Warren Buffett’s busy protecting his $5bn investment in Bank of America.
Buffett was interviewed by Bloomberg TV’s Betty Liu last week, and talked on a number of subjects.
Specifically on Bank of America, he said:
‘The bank has a wonderful underlying business, (but) it’s got lots of problems’.
‘The bet is, is (CEO) Brian (Moynihan) going to get rid of those problems ? It won’t take six months or a year; it will take much longer than that even. But the underlying business is doing fine’.
And on Moynihan himself:
‘I don’t want him to step down. Brian, stay at work’.