Warren Buffett spoke generally about China, negative interest rates and his recent purchase of companies in his latest interview.
“I have been surprised about most things about the economy over the last 10 years” said Warren Buffett.
“We have never seen before negative interest rates, something different is happening and that is why economic predictions don’t enter in our decision,” added Warren Buffett.
“I have been surprised about most things about the economy over the last 10 years”
Warren Buffett spoke generally about economic predictions
“In 54 years we have never made a decision based on an economic prediction” said Warren Buffett.
“We look at what individual business will do over time and we compare that to what we have to pay for” he said
Warren Buffett spoke generally about the dismal forecast, which he said was “entertainment”
“You don’t get rich by economic analysis, look at the Forbes list, the number of people who have done that by economic analysis is just about zero,” he said.
Warren Buffett spoke generally about too many variables
“There are so many variables and the truth is you have got to expect good times and bad times in business. If you were going to buy and an auto dealership you would try to time purchase you’d try to purchase at the right price” he said.
“In 54 years we have never made a decision based on an economic prediction”
Warren Buffett spoke generally about holding cash
If I were retired with a portfolio paying 30K USD I wouldn’t worry having too much cash on deposit.
On the US presidential election and the Bloomberg candidacy, Warren Buffett spoke generally
“It is hard to win with just a billionaire vote” he said laughingly.
“I want a president who wakes up every morning and realizes that a country that has everything going for it, the greatest threat is weapons of mass destruction,” he said.
Warren Buffett spoke generally saying he wants a leader who can keep the goose laying golden eggs and equally can take care of the people that the market system leaves behind. Warren Buffett noted that market-related skills, in an increasingly specialized economy, will leave many behind. “You want those people to have a decent life, min wage one way to ensure they have enough money in their pocket and gov. can provide that at relatively low cost” he said.
“The best investment you can make is in yourself. Nobody can take it away from you” – Warren Buffett
Warren Buffett spoke generally about learning from mistakes
“I would rather learn from other people’s mistakes” he said.
“We did pay too much for Kraft, we didn’t pay too much for Heinz” added Warren Buffett.
“We have a new retail environment” and he said, “retailers have been moving in the direction of brands, particularly because of the Amazon revolution”.
Warren Buffett spoke generally about lost opportunities
There is a lot of games I missed referring to Amazon and Microsoft.
Warren Buffett spoke generally about being heavily weighted towards financials, banks
“I like the price at which they are selling, I think ten years from now they will be worth more money” he said.
At the concluding part of the interview, Warren Buffett spoke generally about US-China spat. “We don’t want an island of prosperity with the rest of the world envious of us in the nuclear age,” he added, “you can be competitors without being enemies”.
“The best investment you can make is in yourself. Nobody can take it away from you” said Warren Buffett. His favorite book is Intelligent Investor by Benjamin Graham.
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