Buffett serves up some McNuggets on NPR …

Warren B. was waxing on NPR about investments and the economy.

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I listened to the podcast, expecting to scream when he started whining about his taxes being too low.

He didn’t, so I didn’t.

Below are some punch lines and a link to the audio of the interview.
 
 

  • I don’t get carried away with trends or get envious of how people are making money in something that I don’t understand. I sort of stick with what I understand. If I can’t understand it myself, I’m not going to do anything based on somebody else’s view.
  • Some CEO’s have no ability to deal with the allocation of capital.
  • I don’t want to hear what a lot of other people think. I just want a lot of facts.  I just want to look at the facts and see where they lead me.. I don’t care what other people think at all.
  • People don’t need to trade. I mean if you decide to buy a farm, you buy it… based on what the farm’s going to do. You don’t get a quote on it every day.
  • People — when they buy stocks and sell them a week later or a month later or have target prices for them and all that — it borders on gambling and sometimes it’s outright gambling. People love to gamble.
  • No matter how rich a household is, if it spends way more than it takes in, it’s going to be unhappy and its going to have unhappy members. It’s not a complicated proposition,
  • I think we run the risk always of substantial inflation. Not immediate, but it’s so much easier for legislators to print money to try and solve problems.
  • At McDonald’s: get 2 Sausage McMuffins,  put the sausage parts together and call that a “Sausage McBuffett.”

Interview

Thanks to JNH for feeding the lead

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2 Responses to “Buffett serves up some McNuggets on NPR …”

  1. Chris Wargo Says:

    Interesting that he feels households will be unhappy if they spend more money than they take in, yet just a few days ago he suggested the federal govt should strive for perpetual deficit spending: “Our government’s goal should be to bring in revenues of 18.5 percent of G.D.P. and spend about 21 percent of G.D.P.”

  2. TK Says:

    Amen to everything but the sausage.

    The government is not a household.

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