4 Financial Stock Stories to Close Out the Trading Week
Berkshire Hathaway Inc. (NYSE:BRKB): Current price $117.47
On Thursday, Warren Buffett made two points. He would recommend the reappointment of Ben Bernanke as Chairman of the Federal Reserve, and said that low interest rates have inflated asset values and his hunt for additional investments at Berkshire Hathaway Inc. has become more complicated. Buffett spoke the day after the Fed surprised investors by delaying its expected taper of monetary stimulus, which has during the past five years more than tripled the Fed’s balance sheet to over $3.6 trillion.
On CNBC in a joint interview with Chief Executive Brian Moynihan of Bank of America, Buffett observed of Bernanke that, “Since the panic of five years ago, he’s done a terrific job.” When asked if he would reappoint Bernanke once his term expires, Buffett said, “That’s what I would do.”