Berkshire Hathaway's Warren Buffett said Monday that given a choice between stocks and bonds over the next 10 years, he'd put his money in equities.
"If I had a choice today for a 10-year purchase of a 10-year bond at whatever it is ... or buying the S&P 500 and holding it for 10 years, I'd buy the S&P in a second," Buffett said. "Interest rates govern everything and if there were a way to short 30-year bonds and own the S&P for 30 years I would give you enormous odds that the S&P is going to beat 30-year bonds."
Buffett, 88, sat down with CNBC's Becky Quick to discuss his annual shareholder letter and investing outlook. The investor covered many topics in his letter including Berkshire's $112 billion cash pile and how he plans to use it. He also discussed his first stock purchase, the dangers of too much debt, and what he sees as the biggest risks ahead.
The interview was conducted at Berkshire-owned Nebraska Furniture Mart.
This story is developing. Please check back for updates.
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