Warren Buffett's three hours on CNBC

Warren Buffett was live for all three hours of "Squawk Box" this morning. You can watch the entire interview here.

Here are the highlights:

• "I was wrong in a couple of ways about Kraft Heinz," including paying too much, but he has no plans to sell.
  

• Buffett said he was close to a "very large" acquisition last fall before the deal fell apart. Pressed for details, he said, "I'll give you a hint. It's on this planet."
  
  
• Buffett won't be buying more Apple shares at their current price, but "if it were cheaper, we'd be buying it."
  
  
• Buffett revealed that since they joined the company, portfolio managers Ted Weschler and Todd Combs have underperformed the S&P 500 by a "tiny bit." But "they've done better than I have."
  
  
• Buffett said it would be a "real mistake" if former Starbucks CEO Howard Schultz ran for president as an independent because it would take votes away from the Democratic nominee. But Buffett said if former New York City Mayor Mike Bloomberg announced his candidacy as a Democrat, "I would say I'm for him."
  

• Buffett hasn't changed his mind on cryptocurrencies like bitcoin, saying it has "no unique value at all" and is a "delusion" for buyers.
  
  
• Buffett still favors stocks over bonds for the next 10 years
  

• Buffett also repeated his long-held belief that the "wealthy are definitely undertaxed relative to the general population," and thinks the earned income tax credit is the best way to address the imbalance, even if it means "more taxes for guys like me."
   
• After the live interview, Buffett confirmed to Becky Quick that Berkshire is selling its 80 percent of workers company company Applied Underwriters, subject to government approvals.

QUESTIONS OR COMMENTS

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