Russo highlights US debt risks and Buffett's Oxy bet, while Buffett declines full control of Occidental Petroleum.

Fund manager Tom Russo has expressed concern about the long-term consequences of the US government's aggressive borrowing and warned that stocks could be affected by higher interest rates. He praised Warren Buffett's investment in Occidental Petroleum as a hedge against rising oil prices. Russo also cautioned Buffett to keep an eye on technological threats, citing Wayfair's disruption of Berkshire-owned Nebraska Furniture Mart as an example.