Buffett: I Am A "Political Bigamist"

Some 15 times a year, Warren Buffett invites a group of business students for an intensive day of learning. Fortune was there for a recent visit.

His advice to investors:

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.

His take on the economy, long term:

The American economy is going to do fine. But it won't do fine every year and every week and every month.

His view on the upcoming Presidential Election:

Way before they both filed, I told Hillary that I would support her if she ran, and I told Barack I would support him if he ran. So I am now a political bigamist. But I feel either would be great. And actually, I feel that if a Republican wins, John McCain would be the one I would prefer.

Click through Fortune's slideshow of the event from the beginning.

Comments

[WIpatriot]

Warren, you man-hussy, you.

[mamacat]

He is not a bad man, and he does reflect on what is going on in the world. While some people would like the super-rich to do more to improve the state of our world, the simple truth is that billionaires are so rich and powerful, they are not likely to personally suffer, under any circumstances, from what happens in the society around them. This does not make the super rich inherently evil, only suspect.

[Nicolaus]

But that is probably the best polygamy can a man exercise at wonderful Mr. Buffet's age... right? May be not.

[hardrain77]

Yes, it must be nice to be among the richest people in the world.

Especially when money runs apolitical and you're among the big shots profiting off the blood of globalization, war, and the post-9/11 self-imposed misery.

[totalliberal]

He's actually totally against the war and against the tax cuts for the rich.

[gevan]

I was hoping for Jimmy Buffett.

[terrorfied]

"I always say you should get greedy when others are fearful ". This could never be truer about Buffett. Remember.......on the afternoon of 911 Buffett met with GWBush in Nebraska at a military base for a "charity". Also there was the CEO of the company of the precise office that was hit by the plane at the World Trade Center. Except for military and oil.....Buffett has personally profited more from 911 than any other human on the planet. 911 was the ultimate in conspired and staged fear and his words show just how greedy a person can become. Ps.....the Bush administration refuses to release the "investor" who made a SINGLE $5 Billion hedge-bet against the airlines just one week before 911. Greedy when others are fearful just may explain who that might have been?

[stlswest]

Ummmmm yeah. Buffet is invested in companies like Coca Cola, Nebraska Furniture Mart, Sees Candy, Borsheims (jewelry store). Your conspiracy is lame. Keep it movin'.

[terrorfied]

You mean he became the richest man in the world by investing in furniture stores and soda pop? I really need to get a new broker?!

[stlswest]

I met Buffet last year on the same kind of trip described in this article. I thought he was extremely nice. He was very generous with his time. There were about 80 people on the trip and he took a picture with everyone who wanted one. He was very good natured. More power to you Mr. Buffet.

[fisharefreinds]

Why are we making this man into the Dali Lama?
Most of his comments are idiotic and his investments run monopolistic. He got rich on the sound belief that business would do well to go elsewhere. He is heavily invested in Insurance companies and people, if you are looking for alternatives to our present health care system, he aint it. The reason he gave 30billion to Gates Foundation was for estate and tax safety--evasion.
We are the biggest fools with our "entrepresewers."
I don't care what this guy thinks. He can afford to sit and watch the markets tank cause he will make a killing.

[swift goat pet for truth]

I have been reading about Warren Buffett for quite a few years now.
Your description does not match the man in the slightest.

[dadw5boys]

THE AMERICAN PEOPLE LIVE YOUR WORDS MR. BUFFET!!!!!!

WE ARE TOTALLY FEARFUL WHEN THEY GET GREEDY.

BUT IT DOES NOT GOOD FOR US TO GET GREEDY THEY MOVE THE JOBS OVERSEAS.

[Trevor51181]

Caps lock all you want, he won't hear you through your computer.