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Earnings Are Key to Valuing Banks: Buffett

Monday, 4 Mar 2013 | 7:18 AM ET

"Book value is not key to valuing banks," said Warren Buffett, Berkshire Hathaway chairman & CEO, answering a viewer's question about what to focus on when investing in banks. Buffett also reveals why he is giving investment managers Todd Coombs and Ted Weschler, another $billion each to invest.