Breakfast Buffet, Monday, May 4

The Oracle Speaks: The annual Berkshire Hathaway shareholder meeting featured lots of words of wisdom from the Sage of Omaha. Buffett said financiers' greed and stupidity contributed to the crisis and he criticized the bank stress tests. Newspapers face "unending losses," he said, while his partner, Charlie Munger, praised Google's "moat." Both spent a lot of time defending their company's dismal year.

A European Supergroup That's Not ABBA: According to the Financial Times, Fiat is planning to combine its own automotive division with Chrysler and GM to form a new publicly traded European company. If the plan, which is expected to be announced today, is successful, it will "create a company with about €80bn ($106bn) of revenues and sales of 6m-7m vehicles a year – second to Toyota, more than Renault/Nissan or Ford Motor, or GM itself, and roughly as many as Volkswagen."

Should Starbucks Become a Bank?: John Gapper thinks the idea makes sense.

Up, Up and Away for Emerging-Market Stocks?: Acclaimed international investor Mark Mobius says we're at a low and that, while gloomy news may hold down prices for a few months longer, he expects a rally by year's end. Related: Asian stocks today hit their highest level since mid-October.

Patents as the New Credit Default Swaps: Andy Grove, the former CEO of chip giant Intel, says today's patent system suffers from a lot of the same problems as the financial system of 2008.