Warren Buffett is the second wealthiest person in the United States. Capitalization of his company Berkshire Hathaway is more than $ 512 billion.
In 2014, Buffett became the largest philanthropist in history, donating $ 37 billion..
Each year, a billionaire gathers stockholders of his company to chat. And this is what he said at the last meeting. Warren Buffett’s quotes greedily snapped up by all those interested in business, investment and finance.
1. Short-term forecasts
No one is buying a farm based on whether it will be rainy next year. They buy because they believe that this is a good investment for 10 or 20 years. So the relevant question is when are you planning to buy part of the business – and this is what you do when buying shares – where will it be in 10 or 20 years. It’s possible that you don’t know, in this case you shouldn’t do anything.
2. Robotization and AI
I don’t think it impresses me when the robot wins the Japanese board game “go” or something like that, or even wins chess, or whatever it is. I don’t think that they really change anything in the field of capital allocation or investment. Maybe I’m missing something, you know, maybe I’m just blind to what’s happening …
3. Business education
What we do is not a complicated matter. This is a matter of discipline. But it does not require ultra-high IQ or the like. There are several basics that are extremely important, and you need to understand accounting. It helps to go out and talk with consumers and think in many ways, as a consumer, and all that, but some serious training is not required.
I think if you meet some good teachers who really change your view of the world, then you are in luck. And you can meet them both at the university and in everyday life.
4. Autopilot and insurance
Will auto insurance go away with autopilot cars? “I think it will take time.” If cars are safer, then insurance should be cheaper. Safe driving reduces the price of insurance. How quickly this will happen, I don’t know, but over time, if unmanned vehicles are successful, if people do not hack them, it will reduce car insurance premiums. Perhaps radically reduce.
Cryptocurrencies will come to a bad end. Not only is nothing actually produced there in terms of asset value, there is the problem that it attracts a lot of charlatans who are trying to create different types of exchanges and the like. This is an opportunity for people who are morally unclean to rob those who just want to get rich and become richer than their neighbor by buying this thing, but not understanding what it is. It will end badly.
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