Buffett 2013: Bond holders to "get crushed"; stay in stocks -Winters
Saturday, May 04, 2013 - 04:19
May 3 - Wintergreen Advisors' David Winters says there's more upside for stocks & thinks bond holders will ''get crushed'' when interest rates rise. Abroad, he likes conglomerates Orkla and Jardine Matheson.
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I've been working on. The ball. Today it will create art of war Warren -- big day at the Berkshire Hathaway and -- fair value investors got. Here in Omaha Nebraska and I found one that David Weathers. It would be great to see well the story at the meeting is here it the F presence of the -- got -- that yet I said well. That reason -- in the media. So is -- you name that he could bring or you hear that would make. It on birds and. Probably not but I think the presence -- and the fact that he's gonna bring up the opposing case is very healthy and I think it's very mature the company. Be willing to have him here. And courageous. Warren -- also -- -- making them courageous and anew and act with -- There's a big acquisition out there or at what. By at this point you know I think I was getting around this needs cosmetics and you know not personally but you know I mean think about it so much of the orientation companies the consumer. In -- cosmetics are things that people use around the world every day. Any -- You know the the biggest one is -- out but I don't think it's -- Like right now what you're looking at which -- -- tonight -- that we're now looking at record highs this stock market leading or coming up with a big crash. And I think there's still a lot of upside you know we like Berkshire was in the came out with earnings tonight that are great. We think there's a lot to do internationally. Like companies like in Norway called workflow veteran structure. And in the Far East we like Jardine Matheson so we think there's lots of money to be me. What's the biggest risk for somebody like you right now when you approached the marketing your -- holding. What I worry about is some catastrophic in -- And that effects everyone. Most of our companies are very little money generate free cash flow. And are great businesses are out -- at advocates that they borrowing money in this apartment where it rates probably. And you can borrow long. And you know lock up money for many years. Probably since you're right anything you don't like. You know we don't like businesses that don't have pricing power is what we're very worried about is inflation. All this printing of money I don't know but about for you but my food bills come out. And so we want companies that can increase their prices. And pass it on with -- impunity. So we don't want companies. Can't -- surprised are you worried about what's gonna happen when -- Inflation looks to be more serious -- -- -- -- in terms of pop art and different is that what was. Things out for years yours and I think the big risk and get your. You're right on earth is there right on the nose. The fact is that interest rates have been so little for so long at some point rates are going out. And most people are in the bond market and they don't think there's any -- And it's our -- the people in Iraq so what you're doing that likely like you know businesses that are growing that are undervalued. And especially have a footprint internationally. Is you've got four billion people. Who want what we target. You know we we. I feel like -- McCain's story. With a hundred dollar bill in my pocket I haven't. Millions. Market and -- made last year. -- think this smartest move was just to keep buying and and to keep up creating what we own and not to get. Scared out at all. David what is the biggest value investment for what -- the best way to make this year. Well that's -- it's a fabulous question I think the thing is you've got to the end and I think that you know you're just. Either you index and you via global. Index. I think you want to own companies that especially -- he should focus. It -- to -- what a wonderful thing about. I'm Rhonda -- that this writers.
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