Warren Buffett highlights | Recap of Berkshire Hathaway's annual meeting | Charlie Munger calls bitcoin 'disgusting'
| EDITOR'S NOTE
This is a special edition of CNBC's "Weekend Brief." Warren Buffett and Charlie Munger reunited at Berkshire Hathaway's annual shareholder meeting Saturday, and the energetic duo made a wave of headlines on everything from bitcoin to Robinhood to SPACs.
The 90-year-old Buffett addressed his sale of airline stocks last year, which was viewed by many as a mistake since he missed the shares' rapid comeback. The legendary investor said the sale wasn't one of his greatest moments, but he still sees long-term issues with the airline industry and is not buying back in.
Buffett also weighed in on the white-hot SPAC market, saying that the mania won't last forever but it makes the deal-making environment more competitive. "It's a killer…If you put a gun to my head to buy a business in two years, I'd buy one," Buffett said with a laugh. "That won't go on forever, but it's where the money is now and Wall Street goes where the money is."
When it came to bitcoin, 97-year-old Munger didn't hold back. He said he doesn't welcome a currency "that's so useful to kidnappers and extortionists" and he went so far as to say the digital asset is "disgusting and contrary to the interests of civilization."
The two also issued a dire warning against commission-free trading app Robinhood. Buffett said it was feeding off the speculative trading in the stock market and contributing to it. In Munger's words, Robinhood is "god awful" and "deeply wrong."
Read all the highlights below.
THE WEEK AHEAD
MICHAEL SANTOLI'S MARKET COLUMN
YOUR WEEKEND BRIEFING
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