Buffett Says He Had Underestimated Jeff Bezos
Buffett: Whats Jeff Bezos has done is a miracle. I had underestimated him.
Don’t think of businesses as technology or not. I am more interested in whether businesses are understandable to us, have durable competitive advantages or not and whether price is favourable.Warren Buffett
Buffett: Anytime you are buying a non-productive asset, you are basically hoping someone else in the future buys it an even more inflated price hoping to repeat the same.
Would you look for mis-priced stock opportunities?
Munger: If the gap between value and price isn’t attractive, just move on to other opportunities. If you want a formula, you should go to graduate school.
Advice To Investors
Buffett: Investors can learn a lot by going out and doing things yourself.
What can Berkshire do to increase women’s participation at senior levels and board levels?
Buffett: I feel optimistic about the future because there will be lot more selection by merit than by inheritance.