Business

Warren Buffett On Elon Musk’s Meltdown, Apple, Google, Tariffs, Bitcoin, Gold, Index Funds And More

Warren Buffett’s three hour marathon with CNBC takes place on Monday May 7th 2018 right after the Berkshire Hathaway 2018 annual meeting. A lot of topics are being discussed so to keep track of it stay tuned as you can find it all below – keep checking back here for the latest

One new book recommendation from Buffett – Munger’s was unspecific and Gates was a repeat

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From Dr. David Kass

10 Highlights of Warren Buffett, Charlie Munger, Bill Gates on CNBC – May 7, 2018

  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 will move in that direction.
  10. Munger wishes Berkshire owned more of Apple.  It is reasonably priced and strong.

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