Buffett Hosts University of Pennsylvania’s Wharton School Students
Apr 19th, 2008 by Martin Lee
In early April, Warren Buffett invited 150 students from the University of Pennsylvania’s Wharton School to his premise. Fortune Magazine was also invited to sit in with the chance for an interview. The following were covered in the session:
- Why the efficient market theory is misguided.
- Why it is very difficult to regulate people.
- His thoughts about the election.
- His first job.
- How he gets his ideas.
- His advice to you if you are not a professional investor.
- The extreme leveraging in the current turmoil.
- The impossibility of understanding CDOs.
I always say you should get greedy when others are fearful and fearful when others are greedy. But that’s too much to expect. Of course, you shouldn’t get greedy when others get greedy and fearful when others get fearful. At a minimum, try to stay away from that.
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