Warren Buffett says he won't donate to Obama super PACs

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Despite his public backing of President Obama, billionaire investor Warren Buffett won't be donating money to any of the outside groups supporting the president's bid for re-election.

"I don't want to see democracy go in that direction," the Berkshire Hathaway chairman and chief executive officer said over the weekend at his company's annual shareholders meeting, according to Bloomberg News. "You have to take a stand some place."