Monday, October 29, 2007

Hangin' with Warren Buffett: U.S. Sub-prime, Korea

From the AP via MSNBC:
Billionaire says housing slump will affect consumers for up to 2 years
..."In the next 6 months, one year, two years the problems in the mortgage market can cause a lot of problems with consumers and hurt buying power in the United States," he said at a press conference after arriving earlier in the day from China on his private jet.

However, the U.S. economy has often had to face various difficulties and the present was no exception, Buffett said.

"Overall the economy will make progress," he said....MORE

From Reuters
Buffett sees dollar weakness

Billionaire investor Warren Buffett said on Thursday he expected the dollar to weaken further, adding that South Korean stocks offered better value than other world markets.

Buffett, worth $52 billion according to Forbes magazine in March, said his Berkshire Hathaway (BRKa) company is still on the hunt for bargains as the U.S. subprime mortgage crisis plays out.

"We are still negative on the dollar. We bought stocks in companies that are earning their money in other currencies," he told reporters during a visit to Berkshire's Korean cutting tool maker subsidiary, TaeguTec....MUCH MORE

From Dong-A:

...Regarding the question on his willingness to invest in North Korea, he said, “For me to invest in North Korea, there would first have to be a lot of changes in the country. In this regard, my company will not make an investment in North Korea in my lifetime.”

“I don’t invest in companies that I don’t understand” -