PANews reported on May 3rd that, according to Jinshi, Warren Buffett stated in an interview with CNBC, "The current market environment is not ideal for Berkshire Hathaway's investment strategy." Buffett said that Berkshire has an excellent management team that can act opportunistically and patiently wait for suitable targets. He indicated that while Berkshire may sometimes appear inactive, it will actually act proactively at the right time. He admitted that the reluctance to invest heavily is partly due to the overall high market valuations. When asked when the right time to invest would be, Buffett said that opportunities will naturally arise "when nobody wants to answer the phone."