It doesn't get any clearer than this.
No bonds for Buffett. Warren Buffett told @ReutersInsider late Saturday: "I don't think there is a good long-term fixed income investment"
- Jennifer Ablan (@jennablan) May 4, 2014
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.