While everything is getting more expensive and inflation is becoming the biggest concern of consumers around the world, the billionaire big investor Warren Buffett gives his own advice to anyone who wants to protect themselves against high prices.
«The best thing you can do is be extremely good at somethingSaid the 91-year-old “Wise of Omaha” speaking at the general meeting of shareholders of Berkshire Hathaway. Buffett cited for example professions such as doctors and lawyers, Saying that “people will give you some of what they make for what you do».
«No one can take away your skills. These are not ‘gnawed’ by inflation. The best investment by far is what makes you better and it is not taxed at allBuffett said, according to CNBC.
Skills, unlike money, are not affected by inflation. If you have skills that are in demand, they will remain in demand for as much as a dollar is worth, he explained.
Buffett gave similar advice in 2009, after the Great Recession caused by the global financial crisis. TheThe billionaire investor had said that “the best you can do is invest in yourself».
The next best thing is to invest in a “amazing company»Where to makes products for which there is a great demandregardless of the course of the dollar, he had said then.
And he cited Cola Cola as an example, saying that even if decades pass, people will want its soft drink, regardless of inflation levels. “The price level does not matter,” because people will always pay for the products they like, Buffett explained.
Money Review
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