Buffett bargain hunts with bombed out shares 'on sale'

Warren Buffett has revealed he has exploited recent sell-offs to buy up cheap stocks.

The Berkshire Hathaway chairman said that during last Monday - at the height of recent volatility in the stockmarkets - his investment firm spent more money buying up stocks than on any other day so far this year.

"I like buying on sale," the 80-year-old billionaire said in a television interview with broadcaster Charlie Rose on PBS, according to the Daily Mail.

Buffett, the world's third richest man, also dived into stock markets during the depths of the banking crisis in October 2008 with own personal fortune and bought into Goldman Sachs via his investment company Berkshire Hathaway.

The $5bn investment into Goldman returned his stake earlier this year in addition to a one-off dividend of $1.64bn and annual interest payments of $500m.

In the PBS interview, Buffett also said he thought banks are in "good shape" and  "corporate America is doing fine now", except for industries exposed to the deflating property bubble.