1996: If Buffett wouldn't by Berkshire here, does that mean he would sell it here?

AUDIENCE MEMBER: Yes. Thank you very much. My name is Maria Nicholas Kelly (PH). I’m from Tacoma, Washington.

And my husband and I have rather different investment approaches. And in 1988, he bought me one share of Berkshire, so that I could learn something about investing. We both started about that same time.

And he has chosen to invest in, let’s say, about 40 different stocks and buying and selling, and doing rather well for us, frankly.

My approach is more simple. And basically, I finally figured out last year that I should invest in the companies of the two wealthiest men in the world.

So — (laughter) — I decided we should buy, monthly, more Berkshire and Microsoft. So, then this year — and so, we’ve been able to do that.

This year, we read in your report that Berkshire is selling “at a price at which Charlie and I would not consider buying it,” so my husband has challenged my investment strategy. (Laughter)

I know that you are an honest man. And while you may not — (laughter) — you may not recommend to “my partner, Charlie,” to buy more Berkshire at this time, do you recommend that I continue — (Buffett laughs) — my rather automatic investment buying of Berkshire?

And I wanted — I think I know the answer. But I wanted my husband to hear it from the horse’s mouth. (Laughter)

WARREN BUFFETT: I think you’re using me here. (Laughter)

AUDIENCE MEMBER: But —

WARREN BUFFETT: Well, I — we don’t recommend selling it, but we don’t recommend buying it, either. We are neutral on that subject.

And I hope you continue to be in with the two wealthiest guys. I like the other fellow, too. (Laughter)

AUDIENCE MEMBER: Thank you.

WARREN BUFFETT: Yeah.