Warren Buffett says, 'Purchase of Amazon still 'value investing'

the other big global event this weekend was the Berkshire Hathaway 2019 AGM where Warren Buffett revealed a peek inside the minds of the men who are touted to perhaps take over from the Oracle of Omaha himself Gregg Abel an Ajit Jain joined him for the Q&A session he also hinted at more liberal buybacks at Berkshire and lamented that he did not spot Google earlier on and hoped that Apple atones for the myth let's listen in to some of the key tidbits of the AGM [Applause] I don't think the Occidental transaction will be lost when we do that there may be one you know in a month or maybe not there may be one three or four years from now it won't be identical I hope it's larger but the point is we we're very likely to get the call because we can do something that really I don't think no institution can do it I mean they've got committees that have to pass on it they wanted to have them so called Mac clauses material adverse changes they want to do this and that and if somebody wants a lot of certain money for a deal you know they've seen that I can get a call on Friday afternoon and they can make a date with me on Saturday and on Sunday it's done so Steve normally should diversify and do all that sort of thing and I I want the entire amount that they have to begin Captain Berkshire as they distribute it over time to the philanthropies and I don't worry at all about the fact I I would like to have a very large sum go to the fine trapeze and I don't worry at all about the fact that it essentially will all be in Berkshire I'm willing to make that decision while I'm alive which will continue for some years after I die so I have a lot of confidence in the ability of the Berkshire culture to endure and that we have the right people to make sure that that happens but I'm betting my entire net worth on that and and that doesn't give me pause at all I've rewrite my will every few years and I ride it I bribed it the same way in respect to the Berkshire holdings

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