Warren Buffett answers questions from viewers on CNBC. He talks about his investment philosophy and recent stock picking performance. He bought ConocoPhillips at the top. And he made poor investments in Irish banks. About Wells Fargo, he says “the spreads are enormous.” And he still likes US Bancorp and defends his S&P 500 derivatives bet.
By the way, he reluctantly backs a bailout of GM and at the end of the videos seems to suggest he sees a market economy as inherently unstable a la Hyman Minsky. Very interesting stuff.
See the videos below.
Update 10:15 AM: Two more videos from CNBC below.