Warren Buffett referred to as out stock-market gamblers, savaged bitcoin, and praised Elon Musk and Jeff Bezos final yr. Here are his 10 greatest quotes of 2022.
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Warren Buffett trashed bitcoin, praised Elon Musk and Jeff Bezos, and decried stock-market playing.
The famed investor mentioned inflation and retirement, and blasted misleading earnings changes.
Here are Buffett’s 10 greatest quotes of 2022.
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Warren Buffett referred to as out stock-market gamblers, dismissed bitcoin as nugatory, and lauded Elon Musk and Jeff Bezos in 2022.
The 92-year-old investor mentioned he isn’t planning to retire as Berkshire Hathaway CEO anytime quickly, slammed firms that report deceptive financials, and beneficial a technique for individuals to offset inflation.
He made the feedback in his yearly shareholder letter, at Berkshire’s annual meeting, and through an interview with Charlie Rose.
Here are Buffett’s 10 greatest quotes of 2022, evenly edited for size and readability:
1. “Charlie and I are not stock-pickers; we are business-pickers.” (Buffett was referring to his longtime enterprise accomplice and Berkshire’s vice-chairman, Charlie Munger.)
2. “Deceptive ‘adjustments’ to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull.”
3. “Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the ‘orangutan effect’: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.”
4. “I know I’ll win over time. That doesn’t mean I’ll beat everybody else, or anything like that. But the game is very, very, very easy if you have the right lessons in your mind about what you’re buying.” (Buffett was underscoring that he views shares as items of a enterprise.)
5. “We have a successor in place, but he’s not warming up. I’m in overtime but I’m out there.”
6. “Elon is taking on General Motors and Ford and Toyota, and all these people who’ve got all this stuff, and he’s got an idea and he’s winning. That’s America. You can’t dream it up. It’s astounding.”
7. “It couldn’t happen but it did. If they’d stopped in Omaha on the drive from New York to Seattle and he’d said, ‘What do you think of this idea?’ I would have said, ‘Good luck, Jeff.'” (Buffett was referring to Amazon’s unlikely evolution from an internet bookseller to a expertise titan beneath founder Jeff Bezos.)
8. “Sometimes the stock market is quite investment-oriented, and other times it’s almost totally a casino, a gambling parlor — and that existed to an extraordinary degree in the last couple of years, encouraged by Wall Street.”
9. “If you told me you owned all of the bitcoin in the world, and you offered it to me for $25, I wouldn’t take it because what would I do with it? I would have to sell it back to you one way or another. It isn’t going to do anything.”
10. “The best protection against inflation is still your own personal earnings power. The best investment by far is anything that develops yourself.”
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