Warren Buffett sees no quick fix to Europe's fiscal troubles

Billionaire Warren Buffett said Monday that Europe will have a hard time resolving its fiscal problems because of the structure of the European Union and this weekend’s election results in Greece and France.

But he says the turmoil in Europe won’t keep him from investing. Buffett said Berkshire plans to buy two U.S. stocks Monday that it already holds to add to its stakes in those companies.

“I think the worst mistake you can make in stocks is to buy or sell based on current headlines,” Buffett said. He did not identify the two stocks he planned to buy.

Buffett appeared on CNBC on Monday morning, two days after meeting with more than 30,000 people at Berkshire Hathaway Inc.’s annual meeting.

Read Full Article from Detroit Free Press

- Posted: 2012-05-07 10:52:32

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