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The World’s Greatest Investor – Current Thoughts
Berkshire Hathaway last week had their Annual General Meeting where the world’s greatest investor Warren Buffett shared his thinking on many issues.
Of particular note I believe the following are interesting for anyone investing at the moment.
Commodities and Gold
Buffett answered why he does not own commodities including gold as he said he owns assets based on what they produce not the fact that their rising prices creates excitement itself.
Buffet went onto say investors that are getting into gold are “silly people”. “People like to get in on things that are rising in prices. Over time, it has not been the way to get rich”. Buffet also questioned the utility of gold saying that all you could do was admire it a point which was reinforced by his colleague Charlie Monger who said gold investors “preyed on fear” due to it being a safe haven investment.
Buffet said that over time he believed intelligent people can make more money from productive assets than speculating in commodities.
US Dollar and US debt
Buffett said that the US dollar purchasing power will reduce over time but the question remains at what rate. He said that he would rather invest in the US right now more than any other period of time in history. He said the US will not have a debt crisis as long as they issue debt in their own currency.
Nuclear Power
Buffett believes that notwithstanding the Japan disaster that Nuclear energy will remain an integral part of our energy mix due to the negative factors surrounding the alternatives.
If you want to take a peak of the WSJ live blog of the meeting it is located here http://blogs.wsj.com/deals/2011/04/30/live-blog-the-berkshire-hathaway-annual-meeting/
Of particular note I believe the following are interesting for anyone investing at the moment.
Commodities and Gold
Buffett answered why he does not own commodities including gold as he said he owns assets based on what they produce not the fact that their rising prices creates excitement itself.
Buffet went onto say investors that are getting into gold are “silly people”. “People like to get in on things that are rising in prices. Over time, it has not been the way to get rich”. Buffet also questioned the utility of gold saying that all you could do was admire it a point which was reinforced by his colleague Charlie Monger who said gold investors “preyed on fear” due to it being a safe haven investment.
Buffet said that over time he believed intelligent people can make more money from productive assets than speculating in commodities.
US Dollar and US debt
Buffett said that the US dollar purchasing power will reduce over time but the question remains at what rate. He said that he would rather invest in the US right now more than any other period of time in history. He said the US will not have a debt crisis as long as they issue debt in their own currency.
Nuclear Power
Buffett believes that notwithstanding the Japan disaster that Nuclear energy will remain an integral part of our energy mix due to the negative factors surrounding the alternatives.
If you want to take a peak of the WSJ live blog of the meeting it is located here http://blogs.wsj.com/deals/2011/04/30/live-blog-the-berkshire-hathaway-annual-meeting/
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