Buffett offers wit and wisdom on variety of topics

Published on NewsOK Modified: March 3, 2014 at 12:42 pm •  Published: March 3, 2014

Investor Warren Buffett discussed topics ranging from the state of the U.S. economy to rail car safety, the proposed Keystone gas pipeline and extreme weather swings during a three-hour appearance on CNBC. Here are a few other topics he addressed:

— The chairman and CEO of Berkshire Hathaway Inc. said it's very unlikely regulators will consider his conglomerate "too big to fail" because of its financial strength and because its relatively small portfolio of derivative contracts is winding down. He said regulators haven't contacted Berkshire.

— Berkshire Hathaway is a major shareholder in Coca-Cola Co. and Buffett says he drinks five Cokes a day. Buffett said Coca-Cola has wonderful brands that account for roughly 3 percent of all liquids consumed globally.

"It's under a lot more pressure than it was 10 or 15 years ago, particularly in the United States," Buffett said. "But their sales went up last year just as they've gone up nearly every year."

—Buffett said increasing the minimum wage is likely to reduce the number of jobs somewhat. He said expanding the earned income tax credit would be a more effective way to reduce income inequality.

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