Market Overview

Buffett: Agnostic on Facebook

Share:
Related FB
Snap 'Ain't Your Parents' Camera Company,' Citi Sees Revenue Of $13 Billion
Jim Cramer And Bob Lang's 2013 FANG Call Was A Home Run
Why a Long or Short Position in Facebook Is a Tough Decision (GuruFocus)

Famed Investor and wealthiest American Warren Buffett is not buying into Facebook (NASDAQ: FB) anytime soon, but that does not mean he does not agree with its impressive story.

"I tend to be an agnostic on companies like Facebook," the Oracle of Omaha told Becky Quick in a live interview on CNBC's Squawk Box. "I certainly believe it is an impressive story. I just don't know whether it will be equally impressive ten years down the line," he says, pointing out that it is in the valuation of the company where he would have problems in the present.

"Take Coca Cola (NYSE: KO), for example." Buffett points to an example with a straight-cut valuation. "I know Coca Cola will be greater and more profitable ten years from now. Not a whole order of magnitude greater, but more than today," he says.

Posted-In: CNBC Long Ideas News Entrepreneurship Movers & Shakers Psychology Events Global Best of Benzinga

 

Related Articles (KO + FB)

View Comments and Join the Discussion!