Says he admires Ben Bernanke, but thinks the Fed chief may have overplayed his hand.
Warren Buffett
FORTUNE -- Warren Buffett has a piece of advice for Ben Bernanke: It's easier to buy than it is to sell.
Buffett, speaking on Saturday at Berkshire Hathaway's (BRKA) annual meeting in Omaha, said he is worried about what will happen when the Federal Reserve tries to wind down its recent efforts to stimulate the economy.
Via a program nicknamed QE, short for quantitative easing, the Fed in recent years has bought up over $2 Trillion in bonds in order to lower interest rates and promote borrowing and investment.
Some have warned that when the Fed decides to sell its trove of bonds, or even just stops adding to it, stock markets could tank. Rising interest rates could cause banks to lose billions, perhaps igniting another financial crisis.
Buffett says we don't know what will happen, but he is concerned.
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"QE is like watching a good movie, because I don't know how it will end," says Buffett. "Anyone who owns stocks will re-evaluate his hand when it happens and that will happen very quickly."
