as well over the next 10 years ... not 10 weeks, 10 months ... but 10 years, as most markets, and perhaps a little better.
Becky: Monday Morning on Squawk Box, we'll have more on his entire trip to Asia, what he's been saying, what he's been doing and how the markets have been reacting. We'll have all of that for you Monday morning right here on Squawk Box.
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