I recently stumbled upon shoemoney.com blog and found an interesting post about Berkshire Hathaway weekend meeting, featuring some of the legendary investor’s insights:
Religion – He is agnostic. A true agnostic. He just does not know and neither do I.
Investing – investing in what you know and understand. Diversification is for the idiot investor – I can’t agree with this more.
The Green Movement – Warren Buffet says whoever thought it was a good idea to burn corn for fuel is a complete idiot. He has said this every year for as long as I can remember. He is totally right. He has always said the only solution to alternative fuels is the sun and the wind. Based on our population growth and consumption its the only answer.
The US Dollar – Buffet has said for a long time the US dollar was over valued and he thinks it will go down before it goes back up. He also stated how amazing our country is that it can be run by complete idiots and yet still be an economic super power.
He commented on the Debt of the Us and it was a amazing answer that I wish I could remember word for word. It basically was saying that the US has always done well borrowing money and unlike other countries we are not savers and that has always worked very well for us.
The most interesting part for me was “investing in what you know and understand. Diversification is for the idiot investor”
While I can’t completely agree with this, diversification is important – you wouldn’t want to risk losing everything if you did the wrong choice, the truth is indeed put your money in what you know and understand! This is specifically true about domaining.