Legendary investor Warren Buffett who once famously said, I always knew I was going to be rich.
I dont think I ever doubted it for a minute, on Saturday said saving money is not necessarily the first thing to do in life.Answering a question from a 17-year-old on delayed gratification, Buffett said: You dont save by not going to a movie.
There is a lot to be said about saving money by denying yourself enjoyment.
Delayed gratification is not necessarily an all-qualified reason, he said.Catch all the big announcements made in Berkshire conference at OmahaBuffett said there is no correlation between money and happiness.
If you are to be happy having $20,000 or $50,000, you won't be happy having $5 million.
Loads and loads money do not make people happier.
You are happier when you have financial security, he said, warning: Don't go overboard on delayed gratification.The 88-year-old Chairman and Chief Executive Officer of Berkshire Hathaway took questions from investors and journalists for hours in a marathon QA session at the conglomerate's annual shareholder meeting, what the billionaire investor calls "Woodstock for Capitalists".Answering a question of capitalism in the US, Buffett said: "I'm a card-carrying capitalist.
I believe we wouldn't be sitting here except for the market system and the rule of law that are embodied in this country.
So you don't have to worry about me changing in that manner."In another context, talking about his 60-year partnership with Munger, Buffett said: We make the big decisions jointly.
It's just that we haven't had any big decisions.And on Bitcoin, the legendary investor said, On my honeymoon in 1952, I saw a lot of people playing roulette.
I told my wife, we will make a lot of money.
Bitcoin rejuvenates that feeling.