May 072018
 
  1. Buffett: Bonds will fall a lot from current prices (as interest rates rise). Investors should buy S&P 500 Index instead. We are not in a stock market bubble. There has never been a good time to buy U.S. Treasury bonds.
  2. Buffett: Wells Fargo will outperform its rivals in the future.  Berkshire owns 10% and will not buy more because Berkshire would then be classified as a bank holding company and subject to more regulation.
  3. Buffett: If a $100 billion deal came along that we like, we will get it done.
  4. Buffett likes Apple a lot.  He would like to own 100% of Apple if he could.  He likes the business and the management.
  5. Charlie Munger: “I’m delighted to be here. Actually, I am delighted to be anywhere.”
  6. Buffett admits mistake of not following Munger’s advice to buy a large stake in Costco many years ago.
  7. Munger recommends investing in Chinese companies. They are cheaper than U.S. companies.
  8. Munger: When Democrats control government there will be a single payer system for health care with an opt out.
  9. Buffett: Associate with people who are better than you and you will move in that direction.
  10. Munger wishes Berkshire owned more of Apple.  It is reasonably priced and strong.

 

 

 Posted by at 9:57 am

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