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Home / Business / Warren Buffett still likes stocks but sees no value in bitcoin

Warren Buffett still likes stocks but sees no value in bitcoin



As much as he likes stocks, Buffett said in the last eight years, or it has been a tough environment for active investors to beat the S&P 500 index.

He actually told CNBC that Berkshire Investment Managers Ted Weschler and Todd Combs have beaten the S&P 500 with a "little bit" since coming to the company.

In the late 40s, Combs arrived in 2010 after a three-year search by Berkshire for some to help deal with its massive portfolio of stocks. Weschler, in the late 50s, came to Berkshire two years later, having paid a total of $ 5.3 million to win the 2011 and 2010 auctions for an annual charity lunch with Buffett.

However, Buffett pointed out that Combs and Weschler ̵

1; both former hedge fund managers and each managing about $ 13 billion in the Berkshire portfolio – have done better in the market than he has over the same time period.

Berkshire – whose stock holdings, including the top six market capitalization Apple, Bank of America, Wells Fargo, Coca-Cola, American Express and Kraft Heinz – were worth nearly $ 173 billion by the end of 2018.

In the wake of Friday's 27 percent decline in shares in Kraft Heinz after the company announced a $ 15 billion write-off of two key brands, Buffett said: "We paid for Kraft", which in 2015 berkshire and Brazilian private equity firm 3G Capital merged with HJ Heinz , the global ketchup power plant it bought in 2013.

For Apple, Buffett told CNB C on Monday, "If it were cheaper, we would buy it. We don't buy this." He added, "I don't see me self-selling – the lower it goes, the better. I like it of course. "

While governments show that Berkshire trimmed its Apple efforts in the fourth quarter, Buffett said it was Weschler or Combs, he didn't say who decided to sell some Apple to do e new investment

Buffett doubled its bitcoin criticism, saying that the world's largest cryptocurrency has "no unique value at all" and "attracts charlatans." He is not alone. Many business executives, including JP Morgan chief Jamie Dimon, have also expressed skepticism.

Bitcoin traded around $ 3,800 per unit dinner on Monday. It had risen from under $ 1,000 in early 2017 to around $ 19,000 by mid-December this year. But since then it has gone quite smoothly – about 80 percent from the all-time mounds.

On the political landscape, Buffett said he would support Mike Bloomberg if the 77-year-old former three-tiered New York mayor would run for president in 2020 against the Republic's established Donald Trump. "If Mike Bloomberg announced tomorrow that he was a candidate, I'd say I'm for him," Buffett said.

There are indications that billionaire businessman Bloomberg, who switched the party's affiliation independently to the Democrat in October, is thinking of running for the democratic presidential nomination. He was independent in his third regular period. He was Republican in the first two.

Buffett hopes that billionaire businessman Howard Schultz, 65, does not run for president as an independent. In January, the former Starbucks boss said he considered a third party bid.

No rating by Schultz as a potential candidate, Buffett added: "I think generally [that] third-party candidates, they should hurt one side or the other, and they are more likely to harm it since they actually favor because they is closer to that view, and then they withdraw more people who would otherwise go with the next best thing with that view. "

Buffett said he has never been a card-carrying democrat and pointed out that he is voting for democratic and GOP candidates over the years.

However, Buffett has been more aligned with Democrats than the Republicans on the question of taxing wealthy, a problem he has been talking about for years. "The rich are definitely under-taxed against the population," he said.

Sens. Elizabeth Warren, 69, and Bernie Sanders, 77 – both Democratic presidential elections hopeful – have called for higher taxes on the rich. The democratic rep. Alexandria Ocasio-Cortez, the 29-year-old freshman firebrand from New York, has also suggested that wealthy Americans pay more in taxes.

"That probably means more taxes for boys like me, and I'm fine with that," Buffett said.

WATCH: Here's the full CNBC interview with the iconic investor Warren Buffett [19659020]
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