market folly

The last few weeks have been busy with our notes from the Value Investing Congress as well as notes from Alpha Hedge West Conference so today we're catching up on some notable comments made by investing legends recently.  Warren Buffett appeared on CNBC and here are his thoughts:

On stocks/the market:  "They've moved a long way.  They were very cheap 5 years ago.. ridiculously cheap.. and that's been corrected.  They're probably more fairly priced now.  We don't find bargains around, but we don't think things are way overvalued either.  We're having a hard time finding things to buy." 

On tapering: He says the decision to taper or not and by how much doesn't really affect his businesses or investments.

On QE3:  Buffett reiterated that it hasn't really been successful but he doesn't think it's been harmful either.

On the economy: He feels it's just been a gradual increase since 2009.  It's been improving but he thinks Bernanke has wanted to see a greater improvement.

On the Fed Chair:  Buffett thinks Bernanke's done a terrific job since the panic and ought to get a chance to continue on.  Asked if he has a second choice for the new Fed Chair, he said he doesn't have one.

Embedded below is the video of Warren Buffett's recent CNBC appearance if you missed it:



For more from the Oracle of Omaha, head to some new book recommendations from Warren Buffett.