Warren Buffett's investment company reduced its holdings in a number of big names, as well. » Read More
"There's no need to 'make America great again.' America is greater than it's ever been," Buffett said during a wide-ranging interview on CNBC's "Squawk Box." Buffett, a supporter of leading Democrat Hillary Clinton, said America is going to "become ever greater."
With persistently low interest rates around the globe, billionaire investor Warren Buffett told CNBC on Monday he'd consider taking money out of banks, especially if negative interest rates result in customers being charged to park their money in accounts.
"There could be a point where you'd really want to start withdrawing currency," Buffett said in a wide-ranging "Squawk Box" interview from Omaha, Nebraska, after he hosted the annual meeting of Berkshire Hathaway shareholders on Saturday.
"If currency in a bank is worth less than currency in your hands ... that could produce something in the way of behavior," he said. "It's a different world. If you have a lot of money in euros, as we do ... you're better off putting it under your mattress than in a bank."
"We haven't seen many businessmen like him," Berkshire Hathaway's chairman and CEO told CNBC's "Squawk Box." "Overwhelmingly, he's taken things you and I've been buying and he's figured out a way to make us happier buying those products, either by fast delivery or prices or whatever it may be, and that's remarkable."
Amazon has grown at an exponential rate since its foundation in 1997, and that's being reflected in its stock price. Since then, Amazon shares have grown nearly 44,000 percent.
Amazon in last 10 yearsSource: FactSet
The U.S. economy grew at a dismal 0.5 percent rate in the first quarter, the Labor Department said Thursday.
"There's one little thing that many people don't understand about the GDP figures. Maybe I don't understand it, but my understanding is they're sequential figures. You take the figures from one quarter to another and multiply by four. So, if you're off by a tenth [of a percent] on the seasonal adjustment, that becomes a four-tenths figure," Buffett said. Still, he added, "that doesn't negate the fact that business is slow. It's not negative, but it's slow."
The stock was at $145.94 in premarket trading Monday.
"We feel fine or we won't own it. We've never sold a share of IBM. Periodically. we buy a little bit more," Buffett told CNBC's "Squawk Box" in an interview from Omaha, Nebraska. "We have not been an aggressive buyer, but we've been a buyer."
Buffett-run Berkshire Hathaway owns a 8.51 percent stake in IBM. "I think I can safely say we would be much more likely to buy more in the next 12 or 24 months than we would be to sell shares."
Buffett hosted the annual meeting on Berkshire shareholders on Saturday in Omaha.
Valeant has been under significant pressure from lawmakers and shareholders after the company hiked prices for certain drugs. On Sunday, The Wall Street Journal reported that Pearson was key in making those decisions. Valeant's board ousted Pearson in March. Last week, Valeant named Joseph Papa to succeed Pearson.
Valeant declined CNBC's request for comment. CNBC could not immediately locate Pearson for comment.
Berkshire Hathaway held its annual shareholders meeting on Saturday, and attendees listened closely to Chairman and CEO Warren Buffett and Vice-Chairman Charlie Munger at what observers call "Woodstock for Capitalism."
Here are some of the best quotes and highlights of the day:
Warren Buffett and his longtime business partner Charlie Munger appeared before thousands of Berkshire Hathaway shareholders in Omaha today.
Here's what they had to say, minute-by-minute, in their marathon Q&A session. (App users,
Warren Buffett said Saturday that Wall Street's real source of wealth is not based on its strong investment acumen, but on something else.
"[There's] far more money made through salesmanship abilities rather than investment abilities," Buffett, Berkshire Hathaway's chairman and CEO, said at the company's annual shareholders meeting.
Buffett added many hedge fund managers are paid "just to breathe" based on a flawed compensation scheme. He also said high-paid consultants always recommend something other than doing nothing, and benefit from long-term growth of US business.
In turn, Buffett recommended that investors take a more passive approach to investing, noting his long-term bet against Protoge Partners still shows this approach works much better than active management.