Warren Buffett Watch
- Warren Buffett's Berkshire Hathaway Adds GM to Holdings
- Lunch With Warren Buffett: $2 Million-Plus?
- Warren Buffett: Lady Di Called Bill Clinton 'Sexiest Man Alive'
- CNBC Transcript: Warren Buffett on Squawk Box
- Warren Buffett: We're Buying Two US Stocks
- Warren Buffett to CNBC: Mark Zuckerberg Right to Keep Tight Control Over Facebook
- Warren Buffett: Apple and Google Too Risky For Me
- Warren Buffett Reassures Shareholders on Cancer and Succession
- Warren Buffett Recently Considered $22 Billion Acquisition
- Warren Buffett 'Very Comfortable' With Berkshire Stock Buybacks
RSS FEED
MOST SHARED
- Greece to Exit Euro, New Currency to Fall 60%: Citi
- Facebook IPO Fiasco: 10 Things Underwriters Got Wrong
- Romney Donors Have Chance to Dine With Trump
- What College Tuition Will Look Like in 18 Years
- Europe Stocks Close Broadly Flat on Greece Worries
- What Would Greek Exit Mean for the US Economy?
- Consumer Sentiment Jumps in May to Four-Year High
- Yoshikami: Four Things You Need to Know About Gold Now
- Bacon Tourism: From the Davos of Bacon to Bacon Mecca
- China Counter-Challenges US Over Subsidies at WTO
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Under Pressure, FHA Skews to Wealthier Home Buyers
- Big Stock Upside for Hudson City Deal: Analyst
- 5 High-Yield Stocks Ready to Boost Dividends
- Yoshikami: Four Things You Need to Know About Gold Now
- Steinbock: The Euro Zone Endgame Begins
- Option Bulls Take Another Shot on Idenix
- Top 20 European Stocks for Crisis Time: Strategist
- Curt Schilling’s Videogame Company Goes Bust
- Sticker Shock: What College Is Likely to Cost in 18 Years
- What Happened to Stocks? Most Unloved in 50 Years
- Many Greeks Moved Their Money Abroad Long Ago
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- What Would Greek Exit Mean for the US Economy?
- Big European Funds Confirm Dumping Euro Assets
- Why Are Greek and Italian Politicians So Bad?
- Main Players in the Greek Election
- Return to Drachma Risks Social Explosion: CEO
Warren Buffett Tells CNBC He Sees "Enormous Divergence" Ahead for Financials
Text Size 
Executive Producer
 |
In a live interview with CNBC's Becky Quick a few minutes ago, Warren Buffett predicted "enormous divergence" ahead in the stock performance for financial companies. In response to a question about whether financials might be the best-performing stock sector next year, Buffett advised against buying financials as a group. He said some will do well but others have done some "really dumb things."
CLICK HERE FOR THE VIDEO AND TRANSCRIPT OF THE FIRST PART OF THE BUFFETT INTERVIEW
CLICK HERE FOR THE VIDEO AND TRANSCRIPT OF THE SECOND PART OF THE BUFFETT INTERVIEW
He also tells Becky that while there has been enormous weakness in housing, so far it hasn't been felt in the employment market. But, he says, there are a lot of "dominoes" that could fall in the economy should housing weakness spread. The result, he fears, could be a recession.
As for sales at the retailers owned by his Berkshire Hathaway holding company, Buffett says they're not looking "buoyant" this holiday season, and he's not sure they'll beat last year's sales results. But he notes, it is the nature of capitalism to have recessions and he hopes to live long enough to see several more in the United States.
He recalls that he made some of his best stock buys during recessions, especially the downturn of 1974. but he says the current economic situation is nowhere near as bad as that one.
Buffett gave the Bush administration's plan to encourage lenders to freeze some variable interest rates a qualified endorsement, saying it isn't in anybody's interest to throw people out of a house if they continue to make the payments.
A reminder that CNBC.com will live stream today's Hillary Clinton fund-raiser hosted by Warren Buffett at about 3:30p ET and that Becky Quick will be interviewing Buffett and Clinton together, live at about 5:10p ET on Fast Money.
Questions? Comments? Email me at
Data is a real-time snapshot *Data is delayed at least 15 minutes
