Buffett’s bleak outlook

With nothing better to spend its cash on, last week Warren Buffett said Berkshire Hathaway was in the market to buy back its own stock.

Buffett’s bleak outlook

It’s common for chief executives to reckon the market is undervaluing their stock price and for the market to disagree with them. After all, CEOs tend to own lots of stock options and have an obvious bias about the value of their own shares. But Warren Buffett is no ordinary CEO.

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