Appearing today on CNBC’s Squawk Box, Warren Buffett said the global economy is slowing but that the U.S. is doing better than Europe, and said he’s on the hunt for a big acquisition. Buffett says the U.S. economy is still inching ahead and “is not tanking”. He said he thinks there’s a “pretty fair chance” the U.S. goes off the fiscal cliff for a short period, but says policymakers know what needs to be done to resolve the situation. Buffett also talked about his own role within Berkshire Hathaway, saying that he manages four positions — Wells Fargo, IBM, Coca-Cola, and American Express — that account for about $50 billion. Other smaller positions are mostly handled by other managers at the firm. He said he’s been buying some Wells Fargo shares recently, but thinks the bank won’t be as profitable as it was before the financial crisis.
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