Buffett appeared on the business cable channel
Buffett said the reports he gets from Berkshire's 80-odd subsidiaries in a variety of industries show that the economy is growing at a moderate rate, despite swings in investors' mood.
"The American economy for five years has been moving at a fairly steady rate upwards —not as fast as people would like — but I think that absolutely continues now," he said.
But Buffett said he doesn't make investment decisions based on the economy or world events, and Berkshire continued buying an unnamed stock in the
The Russian military advance into part of
"People react too much to short-term things in the stock market whereas they behave quite rationally when they get into other investments," he said.
Buffett addressed a variety of topics in the three-hour long television interview.
Buffett said it's clear that railroad tank cars carrying crude oil need to be updated because oil from certain regions is more dangerous than originally thought.
"There will be changes made and there should be changes made," Buffett said. "We have found in the last year that it's more dangerous to move certain types of crude certainly than was thought previously."
Buffett said the crude oil from the Bakken oil field in
That volatility may have contributed to several fiery derailments in the past year, including one in
Buffett reiterated Monday that he thinks it's a good idea to build the proposed Keystone XL pipeline
He said he doesn't expect that pipeline to reduce the amount of oil railroads are hauling significantly.
Berkshire's insurance and reinsurance companies often have to pay significant claims when natural disasters strike. But Buffett said the rate of disasters that Berkshire's insurance and reinsurance companies see hasn't changed because of extreme weather or climate change.
"I calculate the probabilities of catastrophes no different than a few years ago," he said.
Strong insurance results helped Berkshire earn
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