LIVE BLOG: Warren Buffett on CNBC's Squawk Box - 8am ET Hour
In response to an email question: "Love is the most complicated and rewarding thing" when compared to business or science.
Buffett says no interest in being U.S. president. "Compromises you'd have to make just wouldn't appeal to me." Buffett says he loves his current job.
Agricultural commodities have had a quite a run, although wouldn't want to predict exactly where they'll be in the future. Oil, on other hand, looks like it will go up as production is outpaced by consumption, since oil supply is essentially limited. Land can get more productive in growing things but I think oil is finite. Oil fields are "depleting at a pretty good rate."
Is there a next generation play in energy? Buffett: We have a lot of wind farms and we're going to have more, but that is not big answer to the kind of energy demand that is going to come along. We have to do all we can on alternative energy but it won't be a cure-all.
Succession plan for annual letters? Buffett: Whomever takes over will probably write the same kind of letters I did. "We've set a tone for that."
Buffett: "Maybe once or twice" has bought and sold a stock on the same day but can't remember when.
Q. Who's smart when it comes to financial matters? Buffett: Bill Gross, Charlie Munger, the four people we've identified to be possible successors as investment chief for Berkshire Hathaway, are all smart. plenty of smart people out there, although he doesn't know many of the younger ones.
Many thanks to Warren Buffett for appearing during Squawk's three hours. Joe jokes that next time he'll want to read the headlines, too.
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