Warren Buffett On Exposing Business Frauds And Deception

Warren Buffett is well-known as an investor with a great deal of integrity, and in this video, he explains how he has been able to determine with a great deal of accuracy whether certain businesses are engaging in fraudulent conduct.

Пікірлер: 288

  • @stumac869
    @stumac869 Жыл бұрын

    Never trust a sales man dressed in an expensive suit driving a flash car because you'll end up paying for them.

  • @TimeSurfer206

    @TimeSurfer206

    Жыл бұрын

    "Never trust a man who wears a fake spray tan. If he'll lie to you about something as stupidly obvious as a spray tan, he'll lie to you about anything." My Dad, a member of "The Lost Generation." Who is now an avid tRUMP-licker.

  • @microdesigns2000

    @microdesigns2000

    Жыл бұрын

    My boss came thrashing into his office and I knew something was wrong. When I asked, he asked me a question. "What's wrong with my driving a Cadillac?". His customer disparaged him and thought the quote was too high, claiming he was financing the fancy car by raising prices. Not true, but I understood the guy's point. After that, my boss made a habit of driving the service van to appointments. That worked well.

  • @arthurmoore9488

    @arthurmoore9488

    Жыл бұрын

    @@microdesigns2000 Slightly related, but it's always funny hearing an apocryphal story. A young salesmen blows off a guy in a fishing shirt and jeans driving an dirty pickup truck. Thinking he's just some looser who can never afford the expensive cars. Turns out that guy own the multi-million dollar farm!

  • @roseymalino9855

    @roseymalino9855

    Жыл бұрын

    @The Richest Man In Babylon Same or maybe slight difference. Maybe the word trust is too harsh and the comment should read 'be wary'. but the point is the same which is that his customers finance his lavish living.

  • @roseymalino9855

    @roseymalino9855

    Жыл бұрын

    @The Richest Man In Babylon What's going over heads is your ability to correctly read comments. Learn to do that before you deem yourself qualified to criticize anybody.

  • @bjkarana
    @bjkarana Жыл бұрын

    I love the story about Charlie kindly offering to inflate his claim to $120k from $12k so the insurer couldn't just dismiss him. Absolutely brilliant.

  • @adicamdzic8470

    @adicamdzic8470

    Жыл бұрын

    Wouldn't he be committing obvious fraud. He admits it in the letter.

  • @bjkarana

    @bjkarana

    Жыл бұрын

    @@adicamdzic8470 I'd doubt that, because Munger could rightfully claim loss of productivity and other second order effects from the initial theft which would add up pretty fast. Thoughtful observation though!

  • @adicamdzic8470

    @adicamdzic8470

    Жыл бұрын

    Mmmmh gotcha

  • @walden6272

    @walden6272

    Жыл бұрын

    @@adicamdzic8470 You can always sue for more than owe if someone refuse to pay due to punitive damages in this case the Insurance company is committing fraud by not honoring his claim.

  • @adicamdzic8470

    @adicamdzic8470

    Жыл бұрын

    @@walden6272 thank you

  • @abelardoruiz5544
    @abelardoruiz5544 Жыл бұрын

    1. Use your contacts to get investors... 2. Start a campaign that your company will change the world. 3. Bring celebrity investors 4. Go to TedX or Joe Rogan podcast to talk BS. 5. Start pumping money to your salary and compensations. 6. Buy insane work spaces with company's money. 7. Get a jet and go to parties every week with company's money. 8. The company will tank and you blame the economy or government regulations. 9. Cash your golden parachute.

  • @rozinant1237
    @rozinant1237 Жыл бұрын

    I get this same gut feeling when I watch “promotional” videos by a startup company who are claiming they will revolutionize the building industry with their folding mini homes.

  • @TheLoiteringKid

    @TheLoiteringKid

    Жыл бұрын

    I seen something similar, but the one I came across they build these lovely folding homes, could ship the equivalent of quad 16 foot mobile home in a single trailer, but never bothered to make the thing meet the basic standard building code.

  • @robbie_

    @robbie_

    Жыл бұрын

    One day one of them will get it right though.

  • @stephenoshaughnessy2279

    @stephenoshaughnessy2279

    Жыл бұрын

    I'm currently revolutionizing the transportation business with custom buggies -- horse not included. Now's you time to make your money work for you.

  • @tedfisk1211
    @tedfisk1211 Жыл бұрын

    In my opinion, all business people or those looking to get into business should watch all the videos of Buffett and Munger. Quite educational.

  • @yorktown99
    @yorktown99 Жыл бұрын

    Warren & Charlie are a great comedy duo.

  • @titrecords2294

    @titrecords2294

    2 ай бұрын

    It looks like stand up comedy for investment 😂

  • @ddicin7759
    @ddicin7759 Жыл бұрын

    Too Good to be True == RUN ! Nothing's easy in life; people who peddle schemes that bypass that fundamental fact appeal to our need to get to the finish line unscathed by disappointment.

  • @rybolow

    @rybolow

    Жыл бұрын

    Proverbs in the bible: Make Wealth Slowly". If a person in a hurry to become wealthy quickly, often falls for the schemes.

  • @MagnusAnand
    @MagnusAnand Жыл бұрын

    It’s amazing how lucid they both are at that age.

  • @eddiemunster8634

    @eddiemunster8634

    Жыл бұрын

    As opposed to our President and Vice President? I don't know what her excuse is!

  • @robkunkel8833

    @robkunkel8833

    Жыл бұрын

    Keep watching, eddie. You may learn something. Putin and your Mr. Trump are the outliers; not our current leaders.

  • @rodrigorodriguez509

    @rodrigorodriguez509

    Жыл бұрын

    I work with accountants and attorneys, they stay working into old age and stay pretty Sharp since they're using their faculties instead of decaying in front of the TV

  • @Kid_Ikaris

    @Kid_Ikaris

    Жыл бұрын

    The adrenochrome helps 🙂

  • @RearAdmiralTootToot

    @RearAdmiralTootToot

    Жыл бұрын

    @@eddiemunster8634 a lifetime of lying causes the mind to rot quickly.

  • @miked8227
    @miked8227 Жыл бұрын

    I worked for a very big successful company that decided to go public, prior to going public they temporarily changed their very successful way of managing the company to soften up the numbers. Suddenly it was a night n day comparison until they eventually had their IPO. Awhile after the stock was issued, they went back to their efficient ways of managing . The term “integrity” was a convenient term for the management and was so important to continue one’s employment there, which it should be. Many times a family man or woman was terminated under the broad brush of “lack of integrity”. Even the biggest “honest” companies in the world will “confuse” the public.

  • @mateuszmattias
    @mateuszmattias Жыл бұрын

    I once saw a secretly filmed movie clip from an event arranged by some hyped startup company, and at one time there was a fairly young woman (not Elizabeth Holmes, this was in the 90s) who stood on stage yelling like some cheerleader, getting people worked up like a preacher at an extatic evangelical church meeting. I remember thinking "does anybody really buy into this sh-t" but the thing is that they do, and had I been in that room maybe I would have been drawn into that extatic feel as well. It's very human and very disturbing.

  • @chrisj8662

    @chrisj8662

    Жыл бұрын

    I still can't believe Elizabeth Holmes actually got Warren to invest in her.

  • @lamusica1592

    @lamusica1592

    Жыл бұрын

    Sounds like an MLM , pyramid schemes

  • @tubergonz

    @tubergonz

    Жыл бұрын

    and Fascism

  • @catherinesanchez1185

    @catherinesanchez1185

    Жыл бұрын

    Hey , it's been working for churches so why not?

  • @Gcock

    @Gcock

    4 ай бұрын

    ​@@catherinesanchez1185The true church; given to us by Christ; in no way shape or form does this. All human beings are called to worship in reverence. If we fail to worship the only One worthy; then we will worship ourselves and others. Scam culture. Hoe culture. And many others

  • @Little-bird-told-me
    @Little-bird-told-me Жыл бұрын

    Trust is like virginity, once its lost, it can never be restored

  • @raccoon874

    @raccoon874

    Жыл бұрын

    unless you become a 'born again' type loser

  • @g0679

    @g0679

    Жыл бұрын

    Au contraire, one can become a reclassified virgin after a year of abstinence.

  • @raccoon874

    @raccoon874

    Жыл бұрын

    @@g0679 no, I think they get classified as "horny masturbator"

  • @gumshoe7237

    @gumshoe7237

    Жыл бұрын

    @@g0679 on what planet does that make sense to you ? Once you've had it the first time , that's that.. smh

  • @st0a

    @st0a

    2 ай бұрын

    ​@@gumshoe7237Probably a delusional woman who was careless with her most precious possession. Truly sad!

  • @chipper442
    @chipper442 Жыл бұрын

    Anyone else get the two old guys in the balcony on the muppets vibe with these two? Great clips.

  • @catherinesanchez1185

    @catherinesanchez1185

    Жыл бұрын

    YES!!! I knew they reminded me of someone!!

  • @damham5689
    @damham5689 Жыл бұрын

    I like Warren but its fascinating to hear him talk about insurance companies denying legit claims, when the insurance companies he owns do exactly that all the time

  • @seansingh8862
    @seansingh8862 Жыл бұрын

    Avoiding frauds is the elephant in the room when it comes to investing. I've beaten the my local total return index by an average of 7.7%p.a. over the past eighteen years. I'd estimate that I'd have added at least 4-5%p.a. to that by simply avoiding situations where crooks take your money! It's happened sooooo many times, I'm convinced that at least 30-40% of apparent bargains on the stock market are actually just instances where the market has cottoned onto the fact that there is something shady going on.

  • @tongobong1

    @tongobong1

    Жыл бұрын

    Exactly. When I was less experienced I lost so much on those bargain shares that my return was around 0% for first 10 years.

  • @sarnosidiq6212

    @sarnosidiq6212

    Жыл бұрын

    @@tongobong1 you are in good shape, most trader loose in their first years

  • @tongobong1

    @tongobong1

    Жыл бұрын

    @@sarnosidiq6212 yes I know.

  • @Ken-er9cq
    @Ken-er9cq Жыл бұрын

    Insurance is a complex business. Each year you take in the premiums, people make claims and you pay out claims. Looks easy, but the payout of claims is often several years into the future, and the claims may also be made in the future. So you need to be able to predict how many claims will actually be made, how successful they will be and the size of each payout. Underestimate the future payouts and your insurance company looks like it is doing brilliantly. Of course only until someone notices that your estimates are wrong. Then it goes bad fast.

  • @walden6272
    @walden6272 Жыл бұрын

    These two are the only investors that give good advices while others are trying to scam you into buying their pumped up stocks or cryptos so they can get rich off of you.

  • @robertagren9360

    @robertagren9360

    Жыл бұрын

    The best deal would be to buy stocks at $0.00 because it's the market value.

  • @jefflittle8913
    @jefflittle8913 Жыл бұрын

    That bit about having to pay executive bonuses in cash is real. Companies have been using that very "profitably" for years. It's not really that you are paying extra for wall street companies that do that at this point so much as that you can get companies that don't do that at a discount.

  • @brianjensen7977
    @brianjensen7977 Жыл бұрын

    To sum the video up, people have tells. Very informative...

  • @TheLookingOne
    @TheLookingOne Жыл бұрын

    The time to already be worrying is when they say there's nothing to worry about

  • @sandeepvk
    @sandeepvk Жыл бұрын

    I once went to this _startup_ meet where founders came up with proposition of future projected revenues at upwards of 1$ Trillion dollars ! People want to use superlatives to emblsh themseleves.

  • @polarper8165
    @polarper8165 Жыл бұрын

    Thank you for sharing

  • @fugu4163
    @fugu4163 Жыл бұрын

    Golden Sachs and their affiliates always makes me suspicious.

  • @anotherroady6234

    @anotherroady6234

    Жыл бұрын

    No shit. Everyone in that organization is slimy.

  • @DivineMisterAdVentures
    @DivineMisterAdVentures Жыл бұрын

    5:00m Reflects on 1960's response to denial of payment for an indemnity. This is what I've been doing subconsciously to 'run up the bill' with mixed, undetermined results in my personal battle with over-the-top Corporate and Business Law Fraudsters.

  • @davidfleischer4407
    @davidfleischer4407 Жыл бұрын

    One way of determining if someone is right, is if the premise of the argument leads logically to he conclusion. Even before going into the details this video states that according to Buffet there is a common thread to all frauds, but in reality he presents several disparate narratives

  • @BlueBeeThemeMusic

    @BlueBeeThemeMusic

    Жыл бұрын

    If something looks too good to be true, it is false. That's the common thread. Titles on KZread are not always formed by the speaker ... Editors make mistakes.

  • @diddy103177

    @diddy103177

    6 ай бұрын

    @davidfleischer 4407 I thought Buffet was actually saying that there’s a common set of cues he looks for and notices with fraudulent pitch men, versus just a single cue. Also, he obviously can’t state them publicly because it would tip off future fraudsters he may have pitching investment ideas to him. Remember, good fraudster watches and studies their target victim so they would be watching these videos too. So I believe Buffet’s main point is that in addition to there being a set of cues to look for, you MUST take time to learn them from experience and once learned, they’re reliable for helping to judge people’s character.

  • @davidfleischer4407

    @davidfleischer4407

    6 ай бұрын

    @@diddy103177 as explained in the other reply, the video from Buffet starts with a title that does not reflect the content of the video. The title says that all fraudsters behave the same way, but your observation is also that fraudsters are adaptable. So in the end the way Mr. Buffet is presented in this video is the fraud

  • @xpat73
    @xpat73 Жыл бұрын

    Well he cut Wells Fargo loose.

  • @craigwillms61

    @craigwillms61

    Жыл бұрын

    me too...

  • @juneyang1400
    @juneyang1400 Жыл бұрын

    “Too good to be true.”

  • @meowmeow1733
    @meowmeow1733 Жыл бұрын

    Old Statler and Waldorf at it again 😁

  • @BlueBeeThemeMusic

    @BlueBeeThemeMusic

    Жыл бұрын

    Old Ragged Cat Thing at it again.

  • @AnvilDragon
    @AnvilDragon Жыл бұрын

    Always have to watch the carpet baggers that will sell their bill of goods to the board. They'll force out key people that built the company, eliminate R&D other than on paper, reduce maintenance below minimums, accept a lower quality of goods and service, add quantity sales incentives to reduce inventory, and layer in short term performance bonuses to pocket as much cash as possible. In about two years the company is faltering, customers are pissed, market share has been lost, no next product was developed to stay viable, and the carpet baggers are moving to their next company. Why just look at the way they turned their last three companies around and how poorly they did without their firm management hand. So yes, look at their management. Look where they have been and did they leave wreckage, destroying promising company after company in their wake. Odd thing is that college business classes teach them how to do it and, in fairly unethical "ethics" classes, how not to go to jail while doing it. Basically how to be a toxic corporate leach for fun and profit. A how to "get rich" rather than how to grow a healthy and profitable company. More: How to fake it until you can cash out.

  • @marccox8977

    @marccox8977

    Жыл бұрын

    Exactly How Carl Icahn got rich New York City, U.S. In the 1980s, Icahn developed a reputation as a "corporate raider" after profiting from the hostile takeover and asset stripping of Trans World Airlines. Icahn is on the Forbes 400 and has a net worth of approximately $17 billion to $24 billion.

  • @garygerard4290
    @garygerard4290 Жыл бұрын

    People will try to tell you who they are, 'believe them.

  • @rangedfighter
    @rangedfighter Жыл бұрын

    Does anyone know where these talks are given? There are so many videos of him in a very similiar setting with his business partner.

  • @mottykytu

    @mottykytu

    Жыл бұрын

    Many year of Berkshire shareholder Annual Metting!

  • @ricgunn1439

    @ricgunn1439

    Жыл бұрын

    AGM

  • @kotamrajuprasad2742
    @kotamrajuprasad2742 Жыл бұрын

    Intuition is highest form of intelligence..

  • @revydmat
    @revydmat Жыл бұрын

    @2:59 doing their best Statler & Waldrof act

  • @stevengreidinger8295
    @stevengreidinger8295 Жыл бұрын

    Buffett wants to teach us but feels forced to answer these questions in purposefully vague ways. If he sees something, he should be able to say something without fearing consequences. We have some flaws in our system, which he believes prevent him from exposing fraud. Note also that he has more data about fraud investigation than ordinary people because the banks and insurance companies he invests in routinely face thousands of fraudulent claims and loan applications every year. It's a shame he believes he cannot share these lessons.

  • @steveburke7675

    @steveburke7675

    Жыл бұрын

    ...in the US you must be careful what you say and how you say it...even if it's the truth.

  • @craigwillms61

    @craigwillms61

    Жыл бұрын

    Buffett seems worried to broadcast to future fraudsters how he detects fraud for fear they will change their approach - and he said as much. But are you going to share your wisdom or not? You are not much good to anyone Warren, except your heirs, if you're afraid to teach.

  • @lance8859
    @lance8859 Жыл бұрын

    Insurance is a scam, at least how it's setup. That's why these guys love that business.

  • @TimeSurfer206
    @TimeSurfer206 Жыл бұрын

    The example you used is the Big Business variant of when a boss asked me to work for cash, off the books, "so you can make more money while drawing Unemployment, too."

  • @ricgunn1439

    @ricgunn1439

    Жыл бұрын

    But you'll be the one in jail for fraud😃

  • @quengmingmeow
    @quengmingmeow Жыл бұрын

    Anyone that uses the term “game changer” might not be a fraud, but they certainly are either deluded or knowingly selling BS. “Game Changer” is a verbal tell…..walk away every time.

  • @Dash_023
    @Dash_023 Жыл бұрын

    Love the $120k $12k story!

  • @savaun2
    @savaun2 Жыл бұрын

    I hope and want Warren Buffett too live FOREVER 👍🙌

  • @oxydoxxo

    @oxydoxxo

    Жыл бұрын

    Kind of setting yourself up for disappointment there mate

  • @miked8227

    @miked8227

    Жыл бұрын

    Well if you apply his lessons and advice, in a way he will live on. Not sure anybody is gonna ever quote or apply anything I’ve ever said.😂

  • @RandalColling
    @RandalColling Жыл бұрын

    In the Real Estate World the fraudulent "fluff" is called "Pro-Forma" The agent claims the property income to be much higher than it really is. They want the buyer to pay based on these fabricated numbers.

  • @AverageAngel
    @AverageAngel Жыл бұрын

    What is the reason people fall for frauds, particularly repeatedly?

  • @pietergeerkens6324

    @pietergeerkens6324

    Жыл бұрын

    There is an old saying that an honest man is hard to con; and a dishonest one cons himself. Warren and Charlie are hard to con precisely because they are themselves honest.

  • @AverageAngel

    @AverageAngel

    Жыл бұрын

    @@pietergeerkens6324 a dishonest man cons himself, I've actually never heard of that myself, it makes sense. The people who I've known who repeatedly fall for frauds or suspicious people do not seem to be of the highest character either

  • @internziko
    @internziko Жыл бұрын

    The puppets on the balcony of the muppet show really made something of themselves.

  • @UnpopularOpinion314

    @UnpopularOpinion314

    Жыл бұрын

    I didn’t see it until you said it but now I can’t unsee it

  • @tvoesworld5725
    @tvoesworld5725 Жыл бұрын

    How about ask people they've previously done business with. Frauds will always avoid this and once you see the hesitation that is the moment you walk away.

  • @lisalove6327
    @lisalove6327 Жыл бұрын

    It's never that easy .... Indicator 1

  • @rodrigorodriguez509

    @rodrigorodriguez509

    Жыл бұрын

    No it's usually pretty easy. I'm a CPA and first I visit the bathroom. The soap and towels are empty, the people are Cheapskates. If they claim to be making good money too, they're lying

  • @GhostOnTheHalfShell
    @GhostOnTheHalfShell Жыл бұрын

    Wells Fargo is a notable failure

  • @arcanondrum6543

    @arcanondrum6543

    Жыл бұрын

    Indeed. It got a bailout after hopping on the CountryWide Bank 2nd Mortgage media full-press blitz. After Taxpayers (that's; "not Warren Buffet") bailed out Wells Fargo Bank, Buffet used his 40% share in that Bank to start buying that Bank's foreclosed homes as a private citizen with a _different_ corporation. Berkshire Hathaway Real Estate is now, definitely in the green and even a landlord in some cases. Berkshire Hathaway Media Group (since renamed) forgot to report that. _"Watch out for Frauds."_ Thanks, successful Warren Buffet.

  • @navajyotichetia8968
    @navajyotichetia8968 Жыл бұрын

    Its best to decide by a coin toss

  • @u.v.s.5583

    @u.v.s.5583

    Жыл бұрын

    I know the game painfully well. Tops, you lose, tails, you lose.

  • @robertworel5791
    @robertworel5791 Жыл бұрын

    It's safe to say charlie was not himself for a short time there.

  • @robertworel5791

    @robertworel5791

    Жыл бұрын

    I wish good health on charlie munger. God bless.

  • @BlueBeeThemeMusic

    @BlueBeeThemeMusic

    Жыл бұрын

    @@robertworel5791 Yes, well you would say that ... now.

  • @robertworel5791

    @robertworel5791

    Жыл бұрын

    @@BlueBeeThemeMusic I wish good health On most people. It's a common sense thoughts.

  • @BlueBeeThemeMusic

    @BlueBeeThemeMusic

    Жыл бұрын

    @@robertworel5791 LOL. It is. We die like flies anyway.

  • @trancendental5373
    @trancendental5373 Жыл бұрын

    Amazing how insurance companies cut you a check when you're rich and powerful. Thanks for the super useful information!!

  • @ryanburr2164

    @ryanburr2164

    Жыл бұрын

    Did you listen to the story

  • @justinwyatt8
    @justinwyatt8 Жыл бұрын

    If all frauds have the same pattern, then what pattern does success have?

  • @u.v.s.5583

    @u.v.s.5583

    Жыл бұрын

    winners win, that's the pattern. If you want to pick a winner, pick a winner! And, I do not mean simply pick the winner of the past. You need to pick the winner for the next period of time.

  • @justinwyatt8

    @justinwyatt8

    Жыл бұрын

    @@u.v.s.5583 you make no sense

  • @u.v.s.5583

    @u.v.s.5583

    Жыл бұрын

    @@justinwyatt8 Thank you! Seriously, success has no pattern, that's what makes succeeding on massive scale difficult.

  • @justinwyatt8

    @justinwyatt8

    Жыл бұрын

    @@u.v.s.5583 if there is a pattern to success, it would be incarnation. Making something real and embodied from a single idea.

  • @MrVisde

    @MrVisde

    Жыл бұрын

    I think they’ve talked about this. It’s about the people they’re investing in. Do they know the business and are they passionate about it? Or are they looking for a cash grab and to step away after a payday? The businesses they invest in, they founders tend to reinvest the capital to scale the business. They know what they’re doing and stick around because they love the business.

  • @ilovebrandnewcarpets
    @ilovebrandnewcarpets3 ай бұрын

    RIP Charlie 👑

  • @johnkraus4
    @johnkraus4 Жыл бұрын

    Hey guys, what about the old folks getting bullied into buying Kirby vacuum cleaners?

  • @FreemonSandlewould
    @FreemonSandlewould Жыл бұрын

    Does that include Theranos? Could have saved us some trouble if he spotted that?

  • @soulwailer3394

    @soulwailer3394

    Жыл бұрын

    Did Berkshire invest in Theranos?

  • @1981lashlarue

    @1981lashlarue

    Жыл бұрын

    Anybody that couldn't see through Theranos from the beginning...

  • @karlguntherfragstein4225
    @karlguntherfragstein42253 ай бұрын

    What about the Manufactured Home industries. Some manufacturers are building Noncompliance Manufactured Homes that don’t comply with the Federal Construction Safety Standards. Should the manufacturers that don’t comply to the Federal Construction Standards be held accountable for CORRUPTION?

  • @phgamer4393
    @phgamer4393Ай бұрын

    im kinda curious of the people they filtered out. if one was actually succesful and not a scam.

  • @pgress1867
    @pgress1867 Жыл бұрын

    Sehr geil auch die schwachköpfige Werbung im Vorfeld des Videos… Fraud.

  • @LIONTAMER3D
    @LIONTAMER3D Жыл бұрын

    The two old guys on the balcony on The Muppet Show 0.o

  • @monaoconnell5650
    @monaoconnell5650 Жыл бұрын

    I wonder if Warren Buffet ever considers the possibility that he's been blessed? I have known smart, hard-working people, who are poor.

  • @soulwailer3394

    @soulwailer3394

    Жыл бұрын

    He uses the word "lucky" a lot.

  • @monaoconnell5650

    @monaoconnell5650

    Жыл бұрын

    @@soulwailer3394 Oh, I didn't notice that. I thought he used the word, "lucky" once.

  • @bridgecross
    @bridgecross3 ай бұрын

    "Easy money" "Like taking candy from a baby" lack of work ethic means trouble down the line.

  • @jabadoodle
    @jabadoodle Жыл бұрын

    So Warren Buffet and Charlie auditioned for Fargo as Wade Gustafson and Stan Grossman??

  • @coumadin75
    @coumadin75 Жыл бұрын

    This is funny

  • @mulemule
    @mulemule3 ай бұрын

    *Where was **_Madoff's_** Fidelity Bond?* *Where was **_Lehman Brothers'_** Fidelity Bond?* *Where was **_Icahn Enterprise's_** Fidelity Bond?* *Where was **_Salmon Brothers'_** Fidelity Bond?* *Where was **_AIG's_** Fidelity Bond?* *Where was **_Deutsche Bank's_** Fidelity Bond?* *Where was **_Ivan Boesky's_** Fidelity Bond?* *Where was **_Michale Milen's_** Fidelity Bond?* *Where was **_Silicon Valley Bank's_** Fidelity Bond?* *Where was **_Lincoln Savings and Loan's_** Fidelity Bond?* *Where was **_Satyam's_** Fidelity Bond?* *Where was **_SAC Capitol's_** Fidelity Bond?* *Where was **_Wells Fargo's_** Fidelity Bond?* *Where was **_Long-Term Capitol Management's_** Fidelity Bond?* *Where was **_Bear Stearns'_** Fidelity Bond?* *Where was **_Tiger Funds'_** Fidelity Bond?* *Where was **_Marin Capitol's_** Fidelity Bond?* *Where was **_Dewan Housing Finance's_** Fidelity Bond?* *Where was **_Adani Group's_** Fidelity Bond?* *Where was **_Archegos Capital Management's_** Fidelity Bond?* *Where was **_Washington Mutual's_** Fidelity Bond?* *Where was **_Merrill Lynch's_** Fidelity Bond?*

  • @monaoconnell5650
    @monaoconnell5650 Жыл бұрын

    The accounting games we see every day as we look at the stock market is incredible. It has to change.

  • @fazole

    @fazole

    Жыл бұрын

    Not as long as "money is free speech". They got away much richer and clean after 2008 and Barry told us "Technically, they didn't do anything illegal". Of course Bush and Barry BOTH in on it.

  • @cisium1184
    @cisium1184 Жыл бұрын

    This video could have been three minutes long.

  • @guineapigzed
    @guineapigzed Жыл бұрын

    Great example of what not to become.

  • @lukespector5550
    @lukespector5550 Жыл бұрын

    They owned Kirby vacuum division of The Scott Fetzer Company..........

  • @floxy20
    @floxy20 Жыл бұрын

    Insurance against employee stealing money? That's a new one on me. It seems a lot easier to pull of than, say, arson.

  • @joshuaturnage5243

    @joshuaturnage5243

    Жыл бұрын

    Walmart was caught putting insurance policies on its senior citizen employees because they were counting on them dying soon and the company Walmart outlasting them. Talk about stealing.

  • @MrVisde

    @MrVisde

    Жыл бұрын

    Theft is pretty common for insurance policies. Should be a very straightforward claim. The company in the story was pulling obvious shenanigans.

  • @ytugtbk
    @ytugtbk Жыл бұрын

    What a unique individual. An American of acclaim who actually deserves the acclaim. A rarity these days. Guess that's the Midwest of old coming through.

  • @plumbandsquare1
    @plumbandsquare1 Жыл бұрын

    Sounds like he's talking about bitcoin.

  • @steveburke7675
    @steveburke7675 Жыл бұрын

    One of the few that looked at, but declined to invest in Theranos.

  • @rodrigorodriguez509

    @rodrigorodriguez509

    Жыл бұрын

    Nah there were hundreds of millions, it was a public offering. Anyone with two years of college in life sciences would know theranos was totally impossible. The whole thing was an inside job

  • @JO-mg6xc
    @JO-mg6xc Жыл бұрын

    Warren could not explain it….

  • @iLumberjack
    @iLumberjack Жыл бұрын

    These gentlemen remind me of Statler and Waldorf from the muppets.

  • @leonrobinson8180

    @leonrobinson8180

    Жыл бұрын

    Haven't heard that one before 🙄

  • @Diego-tm3dj
    @Diego-tm3dj Жыл бұрын

    Nice, and he is partner with Jorge Paulo Lemman, Sicupira and Hermann😂😂😂

  • @serafinacosta7118

    @serafinacosta7118

    Жыл бұрын

    Three Frauds, these partners. The odd part is , they ‘ve shown their true colors when they bought Anheuser Busch. A company with a mediocre product , tall order upon seizing it was to trim payroll massively. No word about improving a dog product , in expanding new beers. Just cut costs. This so happened way before they bough J.Heinz. And the worse part was, they claimed to have these tactics learned from their American Peers. Their arrogance was off the charts. This not being a footnote print in the Brazilian Business Press. It was on the page of the Wall Street Journal. Now they are back again, this time around , for defrauding Brazilian investors and lenders. On the tune of billions with one of their subsidiaries. Bernie Ebers couldn’t done better.

  • @untouchable360x
    @untouchable360x Жыл бұрын

    "Behind every great fortune lies a great crime."

  • @dat581

    @dat581

    Жыл бұрын

    Nah. There is plenty of jealousy though.

  • @cayetanosoler3432
    @cayetanosoler3432 Жыл бұрын

    still chasing the dollar at their end of life .

  • @BlueBeeThemeMusic

    @BlueBeeThemeMusic

    Жыл бұрын

    The best time.

  • @frederickbuhr8765
    @frederickbuhr8765 Жыл бұрын

    The Statler and Waldorf of capitalism...

  • @Schaneification
    @Schaneification Жыл бұрын

    The GOLDEN RULE TO BEING RICH ! THERE NO LAW AGAIST STEALING FOR THE POOR !

  • @Schaneification

    @Schaneification

    Жыл бұрын

    @The Richest Man In Babylon Easy look at the tax LAWS

  • @maxfastest
    @maxfastest Жыл бұрын

    Buffet is no angel either !

  • @unglaubichuberlieber8048
    @unglaubichuberlieber8048 Жыл бұрын

    and has buffett look in his mirror LATELY OR EVER LOOKED IN his mirror ???

  • @sunnindawg
    @sunnindawg5 күн бұрын

    Did these guys ever pay dividends in their funds?

  • @Novastar.SaberCombat
    @Novastar.SaberCombat Жыл бұрын

    90% of humans are pretty much hot garbage. If you assume you're NOT likely to meet the relatively good 10%, then it's a lot easier to hang onto your money, sanity, and most importantly... your TIME.

  • @prosodiclearning
    @prosodiclearning Жыл бұрын

    Statler and Waldorf (Muppets) just watching the show

  • @kaijusushi8165
    @kaijusushi8165 Жыл бұрын

    I see that Warren brought his sleestak to the shareholder's meeting again . . .

  • @davidpowell3347
    @davidpowell3347 Жыл бұрын

    I wonder if Mr. Buffett has studied/critiqued the Packard purchase of Studebaker which occurred,I believe,in 1954 and greatly contributed to the extinction of the Packard Motor Car brand?

  • @ricgunn1439

    @ricgunn1439

    Жыл бұрын

    Studebaker was gone in about 7 years.

  • @PacoOtis
    @PacoOtis Жыл бұрын

    Uhmm? A rather discombobulated bit of babbling! Best of luck!

  • @johnd7435
    @johnd7435 Жыл бұрын

    What happened in 2008 when so many lost their houses (that should have been covered by the banks)? Many were bought by Berkshire, who made out like bandits.

  • @hauntedhouse7827

    @hauntedhouse7827

    Жыл бұрын

    Yes but did they cause the crash or simply take advantage of it?

  • @johnd7435

    @johnd7435

    Жыл бұрын

    @@hauntedhouse7827 they took advantage; my point is, that why were the banks allowed to call in the loans, when their own flakey investments were the cause !?

  • @hauntedhouse7827

    @hauntedhouse7827

    Жыл бұрын

    @@johnd7435 The president at the time was George Bush Jr. An incompetent little man so far in the bank's back pocket he could probably have doubled as a butt plug. He made the disastrous decision to bail out the banks then give the bankers immunity from prosecution rather than helping the struggling homeowners. However the homeowners themselves were not completely without blame, they did get into loans without doing their due diligence and forgetting that all important rule, if it sounds too good to be true it probably is. That is how i would put it anyway.

  • @hypatia4754
    @hypatia4754 Жыл бұрын

    Pay your taxes, man.

  • @serafinacosta7118

    @serafinacosta7118

    Жыл бұрын

    Not the kind of advice his tax attorney would give him.

  • @christopherchris8375
    @christopherchris8375 Жыл бұрын

    Is that Dr Pepper 🥫🥫

  • @robertfarr9186
    @robertfarr9186 Жыл бұрын

    What a non answer… warren just kept rambling on the same two sentences until he handed it off to his buddy who gives an obviously flippant answer.

  • @altcoin5631
    @altcoin5631 Жыл бұрын

    pot calling the kettle black

  • @mattski1979
    @mattski1979 Жыл бұрын

    Is this from the 90's?

  • @BlueBeeThemeMusic

    @BlueBeeThemeMusic

    Жыл бұрын

    It's from 30 years...

  • @chadchadchadchadchad

    @chadchadchadchadchad

    Жыл бұрын

    Yes, they are both well into their 90s

  • @eileenahern-ku9nx

    @eileenahern-ku9nx

    2 ай бұрын

    30 years ago- they look 90 in the video not 60.❤

  • @jeffblackard9753
    @jeffblackard9753 Жыл бұрын

    They vote democrat? -mardoff-democrat -Sam bankman-Fried-ftx-democrat On the other hand Savings and loans-Charles keeting-devour republican

  • @SevenDeMagnus
    @SevenDeMagnus Жыл бұрын

    Yup, it's all about deep pattern recognition. God bless, Rev. 21:4

  • @4lugan
    @4lugan Жыл бұрын

    Means bitcoin jajaj

  • @theresaward118
    @theresaward1182 ай бұрын

    Like schumer pelosi

  • @virgilpalmer2427
    @virgilpalmer2427 Жыл бұрын

    Ask ole Warren why he can't keep employees on his railroad... they're quitting faster than than can hire them because he treats his workers like animals..

  • @ricgunn1439

    @ricgunn1439

    Жыл бұрын

    That's in the RR here too.🇨🇦

  • @michaelbryant2071

    @michaelbryant2071

    11 ай бұрын

    Only time l have heard Buffet slandered on Social Media. I assume you have proof of his despicable deeds beyond anecdotal bulls**t. Waiting patiently.

  • @catwrangler7907

    @catwrangler7907

    9 ай бұрын

    Bs

  • @michaelmcinnis9538

    @michaelmcinnis9538

    8 ай бұрын

    That's every business my friend

  • @randallblake1213
    @randallblake1213 Жыл бұрын

    Mildly entertaining if you just want to listen to Warren Buffet, but no useful information.

  • @serafinacosta7118

    @serafinacosta7118

    Жыл бұрын

    Nuggets are in the comments. It’s like going to a town hall meeting. The idiot / con artist out front might be useless , but the folk sitting around you , might have a few gems. People love to follow saviors, leaders . But there are always the non satisfied attendees. You have to seize the crowd. You never glean anything valuable with keynote speakers. Not make hay in networking. And seek to the elders. They are often ignored. But their wisdom.

  • @serafinacosta7118

    @serafinacosta7118

    Жыл бұрын

    No gimmies. Folks at the top don’t give the store away.

  • @surujpaulramlogan8464
    @surujpaulramlogan8464 Жыл бұрын

    If she can't take care of me for 1 year 👁doesn't need you

  • @youtbe999
    @youtbe999 Жыл бұрын

    They said nothing.

  • @vaughngaminghd

    @vaughngaminghd

    Жыл бұрын

    Maybe you heard nothing (there's a difference)

  • @youtbe999

    @youtbe999

    Жыл бұрын

    @@vaughngaminghd They talk a lot and go in circles. I gained nothing of value other than entertainment in the "exposing business frauds and deceptions" from all that was said.

  • @robkunkel8833
    @robkunkel8833 Жыл бұрын

    Frankly, this was not a very interesting or informative video. What did we learn? “This is not an elegant business.”

  • @BlueBeeThemeMusic

    @BlueBeeThemeMusic

    Жыл бұрын

    KZread is not a forum to learn investment from ... it's 7 Ways to Comb a Baby's Hair ...

  • @terminalreset7659

    @terminalreset7659

    Жыл бұрын

    What did we learn? Rich people have ways to stick it to poor people so that it seems 'folksy' then they do. But when you try to do that to THEM, it's fraud.

  • @nancysmith2389
    @nancysmith2389 Жыл бұрын

    First of all they audit their books. A lot of stuff comes out when that happens.

  • @nonyadamnbusiness9887
    @nonyadamnbusiness9887 Жыл бұрын

    I guessing these two would not invest money in some weird kid's offshore imaginary money exchange.