May 4, 2008 8:03PM

Final Thoughts From Warren Buffett

By Liz Claman

Warren Buffett just finished up the media conference where he fielded dozens of questions from the International Press Corps. Every major newspaper from the U.K., China, Brazil, Canada, Japan, Taiwan, Korea and of course the US were represented.

He made some big news on a variety of subjects, namely:

–Buffett telling Fox Business that even though the valuations of the top 30 Financials have come down, their stocks ar still unattractive to him because he can’t tell what other losses are still lurking.

–he also told Fox Business that he doesn’t believe there’s another Bear Stearns-type meltdown lurking within the financial sector…simply because the Fed won’t let it happen. He told us the Fed did the right thing.

–many of the present problems in Financials are richly deserved…the arsonists have been caught in the fire they set.

–it’s conceivable BRK would buy more Korean stocks

–the Canadian dollar in the next 10 years would be more likely to be stonger against the dollar

–BRK is the first company European co’s should look to if they want to sell their businesses.

–he will travel to four European countries over four days this month, looking for fertile companies to buy.

–The Chinese economy is one of the economic wonders of our time

–BRK would love to buy a big Japanese company, but at the right price

–regarding NAFTA and free trade, he said the more free trade the better. You don’t want to penalize or reward any one country.

–if I had $1 million dollars with which to invest, it would be easier to go through a manual of korean stocks than through a manual of banks.

Gang, we will have MUCH more on Fox Business tomorrow at 9:30am ET when I sit down LIVE with the man himself, Warren Buffett of Berkshire Hathaway.

See you then!
–Liz