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CNBC Transcript Part 8: Warren Buffett On Buybacks and His Greatest Worry
CNBC.com | February 27, 2012 | 05:04 PM EST

Berkshire Hathaway [ BRK.A 209000.00  +891.00 (+0.43%) ] CEO Warren Buffett appeared live on CNBC's Squawk Box this morning, February 27, 2012, for his annual "Ask Warren" three-hour marathon.

This is part eight of a transcript of his comments.

( Click here for part seven )

BECKY: We are back with Warren Buffett this morning. We've got a last few minutes of questions before we are finished up here. And, Warren, Jim Cramer was just making some comments about your view on stock buybacks, especially regarding IBM. You now own about 5 1/2 percent of the stock of the shares outstanding for that company and in your annual letter you laid out your cause for why you would be happy to see them buying back stock and you're not necessarily looking for that stock to go up over the last few years. That's a little controversial. You want to lay it out?

BUFFETT: Well, I don't know whether it's going to go up or not.

BECKY: Yeah.

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