What Warren thinks…
Posted by Dave | Posted in Investing, Warren Buffett | Posted on 19-04-2008-05-2008
0
During April 2008, University of Pennsylvania’s Wharton School students were invited to visit Warren Buffett in his hometown Omaha, Nebraska. A reported from Fortune Magazine also accompanied them.
“How do you get your ideas?
I just read. I read all day. I mean, we put $500 million in PetroChina. All I did was read the annual report.
What advice would you give to someone who is not a professional investor? Where should they put their money?
Well, if they’re not going to be an active investor – and very few should try to do that – then they should just stay with index funds. Any low-cost index fund. And they should buy it over time. They’re not going to be able to pick the right price and the right time. What they want to do is avoid the wrong price and wrong stock. You just make sure you own a piece of American business, and you don’t buy all at one time.”
