Buffett on Tax Cuts, China and Women in Business

In a recent interview with Yahoo Finance, Berkshire Hathaway CEO Warren Buffett fielded questions on a variety of subjects. Here are some highlights:

  • Tax cuts: “I don’t agree with the philosophy,” Buffett said, “but it helps Berkshire shareholders.” In economics, he added, “you can never just do one thing. You always have to ask yourself, and then what?”
  • Buying cryptocurrency, argues Buffett, is more speculation than investing. When investing, he explained, you’re looking to the asset to deliver a return, while in bitcoin “you’re just hoping the next guy will pay more.”
  • China has found the “secret sauce,” according to Buffett, adding that it is destined for a “fine economic future.”
  • The #metoo movement and women in business: “I have seen half of the talent in the U.S. put off to the side,” Buffett said. Tapping into that talent, he asserted, “is one of the things that makes me optimistic about this country.”

In investing, Buffett said, the best way to differentiate between reasonable and unreasonable fear is to “just keep looking at the facts, at the business.” 

When asked what he would like to be remembered for, Buffett answered, “A teacher. That would be really flattering.”