Warren Buffett.
REUTERS/Mario Anzuoni
Warren Buffett is discussing his massive bet on five Japanese companies in a rare TV interview.
The Berkshire Hathaway CEO confirmed he’s raising his stakes in the quintet to 7.4%.
We’re live-blogging the interview, scroll down to follow along with our coverage.
Warren Buffett is discussing his multibillion-dollar bets on five of Japan’s biggest trading houses in a CNBC interview today. We’re live-blogging the conversation.
The famed investor and Berkshire Hathaway CEO confirmed that he’s raised his stakes in Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo to 7.4%. Berkshire originally disclosed roughly 5% positions in the five companies in August 2020, and bolstered them last November.
Buffett described their valuation as “ridiculous” relative to current interest rates, and highlighted the quintet’s solid cash flows and sizeable dividend payments.
6:13 a.m.: “Iscar will never stop, Berkshire will be proud of it in 2050,” Buffett says, referring to the Israeli metal cutting tools company owned by Berkshire.