Ba Lao Cautioned Against Investing In Rookies Without Blindly Managing Finances.

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The gods of Omaha obviously had some experience, otherwise he would not earn himself $50 billion.

So what advice will Buffett give to those rookies who have been investing in rivers and lakes, even the Rookies of many years?

Envy and jealousy can cause a lot of problems.

You mustn't get that kind of emotion. "

At this annual meeting of shareholders, Buffett gave such advice.

One investor likened the annual meeting to Hogg Watts's Witchcraft school.

Nature is Dumbledore.

Buffett joked, "I have never seen Harry Potter, but I think you are praising me."

The investor asked Buffett how his children could have one.

The future depends on how they should work hard.

"Every day people win the Lotto awards, but we have no reason to be jealous."

Buffett said, "if people want to do something unreliable at mathematics level...

There's no way we can do that. "

"What you should do is to find ways that are really meaningful.

When you buy a stock, you should know that you have bought a business.

You can't buy it because you can buy it. It's a stupid game. "

Munger also interposed and said, "I think your kids are better off finding people they trust when dealing with stocks and bonds.

Unfortunately, most of the time, they can't find them.

When you listen to the elderly, they often lie to you (exaggerate their own return on investment).

Later, Buffett also said: "the two of us (and Munger) do not predict long-term price changes in crude oil, cotton or anything else.

Maybe we are better at stocks. "

Buffett concluded: "in the long term, the performance of American enterprises is pretty good.

Envy and jealousy can cause many problems.

You mustn't get into that mood, but stick to your own path. "