1 Hour: Investing with Warren Buffett in 2023
Buffett and Munger emphasized the importance of staying away from negative people to live a happy and successful life. While Charlie suggested making some exceptions for family members, Buffett noted that having negative parents can be a tough problem to deal with. They discussed the MacArthur family, who had a drunken father, but the children chose to get out of the house and eventually became superstars. They also mentioned that they were lucky to have supportive parents. In summary, minimizing the influence of negative people is vital, and one should do what's best for their mental health and well-being.
Buffett acknowledged that Taiwan Semiconductor is one of the best-managed and most important companies in the world. However, he expressed concerns about its location and geopolitical issues, which prompted him to reevaluate his investment. Although the company is planning to open chip capacity in the United States, Buffett still prefers investing in companies based in the United States. As a result, he sold almost the entire position within a few months.
Buffett explains that Microsoft has been willing to cooperate with the opposition but that the UK regulator has the power to block the acquisition. He mentions that the deal cannot be solved by offering more money and that he does not know how it will turn out. If the deal does not go through, he believes it will not be the fault of either Microsoft or Activision. He draws on his past experience with buying Dominion Energy and how the US government prevented him from buying something else despite customer and state approval. In this case, he thinks the British government is making a mistake by opposing the deal, but he notes that not everything that should happen does happen, and the future actions of Berkshire Hathaway will depend on many factors.
