Summary
Last month, about 27,000 Berkshire Hathaway shareholders listened to chairman (and investor) Warren Buffett and his partner, Charlie Munger, answer questions for five hours in Omaha, Neb. Here are some snippets, paraphrased:
* On gambling: Making sensible investments based on odds has made Mr. Buffett rich. He referred to gambling as a "tax on ignorance," where ignorance is people putting their money on the line when the odds are against them.See the full content of this document
Extract
The Fool's School Omaha Nuggets
* On starting out: Mr. Buffett explained that if he were working with relatively small sums (as most of us are), he'd have many more options and would be able to earn higher rates of return. He explained that given B...
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