It doesn't get any clearer than this.
Obviously Warren, like many others, expects interest rates to rise significanly over the long-term, which means any fixed income investment is going to get smoked, as the amount you get paid for holding them is worth less and less.
Read more: http://www.businessinsider.com/warren-buffett-bearish-on-bonds-2014-5#ixzz30l44UWSz

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