Buffett Says 'Won't Be Selling Anything'
Sunday September 16, 6:09 pm Eastern Time
WASHINGTON (Reuters) - U.S. billionaire investor Warren Buffett said on Sunday he will not sell any of his stocks when U.S. financial markets reopen on Monday, and in fact, if the markets fall significantly he may use it as a buying opportunity.
The New York Stock Exchange is due to open after four days of closure brought about by last Tuesday's air attacks that leveled New York's World Trade Center and left the Pentagon building outside Washington, D.C., in flames.
``I won't be selling anything,'' Buffett told the CBS News program ``60 Minutes.''
``If prices would fall significantly, there's some things I might buy.''
The influential investor said the country is no different economically than a week ago and as such it would be ``crazy'' to sell stocks.
Buffett said his company, Berkshire Hathaway Inc. (NYSE:BRKa - news), which owns General Re, a reinsurer set to take a share of insurance losses arising from the destruction of the World Trade Center, is well-equipped to pay out ``more money than we've ever paid'' with respect to a catastrophe.
Jack Welch, the recently retired chairman of General Electric Co. (NYSE:GE - news), also said on CBS he would ``probably just hold'' his stocks on Monday.
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