‘No Plans to Invest in Facebook IPO’: Warren Buffett

Warren Buffett
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Warren Buffett

Warren Buffett said Friday he had no plans to invest in the Facebook’sinitial public offering, but said what’s happening with the social media giant is “extraordinary.”

“People get excited about companies that have done that well,” the chief executive officer of Berkshire Hathawaytold CNBC’s “Squawk Box.”

When asked whether the current attention surrounding Internet IPOs reminded him of the tech stock bubble of the late 1990s, the Oracle of Omaha said, “It is not a bubble ... this is not what we were seeing in late 1999 all the way into 2001. We aren’t in any bubble phase of anything.”