It is always worth listening to what Warren Buffett has to say – especially about his mistakes


arren Buffett’s enduring investment principle is to seek value rather than chase fashion. So it is unsurprising that he should warn novice investors not to gamble on the new online trading platforms such as Robinhood.

Answering questions at Berkshire Hathaway’s annual meeting on Saturday he made the point that it is tough to pick winners. Just because an industry was growing did not mean that all the companies in that industry would prosper.

“There’s a lot more to picking stocks than figuring out what will be an incredible industry in the future,” he said. “I just want to tell you that it’s not as easy as it sounds.”

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