Reuters: Financial Services and Real Estate: Warren Buffett buying amid market dip - TV

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Warren Buffett buying amid market dip - TV May 7th 2012, 11:20 Mon May 7, 2012 7:20am EDT * Berkshire adding to holdings of 2 stocks - CNBC * Still buying despite Europe woes - Buffett * Fund manager criticizes annual meeting May 7 (Reuters) - Berkshire Hathaway Inc is adding to its shareholdings of two U.S. companies amid a market dip, Warren Buffett said on Monday. In an interview on cable television network CNBC from just outside his conglomerate Berkshire Hathaway's home base of Omaha, Nebraska, Buffett also said he was nonplussed by the dip in European shares after last weekend's election results in France and Greece. "It's going to be very, very difficult to resolve their problems," Buffett said of the euro zone countries, though he insisted they would do so eventually. He declined to say which to which two portfolio stocks Berkshire was adding, though he said Berkshire bought on Friday and would buy more today. Over the weekend, Berkshire held its annual shareholder meeting in Omaha, a festival-like event that draws nearly 40,000 people for an hours-long question-and-answer session with Buffett and Berkshire Vice Chairman Charlie Munger. It was during that session that Buffett revealed he had very nearly made an acquisition of more than $22 billion recently, which would have been one of his biggest ever. The 81-year-old Buffett, recently stricken with early stage prostate cancer, also spent much of the day reassuring shareholders he was in good health. While Buffett has his acolytes, not everyone was impressed with the performance. Australian hedge fund manager John Hempton, in a post on his blog on Saturday, said the day was full of the usual questions on politics, economics and the like. "I got all this -- and for the most part I got the usual homily answers. (The same questions were asked last year and the year before and the year before that. Answers can be got from meeting notes)," Hempton wrote. During the CNBC interview, Buffett also reiterated his support for Wal-Mart Stores Inc, saying a scandal over bribe payments in Mexico did not change his opinion of the stock, of which he is the fifth-largest holder. Link this Share this Digg this Email Reprints

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