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...