Warren Buffett Talks IBM And His Ongoing Investment Loss

Warren Buffett is confident in his investment in International Business Machines Corp. (NYSE: IBM), even though it is currently losing money.

Speaking to CNBC early Monday morning, Buffett acknowledged his average cost basis for IBM's stock is a slightly below $170 per share, implying an ongoing loss of approximately $25 per share.

IBM's stock closed at $145.95 on Friday. Shares have actually gained 6 percent since the start of 2016, but are nevertheless lower by more than 15 percent over the past year.

Related Link: Buffett Says Bezos Has Shown "Amazing Talent In Figuring Out How To Please Customers"

Over a 5-year period, IBM's stock has lost around 14 percent.

Buffett continued that he has never sold a share of IBM. In fact, his firm periodically acquires additional shares of "Big Blue."

"We haven't been an aggressive buyer," Buffett further emphasized. "But we have been a buyer. It's a company that has lots of tough competitors... and it will always have competitors. We see them doing some interesting things."

"Overall, we like it and I think we can safely say we would be much more likely to buy more in the next 12 to 24 months than we would be to sell shares," he concluded.