Buffett's Words Of Wisdom

When you think of powerful women you probably think of Hillary Clinton or Melinda Gates. Well there’s a new woman to watch.

Our own Karen Finerman is taking the West Coast by storm at Fortune’s Most Powerful Women summit in California.

And talking about powerful who better to anchor the event than Warren Buffett. The ‘Oracle from Omaha’ was a keynote speaker at the conference and Karen Finerman relayed some of his comments.

Warren's Words Of Wisdom

During a discussion of Goldman Sachs and GE the prospect of Buffett doing another deal came up. Although he didn't answer directly the Chairwoman gets the sense that “he’s got another deal to do." But Buffett isn't one to slip at the tongue. "I don’t know what it is,” she adds.

In terms of the bailout, there’s a lot of nervousness in general, she adds. Buffett talked about the need for a bailout and his confidence that something would be passed very soon. Finerman asked if Buffett might manage the plan, but he didn’t answer.

"He does have such credibility that I think that in itself would be helpful,” she says. “He’s also a big believer in the US economy but feels we’re in for a slowdown in the short-term,” she says.

We thought you'd be interested.

> Click here to see a complete list of Fortune’s Most Powerful Women

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Trader disclosure: On Oct.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 (UUP), (MSFT), (WMT); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (MER), (MS); Seygem Asset Management Owns (FXI); Pete Najarian Owns (AAPL) And (AAPL) Puts; Pete Najarian Owns (GS) Call Spread; Pete Najarian Owns (MS) And (MS) Put Spread; Pete Najarian Owns (NCC) Call Spread; Pete Najarian Owns (RF) And Is Short (RF) Calls; Pete Najarian Owns (SPLS) Put Spread; Pete Najarian Owns (WB) Call Spread; Pete Najarian Owns (XLF) Call Spread; Finerman's Firm Owns (MSFT), (PM), (GS)

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