Buffett on the Fed.

Nothing Earth shattering, but this morning Warren Buffett was on CNBC with Becky Quick. She asked about today's Federal Reserve decision and Buffett essentially told her:

We have never bought or sold a stock based on what we thought the Federal Reserve was going to do. We bought Washington Post and it has returned 100 for 1, and I don't think it has anything to do with what the Fed. was doing the day we bought it.

He went on to say that while the Fed. has some impact on currency exchange rates, they are primarily driven by the current account deficit.

While this is stuff I have heard Buffett say a dozen times, it was good to take a minute and recenter myself. It has been a crazy year for investing (they all are) and it has been easy to get caught up in the crisis of the moment, of course one of the reasons that Buffett is a better investor than any of us is that it isn't easy for him to get caught up in the craziness of the moment.

Timothy Burger
timothyb(at)timothyburger.com