When the Master speaks, we all listen. Here is what he said on CNBC “squawk on the street” Aug 22. Note I don’t pay attention to CNBC and “Squawk on the Street”, unless it’s someone like Buffett or Gross (Pimco) speaking. Here are the transcripts at CNBC. I read it from trader1688 first. Some interesting quotes:
What Chinese company got Buffett interested?
6:22 AM: Buffett reveals that Berkshire made a half-billion dollar bid on a Chinese stock that wasn’t accepted. He wouldn’t say what stock or what industry. He did say that under the right circumstances he could have a lot of money in China, but noted that there are government restrictions on foreign ownership that must be overcome.
Buffett left some money on the table
7:05 AM: Buffett confirms that he sold 60 percent of his Anheuser-Busch [BUD 67.79 0.03 (+0.04%) ] shares at prices around $61-$62 before the company agreed to a friendly merger with InBev at a sweetened price of $70. Buffett says at the time he wasn’t sure the deal would go through given Anheuser’s strong resistance to InBev’s original bid. “In retrospect, I was wrong,” but he says that often happens.