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Why Buffett doesn't "talk his book"

Buffett & Munger2015-05-02video1:15Open original ↗

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SpeakersWarren1Charlie1
[0:00]
WarrenAnd there's one thing I always find interesting, we get asked questions about investments we own and people think we want to talk them up, you know, or we have no interest in encouraging other people to buy what the investments we own. I mean, we are better off because either we or the company is likely to be buying stock in the future. Why would we want the stock to go up if we're going to be a buyer next year and the year after and the year after that. But the whole mentality of Wall Street is that if you buy something, even if you're going to buy more of it later on, or if the company is going to buy a own stock and the people seem to think that they're better off if it goes up the next day or the next week or the next month. And that's why they talk about talking your book. If we talk to our book from our standpoint, we would say pessimistic things about all four of the biggest holdings we have because all four of them are repurchasing their shares and obviously the cheaper they repurchase their shares, the better off we are. are. But people don't seem to get that point. Do you have any idea why, Charlie?
CharlieWarren, if people weren't so often wrong, we wouldn't be so rich.