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John Authers

What Warren Buffett Meant When He Said Stocks Are Cheap

The Oracle of Omaha is definitely not telling anyone to jump into the market and buy. Also, book club news. 

He didn’t say what you thought he said.

He didn’t say what you thought he said.

Photographer: Johannes Eisele/AFP/Getty Images

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Despite this week’s big decline in stocks, investors have one great reason for optimism: Warren Buffett, the Oracle of Omaha, said they were “ridiculously cheap.” Just look at this video segment of a Monday interview with CNBC, in which the Berkshire Hathaway Inc. chairman and chief executive officer was accompanied by Vice Chairman Charlie Munger and Bill Gates. This piece by CNBC also features a summary video that begins with Buffett saying the words “ridiculously cheap.”