Billionaire Warren Buffett recommends that investors stick with simple stock index funds – not bonds and especially not bitcoins.
Buffett discussed a variety of topics during an interview on CNBC on Monday after he spent Saturday answering questions before thousands of Berkshire Hathaway shareholders.
Warren Buffett, chairman and CEO of Berkshire Hathaway, left, talks as he plays bridge with Bill Gates, right, outside Berkshire-owned Borsheims jewelry store in Omaha, Neb., Sunday, May 6, 2018. On Saturday, tens of thousands of Berkshire Hathaway shareholders attended the annual Berkshire Hathaway shareholders meeting. (AP Photo/Nati Harnik)The chairman and CEO of Berkshire Hathaway said he doesn’t think the stock market is overpriced compared with other options even though he’s had trouble finding entire businesses to buy at reasonable prices.
“It wouldn’t take me a nanosecond to decide to go into stocks,” he said.
Buffett said cryptocurrencies such as bitcoin are nonproductive assets similar to gold. So Buffett said anyone buying bitcoin is betting that someone else will pay more for it later.