Warren Buffett: 'I'm An Enormous Admirer' of Dan Gilbert

Warren Buffett

News surfaced the other day that Berkshire Hathaway Inc.'s Warren Buffett was backing Dan Gilbert and others in a bid to buy Yahoo!

Both are buddies.

Crain's Detroit Business reports on Monday on CNBC Buffett clarified his role:

"I'm an enormous admirer of Dan and what he has accomplished in Quicken Loans. Yahoo is not the type of thing I'd ever be an equity partner in. I don't know the business and wouldn't know how to evaluate it, but if Dan needed financing, with proper terms and protections, we would be a possible financing help."