--- title: Warren Buffett Says the Key to Investing Is Capitalizing on 'People Doing Dumb Things' description: The Berkshire Hathaway CEO says there will always be opportunity in value investing — if you capitalize on “other people doing dumb things.” authors: - name: Pete Grieve role: Lead News Reporter url: https://money.com/author/pete-grieve/ bio: Pete Grieve is a personal finance reporter. In his time at Money, Pete has covered everything from car buying to credit cards to the housing market. education: University of Chicago, BA Political Science at_money_since: 2022 articles: 597 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://twitter.com/pete_grieve - https://linkedin.com/in/pete-grieve-b5aa02138 - https://www.facebook.com/petegrieve4 editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2023-05-08T18:57:34.000Z' modified: '2024-01-10T14:47:34.000Z' section: Investing tags: - News word_count: 389 canonical: https://money.com/warren-buffett-investing-dumb-things/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Warren Buffett with dollar in the BG](https://img.money.com/2023/05/News-Warren-Investing.jpg) Warren Buffett says there will always be opportunity in [value investing](https://money.com/stocks-growth-vs-value/) — all it takes is capitalizing on “other people doing dumb things.” The 92-year-old Berkshire Hathaway CEO thinks the investing strategy that made him rich isn’t going out of fashion — but folks may have to look in different places today to find underpriced companies, he said on Saturday at an annual shareholders meeting in Omaha, Nebraska. Responding to an audience question about the market impacts of disruptive [technological innovation](https://money.com/best-strategy-invest-in-ai/), Buffett argued that change doesn't necessarily reduce value investing opportunities, which involve searching for [stocks](https://money.com/how-to-buy-stocks/) or businesses that are available at bargain prices. “New things coming along don't take away the opportunities. What gives you opportunities is other people doing dumb things,” Buffett said. “The 58 years we've been running Berkshire, I would say there's been a great increase in the number of people doing dumb things.” Buffett is one of the most renowned value investors. His holding company, Berkshire Hathaway, owns businesses in areas like railroads, energy and insurance, with major stakes in Apple, Bank of America and others. ## On the other hand The company's vice chairman, Charlie Munger, 99, appeared to be more pessimistic about [opportunities](https://money.com/best-long-term-investments/) left for value investors in 2023. In contrast to Buffett’s comments about dumb people doing dumb things, Munger said he sees [a landscape](https://money.com/stock-market-factors-investors-watching-2023/) in which “there is so much money now in the hands of so many smart people all trying to outsmart one another.” - Value investors should temper their expectations because the opportunity isn’t what it used to be: There’s more competition to invest in good companies, he said. - Munger noted that Berkshire Hathaway is making less money than it once did. But Buffett countered, arguing that has to do with its larger size today. He said it’s harder to find great value opportunities when working at such a scale and managing hundreds of billions of dollars. - A sign that he still believes in the value approach? “I would love to be born today and go out with not too much money, and hopefully turn it into a lot of money,” Buffett said. [7 Best Online Trading Platforms of 2023](https://money.com/best-online-stock-trading/) [Stock Market Outlook: After Fed’s Rate Hike, Investors Eye Inflation and Regional Banks](https://money.com/weekly-stock-market-outlook/) [Regional Bank Stocks Are in Turmoil. Is It a Buying Opportunity for Investors?](https://money.com/should-you-buy-regional-bank-stocks/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/warren-buffett-investing-dumb-things/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Investors", "item": "https://money.com/investors/" }, { "@type": "ListItem", "position": 4, "name": "Warren Buffett Says the Key to Investing Is Capitalizing on 'People Doing Dumb Things'" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/warren-buffett-investing-dumb-things/#webpage", "url": "https://money.com/warren-buffett-investing-dumb-things/", "name": "Warren Buffett Says the Key to Investing Is Capitalizing on 'People Doing Dumb Things'", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-05-08T18:57:34.000Z", "mainEntity": { "@id": "https://money.com/warren-buffett-investing-dumb-things/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/warren-buffett-investing-dumb-things/#breadcrumb" }, "dateModified": "2024-01-10T14:47:34.000Z" }, { "@type": "NewsArticle", "headline": "Warren Buffett Says the Key to Investing Is Capitalizing on 'People Doing Dumb Things'", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/05/News-Warren-Investing.jpg", "width": 2880, "height": 1920, "caption": "News-Warren-Investing" } ], "author": [ { "@type": "Person", "name": "Pete Grieve", "url": "https://money.com/author/pete-grieve/", "@id": "https://money.com/author/pete-grieve/#author", "description": "Pete Grieve is a personal finance reporter. 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