Warren Buffett spoke earlier this week at the Economic Club of Washington D.C.  In a discussion with David Rubenstein, co-CEO of Carlyle Group he discussed a broad range of things including how he got into the investment business, his rejection from Harvard University, his relationship with Ben Graham and the story behind the early Berkshire Hathaway.

Buffett also discussed the current economic environment saying that the odds of a recession in the USA are “very low…unless events in Europe develop in some way that spills over here big-time.” He also added some thoughts on Europe saying that Europe needs to make a move in one way or another:

“They’re in on a common currency but they’re not in on a common fiscal policy or a common culture or common labor practices…They have to reconcile some of these things.”

See the full interview below:

Source: Bloomberg TV


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Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC. Orcam is a financial services firm offering research, private advisory, institutional consulting and educational services.

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  • Lucky Foot

    For heaven’s sake…the gentleman needs to distance himself from self-made adulation and publicity. His public persona and gluttony of crony and self-serving advice isn’t benefiting Americans at all. Not at all!

  • Mozaic

    Brilliant at PR, was a sad day when I found out that he is ‘just’ another Wall Street insider. Made a killing out of the baiouts and inside information over the decades.

  • Sam Latenhouse

    Envy is the only sin that gives no pleasure. The 2 posters previous here are miserable.

  • Lucky Foot

    My criticism does not emanate from the heart, but from the mind; there is no jealousy nor sin in the comment of this man whom I admire and whom I see much the way he does. Lately, it is to me just as I’ve expressed above.

  • Mozaic

    Pretty much just a description of what the guy does. It would be pretty impressive if his actual persona was anything like his PR image, but its not.

    I guess he is just making money the best way that can be done at present. I don’t particularly resent him for it, but don’t admire him either.

    Its a system thing, all the players are corrupted.

  • Johnny Evers

    Agreed. Buffett’s record indicates that he’s using his stature to make money for himself. I’ve always thought he had two defining characteristics — a knack for investing and greed. Lately, I’d add a third: he has this weird desire to be celebrated.

  • Malmo

    “Odds of a recession in U.S. are very low”

    Confirmation bias. Nothing more. lol.

  • Lance

    In a way, Buffet is merely talking his book. A recession certainly doesn’t help his businesses, and if public opinion tips far enough toward “a recession’s coming”, horns get pulled in, and presto, you’ve got one. “Odds … very low” is either talking your book, cheerleading, or blowing it out your ass.

  • Alberto

    The forecasting capabilities of Mr. Buffet were so poor in the recent years that is surprising that people still listen to him. But of course people prefer hope instead of reality. But who did better ? People listening to Gary Shilling (buy long treasuries 10y ago) or listening to Mr. Buffet (buy equities, they are cheap). Everyone makes his own destiny at least in finance.

  • Anonymous

    Why would Buffet want to lie to everyone….?

  • Lucky Fart

    By his own admission, he is the lucky winner of a giant coin flipping competition.