Here's what Warren Buffett said at the Berkshire Hathaway AGM
The AGM of the Omaha-based Berkshire Hathaway was held virtually for the second year in a row.
May 02, 2021 / 01:15 PM IST
Billionaire Warren Buffett on May 1 addressed Berkshire Hathaway's shareholders at the annual general meeting, which was held virtually due to the COVID-19 pandemic.
The AGM of the Omaha-based company was held virtually for the second year in a row.
Also read: Five key investment mantras followed by Warren Buffett
Here's a summary of what Buffett said at the meeting:
> Buffett, frequently called "the Oracle of Omaha", cautioned investors against gambling on stocks. In his view, stock trading platforms that allow people to buy and sell stocks for free, such as Robinhood, are only encouraging that gambling.
> Buffet said selling some Apple stock might have been a mistake.
"We got a chance to buy it and I sold some stock last year...that was probably a mistake," Buffett was quoted as saying by CNBC.
> The Berkshire Hathaway Chairman also said he does not plan on buying more airline stocks. "I think the airline business has done better because we sold and I wish them well but I still wouldn’t want to buy the airline business."
> Buffett is also said most people will fare better by owning an S&P 500 index fund instead of betting on individual stocks.
> Buffett and Berkshire Hathaway Vice Chairman Charlie Munger said that while they do not have to agree on everything, the pair have never had an argument in more than six decades of working together.
Munger also shared his strong views on cryptocurrency, calling it disgusting and contrary to the interests of civilization."(Inputs from CNBC, Reuters and Associated Press).