(Neb)-40,000 Attend Berkshire Hathaway Annual Meeting In Omaha
OMAHA (AP) - More than 40,000 people attended Saturday's Berkshire Hathaway annual meeting in Omaha, listening to billionaire Warren Buffett and Berkshire Vice Chaiman Charlie Munger answer questions for several hours.
Much of Buffett's comments dealt with his long-standing investment philosophy. He said investors should all stick to areas they know when they are deciding what companies to invest in - a concept he calls your "circle of competence."
Buffett said that over time. he has expanded his circle a bit, but has also found areas where he's incompetent and shouldn't be investing.
He has famously avoided investing in most high-tech stocks over the years because he felt that he couldn't reliably predict which firms would dominate in the future, but in recent years Buffett's led Berkshire Hathaway to become a major shareholder in Apple.
Buffett wrapped up the weekend full of events around the annual meeting by schmoozing with shareholders - playing bridge with some of them and sitting in on several private dinners for other. He also prepared for an extended 3-hour television interview this morning on CNBC.
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