|JOSH FUNK, AP Business Writer|
But he says the turmoil in
"I think the worst mistake you can make in stocks is to buy or sell based on current headlines," Buffett said. He did not identify the two stocks he planned to buy.
Buffett appeared on
Berkshire's chairman and CEO said
Buffett said part of the challenge is that the
He said he wouldn't hesitate to buy a European business if he found an attractive one to add to Berkshire's portfolio of more than 80 companies, including the
Buffett said American banks are in much better financial shape than European counterparts because of measures taken during the financial crisis. He said
"We have a whole different banking system in
But Buffett said he avoids buying into businesses like
Buffett said he doesn't really have an opinion on
"I'm an agnostic on a company like
Over the weekend, Buffett also told
He says investors should be looking for good businesses to buy and trying to determine how those companies will fare in 10 years.
Buffett addressed a number of other topics during Monday's interview:
_ Buffett was asked about the inaccuracies in
_ The reports Buffett sees from Berkshire's businesses show there has been some small improvement in housing construction this year. He says he's not sure how strong the housing trend is, but the overall economy is improving. "Our businesses are getting better, but they're getting better at a slow pace."
_ Buffett said the U.S. government probably needs to rein in spending and increase tax revenue, but neither political party is ready to do that in an election year. "The problem is in this political environment is no one wants to go first," he said.
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