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Archive for August, 2008

Warren Buffett Interview at Omaha

Last week, Warren Buffett had an interview at Omaha with (who else) Becky Quick of CNBC. For the transcript and video, you can visit the following pages:

Warren Buffett Interview Complete Transcripts and Video

Quick Summary of Warren Buffett Interview

There was one portion which made a great impression on me:

BUFFETT: I mean, if you’ve got a great deal in this country, you don’t have to go to Beijing, you know, or the Middle East to find somebody with money to fund it. It’s like when oil prospectors would come up here from Texas and they’d say, `We got a wonderful deal for you in Texas,’ I always thought, there are all these oil men in Texas, you know, why didn’t they call on them?

QUICK: So you think the sovereign wealth funds are getting the raw end of the deal when they buy into some of the financials?

BUFFETT: I think that they are buying what is being sold to them, and in securities you should not buy what’s being sold to you. You should buy what comes from your own analysis and looks the cheapest. The idea that somebody is going to come and call on you and say, you know, `Buy $2 billion worth–this is the best thing to buy in the world,’ it isn’t the best thing to buy in the world.

The best thing to buy in the world is something that you’ve dug out and that people aren’t talking about and that, you know, you find yourself. Securities that are being sold to you have a special push in it. Usually, there’s extra commissions in them or all kinds of things. So I don’t–I don’t want to get ideas from other people, basically. I want to get ideas from a bunch of facts that I uncover someplace.

Moral of this story: Always do your own homework when it comes to investing!

Robert Miles at Invest Fair

I haven’t had time to update the blog for sometime as I was overseas for a short while.

Thought I drop in for a quick update of an event that’s happening in Singapore.

Robert Miles, an expert on Warren Buffett, will be in Singapore to give a couple of talks at the Invest Fair 08. This event will be held over the coming weekend at Suntec Convention Center.

For more details about this event, you can refer to the Invest Fair website.