Warren Buffett says the tsunami, earthquake, and nuclear reactor scare in Japan wouldn’t deter him from investing in the country. In fact, he says it’s created a buying opportunity.
“Frequently, something out of the blue like this, an extraordinary event, really creates a buying opportunity,” Buffett said during a visit to a South Korean factory run by a company owned by his Berkshire Hathaway, according to Reuters. “I have seen that happen in the United States, I have seen that happen around the world. I don’t think Japan will be an exception.”
“It will take some time to rebuild, but it will not change the economic future of Japan,” he added. “If I owned Japanese stocks, I would certainly not be selling them.” According to Reuters, neither Buffett nor Berkshire’s annual report disclosed any major positions in Japan.
Buffett is also very interested in South Korea. He said he is looking to buy entire South Korean businesses or large-cap shares, Reuters reports, adding that Buffett said the geopolitical risks involving North Korea haven’t dissuaded him from investing in South Korea.