Ann: Chief Executive Officer and Managing Director Appointment, page-66

Warren Buffett says you shouldn’t buy a stock unless you’d be comfortable holding it if the stock market was closed for 10 years after buying.

He also says one should buy companies with high ROIC, predictable earnings, and in an industry one understands.

He wouldn’t invest in a junior biotech (and never has) with no earnings, and a coin flip as to whether they’ll ever have earnings, in an industry that one virtually needs a medical degree to fully understand.

The linking of ANP with something that Buffett would even consider to invest in is a fairy tale.