Business ForumBuffett bash gets bigger as billionaire gets older at News Forum - Reuters - Last Saturday, Billy Joel, 57, rocked some 17,000-plus people at Omaha's Qwest Center, the Piano Man's first concert ...
Buffett bash gets bigger as billionaire gets older
Reuters - Last Saturday, Billy Joel, 57, rocked some 17,000-plus people at Omaha's Qwest Center, the Piano Man's first concert in the city in 21 years.
Warren's investment advice for the rest of us... Buffett tells investors to lower expectations Sunday 4th May, 2008 - Things have changed, and lofty earnings should no longer be expected, says Warren Buffett.
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The Berkshire Hathaway CEO was addressing investors at the company's annual general meeting on Saturday at the Qwest Center in Omaha, Nebraska. A record 31,000 shareholders were in attendance. Investors need to lower their expectations, the tycoon told his audience.
Asked if Buffet's latest purchases would yield returns of more than 7 to 10% over time, Buffett candidly answered, 'No.' 'We would be very happy if we earned 10%, pre-tax' on the additions to Berkshire's equity portfolio,' he said. 'Anyone that expects us to come close to replicating the past should sell their stock; it isn't going to happen.'
'We'll get decent results over time, but not indecent results,' he added. Buffett was also cool on U.S. dollar assets, saying he preferred to invest in assets and companies that generated foreign exchange.
Buffett bash gets bigger as billionaire gets older
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