Buffett, chairman of Berkshire Hathaway, still drinks Coca-Cola and has kept it up on his trip to Japan according a recent CNBC interview.
He says he has been extremely lucky to stay healthy and live so long.
He advised Berkshire began selling its stake in Chinese EV maker BYD for the first time in recent months, after investing in the automaker in 2008.
Buffett had a negative opinion on streaming services, questioning if they will be able to raise prices.
Buffett says he sold Taiwan Semiconductor (TSMC) in the third quarter of 2022, selling 86% of it.
“I think Taiwan Semiconductor is the best in that field and one of the best companies in the world,”, but “There’s actually a danger of seismic action where they’re located,”
“Something like bitcoin, it’s a gambling token,” and “It doesn’t have any intrinsic value.”
“That doesn’t stop people from wanting to play the roulette wheel,” he continues, noting that betting against the odds eats up people’s money, and only the winners are hyped up and promoted to get people excited. “I don’t know how to turn back the clock on that.”
Buffett suggests bitcoin’s longevity reflects speculation, a strong gambling instinct among humans, and more people wanting to buy in then get out.
“People love the idea they’re going to make more money tomorrow,” noting that it drives people crazy to see their neighbors getting rich without knowing anything.
“We’ve had an explosion of gambling essentially,” he says. “You had millions of people that were getting checks in the mail and sitting home and finding out that they could have a roulette wheel in their house,” he continued, adding that people found all the appeals of gambling at home that they used to travel to Las Vegas to enjoy.
“The urge to participate in something where it looks like easy money — it’s a human instinct that’s been unleashed,” Buffett says, talking about the legalization of sports betting in the US.
“People love the idea of getting rich quick, and I don’t blame them,” Buffett says. “I’ve always wanted to get rich slow and have a lot of fun along the way.”
“I think (Chat GPT) is something that I don’t understand at all,” “I don’t really understand it. I think it’s an incredible technological advance in terms of showing what we can do but I don’t know whether we know what happens.”
“I don’t want to change the world too many times without having some idea of the consequences of it,” he says. “I think this is extraordinary but I don’t know whether it’s beneficial.”