Financial wizard Warren Buffett of Omaha says he won’t be selling today, and may buy if there are some bargain stocks. Buffett was a guest last night on C-B-S T-V’s “60 Minutes”. He says if you owned a piece of a business you’re confident in, then he says you wouldn’t gain anything by selling it.Buffett says the economy will recover, despite some impact on third quarter earnings.Some economists worry business deals will be put on hold. For example, Buffett has an offer out on a company that was to be finalized today.Buffett has no intention of backing away from the deal.Buffett says the government will have to be careful about “mass subsidization” of the ailing airline industry. Buffett’s Berkshire Hathaway is in re-insurance, too, and he says the company will be paying out “a great deal of money” but he says Berkshire Hathaway is well equipped to handle the losses.
