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CNBC Transcript: Warren Buffett's 'Stock Split' Interview - Part One
CNBC.com | January 20, 2010 | 11:08 AM EST

In a live interview on CNBC's Squawk Box this morning (Wednesday) ahead of a special Berkshire Hathaway shareholders meeting, Warren Buffett made news by strongly criticizing Kraft's planned acquisition of Cadbury.He also told us Berkshire Hathaway's proposed split of its Class B shares does not mean that he has dropped his overall dislike of stock splits and share issuances, comparing the process to "preparing for a colonoscopy." WARREN BUFFETT TO CNBC: I WOULD HAVE VOTED AGAINST KRAFT-CADBURY DEAL

This is the first part of an unofficial transcript of the entire one-hour interview conducted by Becky Quick.

BECKY QUICK: I don't know how much you heard of the Wells Fargo (earnings) numbers that we were just --

WARREN BUFFETT: I heard a little bit.

BECKY: What was your immediate takeaway, and I know all you heard is --

BUFFETT: I didn't get the earnings at all. But I got the charge-offs at 5.4 billion. That's exactly what I would have expected. I think they expect them to peak toward the end of 2010, but that number is exactly what I would expect.

BECKY: What other headlines would you like us to pull up? What else would you be interested in hearing about?

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