index fund," Buffett said, which holds 500 of the largest companies in the U.S., "and have for a long, long time to people."
To drive home his point, Buffett shared a slide that highlighted the large number of automobile companies in the early 1900s. "[T]here were at least 2,000 companies that entered the auto business because it clearly had this incredible future," he said. "And in 2009, there were three left, two of which went bankrupt."
"It's a great argument for index funds," Buffett said. "If you just had a diversified group of equities, U.S. equities, that would be my preference, but to hold over a 30 year period.", and 10% in treasury bills, for his wife after he dies. "I just think that the best thing to do is buy 90% in S&P 500 index fund."In the past year, Buffett says there was "the greatest increase in the number of gamblers" dabbling in the stock market.
"[T]here's nothing wrong with gambling and they got better odds than they've got if they play the state lottery, but ... they actually don't have a lot of good results," he said."It's become a very significant part of the casino group that has joined into the stock market in the last year and a half," he said. "There's nothing illegal about it. There's nothing immoral. But I don't think you would build a society around people doing it.
MakeIt getting old is hard to watch ,warren stuttering and loss of words...wont be long!
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