Facebook is about to release its IPO, and many investors have undoubtedly taken an interest in the development. However, both Warren Buffett and Charlie Munger, Buffett’s business partner, have declared that they will not be investing in the tech company.
“We never buy into an offering,” Buffett said. “The idea that something coming out…that’s being offered with significant commissions, all kinds of publicity, the seller electing the time to sell, is going to be the best single investment that I can make in the world among thousands of choices is mathematically impossible.”
Munger said:
“I don’t invest in what I don’t understand. And I don’t want to understand Facebook.”
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