Billionaire investor Warren Buffett told CNBC this morning that another market meltdown similar to the 2008 plunge will happen again "someday," but "it won't happen for awhile."
Asked if the stock market could suffer another 50% plunge in the near term, Buffett told the cable TV business channel: "That would surprise me a lot."
Buffett said investors will one day see Dow 100,000.
But despite some bearish calls on Wall Street recently, Buffett said investors are unlikely to make the same mistakes they made prior to the 2008 financial crisis.
"Humans will behave in crazy ways, both on the upside and the downside in the next 50 years," Buffett said. "It's very unlikely they do it in the next few years because after something like 2008, once they get out of the emergency room, they're a little more careful for awhile."
Is He Always Right?