Warren Buffett says buying IBM shares could be a mistake: CNBC

[February 29, 2016]  NEW YORK (Reuters) - Warren Buffett, the chairman and chief executive of Berkshire Hathaway Inc., told CNBC on Monday that buying IBM shares could prove a mistake and that he was buying more U.S. stocks overall since the end of last year.

Berkshire said in its annual shareholder letter on Saturday that it plans to keep its stake in IBM despite a $2.6 billion paper loss as of Dec. 31.

Buffett, who told the cable television network that he did not think he was wrong for owning IBM shares so far, said it "could be" a mistake.

He said, however, that, in general, stocks would go up over time.

"We have bought more stocks since the end of the year," Buffett said.

(Reporting by Sam Forgione Editing by W Simon)

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