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Buffett interview on CNN Money 11 Nov 2016


kiwing100
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I have rarely seen Buffett seem so uncomfortable talking about the first two subjects. It clearly showed that he was weighting it's words big time to keep it's habit of praising individuals and blaming groups alive. I guess he was not happy about doing it tough, especially the part about WFC's reputation.

 

BeerBaron

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Yea that was classic Buffett. Praising everyone and not saying much by saying a lot. He did seem very uncomfortable especially during the Wells part.

 

My guess is that these awkward situations will happen more and more as Berkshire grows. On the Wells thread someone mentioned aggressive sales tactics at Kerby vacuum cleaners. Well nobody's heard of nor do they care much about Kerby vacuum cleaners. But an awful lot of people are familiar with the elephant businesses.

 

As Berkshire matures into this new era they will have to redefine their governance and sadly their communications.

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  • 2 weeks later...

Didn't he say in that interview he thought the US economy based on Berkshire subs was softer than people think (

) and that he thought Q3 GDP would be revised downward and that it was lower than reported? Today GDP came out and it was revised upward from 2.9 to 3.2%

I guess we can see here an example of how hard macro is to predict even for the most brilliant investors!

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Everyone is subject to their own biases. He was a big Hillary supporter and one wonders if the election didn't figure into his perception.

A lot of business optimism has emerged in the business class which felt besieged by the Obama administration. Could that have contributed to the bump?

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