What Does Warren Really Think?
Fresh from her trip to the Far East with the greatest investor in the world, Becky Quick reveals what Warren Buffett really thinks of China.
During their travels together Quick asked Buffet if he thought unprecedented growth was a bubble in China’s economy.
He said, "I don’t know if it’s a bubble but it has gone up an awful lot and I'm suspicious. I would be very skeptical that you could find a lot of bargains in a market that’s moved as much as the Chinese market, but I really haven't looked at the individual stocks at all. There's no question that this economy is booming like we haven't seen in the United States for a very long time if ever."
Quick adds that Buffet is only hesitant to jump-in because he feels China’s market has run-up considerably and he doesn’t want to chase opportunity. However, he’s also reluctant to say China can’t keep growing at the same rate.
On a related note, Quick explains that Buffett isn’t changing his investments based on what he’s seen in China.
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Trader disclosure: On Oct 29, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (INTC), (SWY), (EMC); Najarian Owns (UA) And (UA) Options; Najarian Owns (BHI) Options, (DISH) Options, (GOOG) Options, (HAL) Options, (MER) Options,(SNDK) Options, (YHOO) Options; Finerman's Firm Owns (MSFT), (TWX), (YHOO), (NMX), (NYX); Finerman's Firm Owns (NVT) And (NVT) Options; Finerman's Firm And Finerman Own (C), (BEAS); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns (BIIB) Options; Finerman's Firm And Finerman Own (GS), (KFT); Finerman's Firm Is Short (MER) And Owns (MER) Puts