Warren Buffett, the billionaire chairman of Berkshire Hathaway, said low interest rates and inflation should dissuade investors from buying bonds and other holdings tied to currencies.

"They are among the most dangerous of assets," Buffett said in an adaptation of his annual letter to shareholders that appeared on Thursday on Fortune's website. "Over the past century these instruments have destroyed the purchasing power of investors in many countries, even as these holders continued to receive timely payments of interest and principal."

Buffett, 81, who built Berkshire from a failing textile maker, echoes Laurence D Fink, chief executive officer of BlackRock Inc. Fink said this week that investors should be 100% in equities, because of depressed stock valuations and the Federal Reserve's pledge to keep interest rates low.