Warren Buffett, Charlie Munger discuss profits, AI and more at Berkshire Hathaway meeting

Buffett and his partner Charlie Munger spent all day Saturday answering questions at the annual shareholders meeting for his Berkshire Hathaway conglomerate inside a packed arena in Omaha.

New things

“New things coming along doesn’t take away the opportunities. What gives you the opportunities is other people doing dumb things,” said Buffett, who had a chance to try out ChatGPT with his friend Bill Gates a few months back.

An open trading relationship

Both Buffett and Munger said the U.S. will benefit from having an open trading relationship with China, Both countries should be careful not to exacerbate tensions – the stakes for the world are too high.

“Everything that increases the tension between these two countries is stupid, stupid, stupid,” Munger said.

90s

The chance to listen to the legendary investors answer questions about business and life attracts people from all over the world to Buffett’s hometown. Some shareholders feel a particular urgency to attend because the two men are both in their 90s.

“Charlie Munger is 99. I just wanted to see him in person. It’s on my bucket list,” said Sheraton Wu, 40, from Vancouver. “I have to attend while I can.”

Chloe Lin traveled from Singapore for what she called “a once-in-a-lifetime opportunity.”

About E. J. McKay

E.J.McKay is a Shanghai-headquartered investment bank with a special focus on mergers & acquisitions. We are one of the most long standing independent investment banks in China, with core business of mergers & acquisitions and financing advisory.