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Nati Harnik / AP

Warren Buffett, 86, gave a master class during Q&A yesterday at Berkshire Hathaway's annual meeting ("Woodstock for Capitalists"), which drew 30,000 devotees to CenturyLink Center in Omaha, Nebraska:

  • On declining U.S. manufacturing: "Nobody should be roadkill ... Greater productivity will benefit the world in a general way, but to be roadkill, to be the textile worker in New Bedford [is painful] ... It would be no fun to go through life and say: I'm doing this for the greater good, and so that shoes or underwear was all for 5 percent less."
  • On cyber attacks: "the number one problem [for] mankind."
  • On not investing in Google: "I blew it."
  • On Amazon's Jeff Bezos, and his success in both e-tailing and cloud computing: "the most remarkable business person of our age ... I've never seen a guy succeed in two businesses almost simultaneously that are really quite divergent in terms of customers and all the operations."
  • On the House health-care plan, which would repeal added taxes on payroll and investment income for high earners: "It is a huge tax cut for guys like me."
  • On managing employees: "We count very heavily on principles of behavior rather than loads of rules."

P.S. Lead story of The (London) Sunday Times, "Brexit brings bonanza for billionaires" (paywall): "[W]ealthy individuals have benefited from the weaker pound since Britain voted for Brexit, boosting the sterling value of their overseas investments."

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Go deeper

Updated 3 hours ago - World

Reports: Up to 17 U.S. missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince earlier this month. Photo: Richard Pierrin/AFP via Getty Images

Children were among up to 17 American Christian missionaries and their relatives kidnapped by a gang in Haiti on Saturday, the New York Times first reported.

Details: The missionaries had just left an orphanage and were traveling by bus to the airport to "drop off some members" and were due to travel to another destination when the gang struck in Port-au-Prince, Haitian security officials said, per the NYT.

5 hours ago - World

Melbourne, "world's most locked-down city," to lift stay-at-home orders

Victorian Premier Daniel Andrews during a news conference in Melbourne, Australia, on Sunday. Photo: Quinn Rooney/Getty Images

Melbourne's stay-at-home orders will end five days earlier than planned, officials in Australia's second-biggest city announced Sunday.

Why it matters: The capital of the state of Victoria has had six lockdowns totaling 262 days since March last year. That means Melbourne spent longer under lockdown than "any other city in the world" during the pandemic, Reuters notes.

Venezuela suspends talks with opposition after Maduro ally extradited to U.S.

Venezuelan President Nicolás Maduro in Caracas, Venezuela, in June. Photo: Gaby Oraa/Bloomberg via Getty Images

A key ally of Venezuela's President Nicolás Maduro was extradited from Cape Verde to the U.S. on Saturday to face money laundering charges in Florida, Bloomberg first reported.

Why it matters: Venezuela's government called off negotiations with opposition officials that were scheduled for Sunday in Mexico in response to the extradition of Alex Saab, a Colombian businessman and financial fixer for Maduro. Security forces placed six U.S. oil executives under house arrest hours later, per AP.