Fast Money

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Fast Money

What Should Buffett Buy?

Investors are keeping an ear toward Omaha as Warren Buffett prepares for his annual shareholder meeting on Saturday. The event is expected to draw 30,000 people or more to what’s affectionately called the “Woodstock for Capitalists.”

The faithful are eager to hear what the Oracle of Omaha intends to do next. On Monday of this week the legendary investor backed Mars in a $23 billion purchase of Wm Wrigleyforming the biggest candy maker in the world. Then on Tuesday Burlington Northern , the railroad in which Buffet owns a 20% stake, reported its highest profits ever.

Berkshire Hathawayis currently sitting on more than $40 billion in cash and now some shareholders are hoping Buffett will put more of that money to work.

Traders, if you were counseling Warren Buffett, what would you recommend as a buy?

Karen Finerman suggests Philip Morris International .

Guy Adami recommends 3M .

Jeff Macke thinks he should buy Microsoft .

Tim Seymour puts Grupo Televisa on the table.


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Trader disclosure: On May 2, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (ATVI), (DIS), (MSFT), (HAS), (INTC); Adami Owns (AGU), (NUE), (BTU), (C), (GS), (INTC), (MSFT); Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT); Seygem Asset Management Owns (EEM), (INFY); Finerman Owns (GS), (C); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (NYX), (MO), (MSFT), (PLCE), (PM),(YHOO) and (YHOO) Call Spreads, S&P 500 Puts, Finerman's Firm Is Short (WWY), (IYR), (IJR), (MDY), (IWM), (SPY), (COF); Finerman's Firm And Finerman Own (C) And (C) Leaps; GE Is The Parent Company Of CNBC