Warren Buffett: Ukraine won’t stop my stock buying
ironically, the header: is Buffett also rejected the idea the U.S. stock market is “rigged.”
Buffett: Bitcoin ‘isn’t a currency’
In response to a question, Buffett said bitcoin “isn’t a currency” and he “wouldn’t be surprised” if it’s not around in 10 or 20 years. Since the price keeps moving around so dramatically, “it’s very speculative, a Buck Rogers kind of thing” like the Dutch tulip mania in 1637.
You know, I’ve been meaning
to ask you your opinion about bitcoin.
What do you think
It’s not a currency.
I mean, you know, it does not meet the test of a currency. I
wouldn’t be surprised if it’s not around in ten or 20 years.
Why does it not meet the definition of a currency?
people say, “Well, I’ll sell you goods in bitcoins.”
But they change the
price of those every time the price
of the dollar changes in relation to bitcoins. They’re pricing
off the dollar.
They could say, “Well, I’ll sell it to you in barrels of oil.”
But if every time the price
of oil changes they change the number of barrels you have to have, that’s not
your oil is not the currency.
Yeah, but the yuan does that, too.
And people still look at that as a potential
, the Chinese
Well, yeah, well it is a currency.
But it is not a durable means of exchange.
It’s not a
And you said yourself you wouldn’t be surprised if i
t’s not around in ten
I would not be surprised.
I don’t know that, but it’s interesting to me.
I mean, it’s
been a very speculative, you know, kind of Buck Rogers type thing and people buy and sell them
ause they hope they go up or down just like they did with tulip bulbs a long time
That last remark, as Reuters points out, echoes Item No. 5 (out of 6) in Berkshire Hathaway’s Criteria for Acquisition:
(5) Simple businesses (if there’s lots of technology, we won’t understand it)
But what made the headlines Sunday were Warren Buffett’s remarks about Apple (AAPL) and Google (GOOG):
- “I would not be at all surprised to see them be worth a lot more money 10 years from now but I would not buy either one of them.”
- “I sure as hell wouldn’t short them either.”
- “We couldn’t predict what would happen to Apple 10 years ago and we can’t predict what will happen to it 10 years from now.”
- “The chances of being way wrong in IBM (IBM) are probably less, at least for us, than the chances of being way wrong in Google or Apple.”
- “I just don’t know how to value them.”
Buffett on IBM and Heinz
Buffett conceded he knows less about major Berkshire holding IBM than he knows about Wells Fargo, one of his banking favorites. He knows enough, however, to feel comfortable about owning the stock and IBM’s move lower means “nothing” to him.
Meanwhile, wells fargo has been bitcoining
Waiting for zerohedge’s take