Buffett's Investing Advice: Capitalize on Others' Mistakes.

During the Berkshire Hathaway annual shareholders meeting, Warren Buffett stated that the biggest investing opportunities are "other people doing dumb things." He argued that the competition gives investors opportunities to buy good companies at discount prices. Meanwhile, Charlie Munger was less optimistic about the future of value investing, stating that value investors will have a harder time now that there are so many of them competing for a diminished bunch of opportunities. Buffett and Munger also offered advice for investors, with Buffett praising Ben Graham's book, "The Intelligent Investor," as the foundation of many of his investing principles.