Billionaire investor Warren Buffett says he believes Japan’s economy will recover, after the mega quake and tsunami. He says the disaster has created a “buying opportunity” for Japanese shares.
Billionaire U.S. investor Warren Buffett has given Japan’s battered stock market a boost, saying the rebuilding will take time, but it has not changed his view of the country’s prospects.
Warren Buffett, US investor said “It will take some time to rebuild. But it will not change the economic future of Japan. So if I owned Japanese stocks, I would certainly not be selling them because of the events of the last ten days or so.”
The Japanese stock market fell 10 percent last week, as authorities battled a nuclear crisis that required yen intervention to stabilize the currency.
Buffett adds the crisis creates a buying opportunity, not unlike previous situations he has seen before.
Warren Buffett said “Frequently something out of the blue like this, an extraordinary event, really creates a buying opportunity. I’ve seen that happen in the United States, I’ve seen that happen around the world, and I don’t think Japan will be an exception.”
Buffett was speaking at the launch of factory in South Korea that’s owned by one of his funds.
The billionaire investor heads to India Tuesday, to launch his firm’s insurance selling portal.