Becky also asked him about the upcoming Facebook initial public offering that's created so much excitement among investors. It's no surprise he told her Berkshire won't be investing in Facebook, but he rejects the idea that we're seeing another internet "bubble."
"We aren't in any bubble phase on anything. People get excited about companies that have done that well. They should. It's extraordinary what's happened with that company. But we have not got to the point where you can come along and name anything 'net-net' something and have it just go wild. So this is not a bubble."
Buffett and his partner Charlie Munger are scheduled to answer questions from shareholders for six hours starting at 9:30a Central Time.
Becky and her "Squawk Box" co-anchor Andrew Ross Sorkin will be part of the trio of journalists who will also be posing questions. For the first time, there will also be a panel of Wall Street analysts.
Then on Monday morning starting at 6a ET, Buffett will be live with Becky on "Squawk Box" for the program's entire three hours.
We'll have extensive coverage of all this, including tomorrow's Q&A, here at Warren Buffett Watch.
You can also follow Tweets from Becky (@beckyquickcnbc), Andrew (@andrewrsorkin), and me (@alexcrippen), and join the conversation with the hashtag #BuffettWatch.
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