BRIEF-Warren Buffett, Charlie Munger discuss China, Apple, Occidental, Canada/Mexico, Wells Fargo

Canada/Mexico, Wells Fargo@

May 6 (Reuters) - Buffett says apple inc, a major holding of his company berkshire hathaway, has done 'terrific' job buying back its own stock; says ceo tim cook has 'done that aggressively when the price is right' Buffett says berkshire, which bought back $1.7 bln of its own stock in q1, still prefers buying whole businesses Warren buffett says 'united states is going to grow over time' and 'if you own decent businesses you will make money'; downplays day-to-day impact of negative headlines -- cnbc Buffett says about stocks and businesses: "i will always react well to declining prices" Buffett says china and the united states will be the two world superpowers for the next 100 years Buffett says there will always be tensions between the u.s. And china, says 'every time we sit down it won't be like a garden party' Bufffett says 'china's rise in their economy has been extraordinary' Buffett says 'more trade is better' Buffett says: "trade with mexico and canada is enormously important. We should treat them as neighbors, and not adversaries.' Berkshire vice chairman charlie munger says occidental transaction with anadarko has 'got potential,' citing oil-rich permian basin Buffett says stocks look like a better investment than bonds yielding 3 percent Buffett says about uber ipo: 'in 54 years, i dont think berkshire has ever bought a new issue' Munger calls wells fargo 'a fine company,' says its improper practices reflected 'an honest mistake, not a deep moral failure' Munger says wells fargo had a 'big blind spot', ex-ceo tim sloan didn't have a blind spot but lost his job because 'life is hard' Munger says sloan's predecessors dick kovacevich, john stumpf had blind spots Buffett says he talked recently with wells fargo board members after company contacted him