Billionaire Warren Buffett's Berkshire Hathaway shareholders' meeting this weekend's exempt from a lot of investment and life advice.
Quote of the wisdom of Buffett and his investment partner Munger (Charlie Munger) is part of what attracted more than 30,000 annual meeting.
Here is an example of his own views:
Investment success:
Buffett and Munger told shareholders that successful investors must learn the business, they buy everything it can to adhere to the industry, they know, but the right temperament is also very important.
"You only need to avoid getting excited when other people are excited," Buffett said.
Admittedly, it is difficult to continue to make rational investment decisions, the stock market soared, but it has been proved to be profitable Berkshire Hathaway.
"We have been trying to maintain your sanity when other people like to go crazy," Munger said. "This is a competitive advantage."
___
The size of disadvantages:
Berkshire Hathaway company's size and it's worth $ 4.9 billion cash pile to allow Buffett to do bigger deals than ever before, like the recent $ 23.3 billion in transaction agreements, buy Heinz half.
Buffett reminded shareholders that size also has its drawbacks. He said it would continue to become more difficult to meet or exceed the Berkshire past returns.
Munger said he was confident Enterprise Group continued to perform well in the long term.
, "Munger said:" Of course, our annual income will slow down a little, but it is still very pleasant.
___
(PASSION)
Buffett said his Berkshire Hathaway investment and running, because he is passionate when he was young.
"You have to love something to do," he said to a question, he lost some 82-year-old strength.
Buffett said Berkshire acquisition and thinking hunting is what he likes.
"Is there anything I Berkshire more fun than looking for something new to add to," he said.
___
FED Fortunes
The positive Fed bond-buying program has helped to stimulate the economy, but it may be difficult to uninstall the Fed safety USD $ 3.4 trillion portfolio, Buffett said.
"This is a very easy to buy something than it is to sell them," Buffett said.
The Fed has bought $ 8.5 billion worth of one-month U.S. Treasury bonds and mortgage bonds, to try to keep the long-term decline in borrowing rates and get the economy.
Buffett said, it is difficult to predict what will happen when the Fed began to unload the bonds, but it may be "inflation".
, "Buffett said:" We really are in uncharted territory.
___
Berkshire Hathaway, the company's future:
Buffett said he does not want his successor to make any material changes in the company of Berkshire Hathaway, the 82-year-old investor is gone.
Buffett's Berkshire Enterprise Group, he built facing several problems.
Berkshire's next CEO may make some changes, the number of more than 80 subsidiaries report directly to him, but he expects the company will remain highly fragmented.
Buffett said he doubted it would make sense to split into several different Berkshire.
Broken down into several companies, as far as I'm concerned, it will produce poor results, "Buffett said.
Berkshire's next CEO will not have the reputation and connection of the Oracle of Omaha, the company will continue to have a large amount of cash investment.
"In time of distress, few people have capital, and even fewer are willing to commit," Buffett said.
As usual, Munger straight cut heart problems.
, "He said:" I would like to say to the audience a lot Mungers, do not be so stupid to sell these shares.
"Buffett said," Buffett family too.
 
 



Other News:
Warren Buffett offers advice on investing and life
DreamWorks buying AwesomenessTV for about $33M
Facebook CEO reaped $2.3B gain on stock options
Supremacist gets 26 to life in killing of molester
Asian shares fall on fears for health of world economy
Turkey becomes partner of China, Russia-led security bloc
American man Houston airport shot and died on the spot confrontation with the ag
US keeps Cuba on state sponsors of terrorism list