Warren Buffett is warning investors to be careful about which social networks they friend with their investment dollars.
Buffett, the chief executive of the Berkshire Hathaway investment empire, warned investors Friday at a conference in New Dehli to be wary of social networks such as Facebook and Twitter–a sector that has recently generated great interest and anticipation on Wall Street.
“Most of them will be overpriced," Buffett said, according to a Bloomberg report. "It's extremely difficult to value social- networking-site companies.”
“Some will be huge winners, which will make up for the rest,” he said, without specifying which companies he expects to be winners and which will be losers.
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