Warren Buffett tells CNBC that Berkshire Hathaway hasn't added to its stock holdings of American Express "in years."
That's in response to a statement made by biographer Alice Schroeder in the just-published paperback edition of The Snowball.
In a new chapter that continues the Buffett story through the financial crisis that accelerated in the months after last fall's publication of the hardcover Snowball, Schroeder writes that Buffett incorrectly predicted Wells Fargo, a Berkshire holding, would not have to issue new stock.
She continues:
"He scored better a few weeks later when Berkshire’s SEC filings revealed that he had been buying American Express while the stock was on its back."