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Authors: Super UserWarren Buffett, the Oracle of Omaha, says saving early is more important than IQ for a young person.
In an interview with Yahoo! Finance, Buffett said he himself started saving very early in life and it really paid off.
He once again called index funds the best form of equity investing.
“If you consistently stick with them over decades, they will do wonders.
We have not invested our cash holding in ETF because we would rather like to buy entire business,” he said.
About succession plan at Berkshire, he said it is important to have the right person.
“We may find it in a month or it may take six months.
But it's important to have the right person,” he said.
Asked if he would consider investing in China, which is fast emerging as a large economy on course to topple the US as the world’s largest economy some day, Buffett said: “We want to invest money smartly in big economies and growing economies.
China will become big, but it's a long way off.
Because they started with a lower base,” he said.
About Bitcoin, Buffett said it cannot be an investment choice.
“When you buy Bitcoin, you are just hoping that the next guy will pay more; it will not produce profit itself.
That is not investing, that is one kind of game.”
Asked how he would like to be remembered, he said he would want to be remembered as a teacher; for teachings of all kinds.
“That will be really flattering.
Teaching is an important activity.
I really enjoy it,” he said.
