Financial Literacy

AUDIENCE MEMBER: And it’s great that you answer our questions. I’m a former teacher. Or I’m a teacher. I shouldn’t say former. Being a former teacher yourself, I see a problem with financial literacy with our future generations. And I’m curious what you think future generations should know and if there’s anything that needs to be in school curriculums to teach younger people financial literacy as we move forward? WARREN BUFFETT: Yeah. I think there’s a problem with financial literacy with our current generation. (Laughter) There’s a — Andy Heyward, who has helped us with the cartoon, has a — will have a — he sold his company last year, but he has a new company. And he will have a program coming out that works on that question. And that I play a very small part in. ABC has a program coming up with a number of well-known personalities in it that will deal with the question of financial literacy. And it’s, you know, it is a tough sell in a world of credit cards and, you know, a world that depends on calculators rather than people sitting down and doing actual arithmetic and all of that, to teach people. But in the end, I think we make progress over time. I mean, I hope our annual reports contribute to that sort of thing. But you’re going to have people doing very foolish things with money. I remember on my honeymoon. I was 21 and my wife was 19. And we drove west. I’d never been west. And we went through Las Vegas. And it was 1952.