Buffett Says Auto Dealerships Are Valuable Whatever Yellen Does

Berkshire Hathaway Inc. Chairman Warren Buffett said the company will buy more auto dealerships, regardless of the interest-rate outlook, in part because the price of entry is reasonably predictable.

If Federal Reserve Chairman “Janet Yellen came up and whispered into my ear what she was going to do for the next two years, it wouldn’t make a difference what we’d do,” he said Tuesday in New York at the 2015 Automotive Forum held by J.D. Power and the National Automobile Dealers Association. “We don’t want to get out of the game based on what we think somebody might do.”