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Finance: Who is Warren Buffett? 16 Views
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Who is Warren Buffett, and how do we get him to give us a loan...?
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Transcript
- 00:00
finance a la shmoop who is Warren Buffett
- 00:06
no that's Warren Buffet that guy always over does it on the crab legs there in [Guy eating a crab leg and throws the scraps back onto the buffet]
- 00:11
Vegas this is Warren Buffett world's most successful investor he bet big on [Buffett talking to Obama]
- 00:17
the insurance industry arguably the greatest legal industry on the planet [Chips being put on the insurance industry]
- 00:21
how does that work while keeping it simple you've bought term life insurance
Full Transcript
- 00:24
you pay 50 bucks a month at age 25 to get half a million dollars in policy for
- 00:30
your family if you die they make Bank that is their policy pays them a half a [Guy collapses and a grave stone appears]
- 00:35
million bucks if you die but you don't usually die it's not each month you keep
- 00:39
going along so this month passes your 50 bucks goes to Warren and co it's called [Grim reaper at the door then he says he is at the wrong house]
- 00:43
Geico and they count it that's it they just stick it in their pocket very high [Someone counting money and then putting it into a jeans pocket]
- 00:48
margin yes they have to leave some money for the million dollar death
- 00:51
that'll happen way down the line or in some random a case where a guy got hit [Guy waiting at a bus stop]
- 00:56
by a bus or something like that so it does happen but generally the insurance [Guy is hit by the bus that arrives]
- 00:59
industry is a very high margin lucrative industry Buffett saw that and bet big on
- 01:04
it he also bet big on the stock market and [Even more chips being placed on the insurance industry and some being put on the stock market]
- 01:07
called the great market swings of our era almost perfectly his style almost
- 01:12
never trade he buys and holds forever ish he has run a massively concentrated
- 01:19
portfolio for a very long time with tens of billions of dollars just in a few [Examples of Buffetts holdings appear]
- 01:24
stocks such that a normal mutual fund of his size might have a thousand names
- 01:28
where he has just a dozen big bets big Brunswick's down there his personal life [Someone bowling]
- 01:33
not so happy rough marriage ignored kids for whom he
- 01:36
has openly apologized for being a lousy father his work was really his family [A worlds best dad mug with worst written on it]
- 01:41
which is kind of sad for the guy who could buy pretty much everything but
- 01:45
didn't here's where he lives in Omaha named after a Peyton Manning NFL signal
- 01:50
call he famously Shops at Walmart spends little money on himself and will end up [Buffett shopping with only a few basics in his basket]
- 01:54
giving away virtually all of his fortune to the Gates Foundation yes that gates [Buffett opening a vault full of money for Bill Gates]
- 01:59
Uncle Bill ever wonder who picks up the dinner tab but when they go out to eat [People arguing over the bill]
- 02:03
anyway Buffett and gates will have merged their fortunes into the cent a
- 02:07
billion zone yes a hundred billion dollars of charitable money [Big piles of money being merged together]
- 02:11
billion and change they're gonna fight to cure cancer malaria aids tuberculosis
- 02:16
bad short games and whatever other awful diseases may arise in the future but
- 02:21
terminal nerdism lands here to stay [Bill Gates in hospital for nerdism]
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GED Social Studies 1.1 Civics and Government