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He's great entertainment an AOL are teaming up to create educational -- shows for kids.
One of the short features is a legendary investor Warren Buffett and it's titled.
Secret millionaire's club -- mr.
Buffett joins us right now from Washington don't see.
Good morning mr.
Buffett thanks for being here.
Good morning -- I like this idea mr.
Buffett because I have three young boys and I think we need to teach them a little bit about finance tell you why he decided to do this.
Well Andy Heyward is it for a ticket telling a story mania is done you done it with thousands of episode with children over the years and I.
Was particularly impressed a few years ago when he did something called Liberty's kids and it if your three children haven't seen it.
It it's a great story about about how this country came about and in the late eighteenth century and and -- 45 episodes.
But it was not only good for -- I -- I really -- American history and a great way -- that so I've been very impressed with Andy and when he came up with this idea that maybe we -- help.
Young people like your children develop.
Better habits for their lifetime.
In terms of how they thought about money and savings and and and their own self worth investing in themselves and all that.
I just thought it was a perfect idea and and here we are.
Yeah updated neglect household is the FDIC chairs rock rock in the saving shock as I'm trying to -- teach them what compound interest really is.
You know Warren there's a lot of people who would suggest that props a lot of adults need to watch this to get sort of comfortable re educated about how to control their personal finances particularly what we've gone through over the past couple years.
-- -- important that we empower ourselves to take a little bit more ownership.
And that's a terrific idea big just like I will be learns of American history.
I I I do think adults could use some of the lessons that that will be trying to work -- of the stories.
For the young children the vote.
The lessons are timeless I mean if -- if you develop good financial habits you know that will last a lifetime it makes life easier all kinds of ways and if you if you.
To the contrary if if you get bad financial habits and I hear from people every day that write him about the problems -- gotten into with credit cards or something of the sort.
It can ruin your life I mean it hurts marriages it hurts health so it's it's really important get the right ideas early and habits.
And holiday they say the chains of habit or -- like to be felt until it too heavy to be broken so you wanna get the right habits -- -- -- we can help.
Some young people who that you know.
-- I will salute -- for getting that job done.
Well said let's let's talk a little bit about some of the habits that you put into it into action.
You guys is that a call had a fair amount -- cash on the books at the end of the quarter.
I'm curious how are you spending it are you still investing at these levels because we've had a remarkable rally off of those marks let's.
-- -- a -- if I think that I think are reasonably priced and I think I understand.
-- -- -- I don't I don't attempted high markets at all -- I never give a thought the timing markets I do price.
Individual companies and -- -- something looks attracted to me and they're way way more likely be attractive at 9000 on the Dow the -- thirteen thousand on that I might be -- -- more things.
-- I have I've I have not because I think they're gonna go up next week or next month or next year but because I think I'm bound to make a lot of money.
Over time I just don't know what it's gonna happen so pricing is key obviously.
Prices are somewhat higher now than they -- Paramount higher than were and in early march but.
No I would much rather own equity that I understand and lied to them than have my money and fixed dollar investments because I think.
The -- of the dollar will decline over time.
A lot of people talk about that initial Goldman Sachs investment and whether or not you will consider redeeming.
The existing warrants have you thought -- -- -- or has Goldman trying to consider.
Paying back their initial investment review president it's a good investment for you a little rich for them.
As right but don't tell that -- I'm -- keep that between ourselves back at -- where we're getting about a almost a thousand dollars a minute.
-- stuff investments up.
I I try not to answer the -- by the -- Scalia.
But the -- we will hold the warrants.
And I had -- I I can't say you know for sure what I'll do at any time -- -- in the future to your computer room about -- every.
Every every instinct in my body don't -- in that.
We will want to hold those warrants and solar very close to their expiration date at which time we'll end -- exercising them in all probability.
Now the preferred pages that evident in the warrants are gonna -- -- the money that's exact.
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