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Warren Buffett says investment opportunities come from ‘other people doing dumb things’

Warren Buffett, Chairman and CEO of Berkshire Hathaway, appears at the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., on May 5, 2019.

Associated Press

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Billionaire Warren Buffett talked about the banking crisis, AI, Apple and a number of other hot topics Saturday at Berkshire Hathaway Inc.’s BRK.B BRK.A annual meeting, but there was one quip that may have been his best investing advice.

When asked a question about how the rise of disruptive technologies — such as AI — may affect Buffett’s favored strategy of long-term, value investing, Buffett replied: “What gives you opportunities is other people doing dumb things. During the 58 years we’ve been running Berkshire, I would...