Warren Buffett warns investors not to gamble on stocks

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Billionaire Warren Buffett warned people not to think investing is an easy way to make a fortune as he answered a variety of questions at Berkshire Hathaway's annual meeting Saturday.

Buffett said it can be tough to pick the long-term winners. He pointed out that in 1903 there were more than 2,000 car companies, and nearly all of them failed even though cars have transformed the country since then.

Buffett spent several hours answering questions Saturday afternoon at an online version of Berkshire's annual meeting alongside vice chairmen Charlie Munger, Greg Abel and Ajit Jain. The executives opined on a variety of topics at the meeting including: Omaha, Nebraska-based Berkshire is sitting on $145.4 billion in cash and short-term investments because Buffett has struggled to find major acquisitions for the company for several years.

This was the second year in a row that the annual meeting was held online because of the coronavirus pandemic. This year's event was moved outside of Omaha for the first time -- to Los Angeles to be near where the 97-year-old Munger lives. The conglomerate said that besides the investment gains, profit also improved at all of its major divisions -- including insurance, utility, railroad, manufacturing and retail companies -- as the economy continued to recover.

 

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There will be A LOT of bankrupt “new investors” within the next 3 years, and they did it all to themselves.

He looks how Mr. Dressup would look if his tickle trunk was filled with blood diamonds

Warren should just relax and join his younger brother in Margaritaville.

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