Warren Buffett MBA Talk - Part 10

[vividinthehouse]

People respect him as a great investor, but I respect him as a great man.

He has the integrity to manage a business, humble personality, and he is living a simple life even with all the wealth that he has.

He has donated billions of dollars to charities and he has also stated that he will give away 99% of his wealth when he dies. He also doesn't live a luxurious life and I know that because he lives in a small house with old cars that are over 10 years old. He is my role-model forever.

[DeGammel]

What a guy, really fan-tas-tic. What a genius.

One thing I know for sure: You're really wealthy if you have the things you can't buy....

[tsbrownie]

I like his view on social justice.

[dawhooper69]

i disagree with him here. we're lucky to have a chance to be in america and have the opportunity to suceed, but we're not lucky if we end up succeeding. it is through hard work. you can tell this man has spent the majority of his life working hard and learning hard. he even talks about it. so i'm not sure why hes suddenly talking about being lucky.

[srvgravesdime]

@dawhooper69 It is fairly obvious that most Americans have the luck of the draw compared to Nigerians.

[dawhooper69]

@srvgravesdime reading comprehension is your friend. we're lucky to be in america and not in nigeria. but that wasnt the point i was making. re-read my paragraph

[srvgravesdime]

@dawhooper69 Listening comprehension is your friend. You're lucky to be in America whether you're succesful or not. Similarly, you're a hell of a lot more lucky to be succesful in America, where people like Buffett (I'm sure many of his associates would agree) lose their fortunes daily. Sure Buffet's worked his ass off, but it doesn't mean he wasn't lucky as hell. Can you say that someone who played the lottery every day of their lives is lucky to win, or that they worked for it?

[VJWU]

@dawhooper69 Because even if you are born in the right country, it is luck what your IQ is...what your talents are...what your weaknesses are...how you were raised...etc etc. There's a lot of hard working people who are not rich.

[rebeccatolstoy]

fabulous once again!!! people like Mr buffett sure keeps once passion in life alive as it is ok to be who we are. :))))

rock on Warren!!!!

[rgoodwinau]

Great life wisdom in these 10 parts. Thanks for sharing.

[cardinalfire999]

We're pretty lucky too Mr Buffett, especially seeing how this talk of yours is on youtube for free, it's value is way beyond any financial advice i've had.

[superashish1990]

two things that i noticed is that no. of views after every part lept on decreasing and another thing is that coke can cut its advertisment cost coz warren buffett is a walking talking billboard of coke....................

[jtoler39]

@superashish1990 Wouldn't you be if you owned 17 percent?

[49fiori]

the first 2.5 minutes of this video are the most important 2.5 minutes we will probably ever hear regarding investments.

[49fiori]

He is so smart, if you find a year old Porsche 911 with 5k miles for $60,000 and new one let's say sells for $105k, you would run to buy this car, you would drive it for 2 years and spend around $15k on insurance, gas, service, garage, etc... and sell it for $45k after 2 years. You would lose $30,000 with that car, half of what you invested, and you would still be happy because you think you got a good deal. But if I tell you that stock trades for half of its value, you would probably do nothing

[ScizRgaming]

Warren Buffett is just an amazing person. I know NO other people that owe so much of what they have done to luck. Most successful people hate that luck is even a factor, they want it all to be their hard work.

So much respect for Mr. Buffett

[ninarosie]

I love listening to the wisdom of Warren Buffett. He reminds me of my conversations with my own father. I have a question to anyone out there. I am trying to help my Elementary Catholic school raise funds in order to update the school. I can afford to give a few thousand dollars, but I would like my donation to be used as 'seed money'. . . .and would like to see it grow, Can anyone give any advice and/or suggestions. Thank you in advance

[Ch33seMan]

His hypothetical 'genie' situation is called Rawls' Veil of Ignorance. Powerful thought tool. Look it up. This guy is amazing.

[begood20000]

For one of the richest men in the world he is so modest, down earth, funny imaginative and liberal. A truely amazing man

[stefen604]

Makes you think how lucky some of us really are! Definitely some inspiring words

[longhuynh1do]

This portion has a portion of the "Ovarian Lottery" - wonderful way to imagine the design of your life and its place in context of 5.8 billion other people. LPH

[JackBassbusinessteam]

The average citizen reads one non-fiction book a year.Yet thousands would be happy to spend hundreds to be millionaires. The same millions don't have a library card . They want to hear a ten minute video to create a better life. Our workshops start with the message - you can learn most anything if you will apply time and effort.

[wannaknowbad]

I'm part of that 23% that watched all 10. I'm so happy there are 77% that didn't! This will be good for my children and their future. Warren is a great man!

[sabdow]

Warren Buffet's advice is all about What to do. What he doesn't tell you, is How he does it. That's the billion dollar question, and he won't tell anybody.

[jtoler39]

@sabdow He is giving you a framework in which to think about how to buy businesses. When Benjamin Graham taught him , he didn't give him the gold, he gave him the wheel barrel and pick axe and said this is where the vein of gold is .... Get to work. He is giving you a mental latticework in which to work with. I must confess that a young Buffett would not invest how the older Buffett allocates capital because he is washed with cash. His world is only open to very few investments.

[landwarrior82]

humble and down to earth

[chaosworshipper]

He holds up his coke can but never drinks it.

[SonicYouthXXX]

@chaosworshipper It's called marketing.

[RichBrIs]

Fantastic. A genuine inspiration.

[grantmcwilliam]

Pleased I'm one of the 23% who made it all the way to Part 10, and got to hear the best bit! I wouldn't be swapping my ball given the chance!

[kalzx]

i am very lucky to own 158 class a shares and i am only 30 can't wait to see what they will be worth in 30 more

[wyz0010]

@kalzx who did you inheir those from?

[kalzx]

@wyz0010 75% from my grandpa and i bought the other 25%

[Sentinel3007]

An amazing and highly inspirational man. I'd definitely recommend 'The Snowball' for a greater insite into this unique individual.

[ZidaneTribal93]

I get 5 dollars for saying he's awsome.

You're awsome Buffet.

[lanaibliss]

People like to say this and that about Warren but only a wise listener will benefit from teachers of his magnitude

[johnnybermo]

Luckiest one percent???

8 of the balls will be European Union

[ksl007]

i feel smarter after listen to this guy

[Anavengertg]

@ksl007 The trouble is feeling smarter yet still acting stupid.

[Acanonizado]

One of the greatest most influential and down to earth person the world has ever known !

[emailbryan]

The guy is a genuis. He puts complicated and origional investing strategies in plain english and is a likeable guy. Awsome video !

[cheatdath]

i love him

[Remindor]

He is simply awesome.

[prospectnyc]

i wanna drink a beer with him.

he's funny and jolly

[psyensou]

he's a great guy! i love him lol :)

dude's wise.

[ney123456789]

great questions!

[andrewbnkjv]

China grew dramatically in the past 10 years and is A Monster. America is dieing.

Because of Government Manipulated Foreign Policy- and Investors and Business men ready to say "Fuck Americans", let them starve.

Mean while The Cheating rich men love to live in AMERICA.

NO HIRING OF ILLEGAL ALIENS is law for a Reason, AND PEOPLE WONDER WHY America is in the shape its in??? You think Hiring China is better for the American Economy???

Yeah-Their fucking geniuses alright- Evil Geniuses.

[NewBaldwin]

The man put it best, design a system where NO ONE is left out/behind. If you spent more time learning, understanding and thinking than you do protesting and ranting, you too would be GENIUS, it all in the Imagination.

[yao1994]

"you can only live forward"

thanks ill remember that

[redrebel69]

Not unless you find a way to travel faster than life.

[tannerutah]

I Think you have to take what he is saying in a general sence he knows most people are not billionaires and he knows most people are not going to be he is offering his own insight and lessons learned you can take from this what you will its not just about investing he is talkin about life in general really

[nsakic]

Amazing how he mentions and quotes Ben Graham even now. Graham has been dead for 32 years. Not only a great investor but also possess humor and candor. He understood Graham's philosophy of 'value investing' better than anyone else.

[leejrt2k5]

Warren Buffet is rich because many years ago he spent 14 hours a day learning how to invest and thoroughly analysing companies. Dedication and desire the majority (like 95) percent of the population does not have, they would rather allocate there time in ways of entertainment rather than in more usefull activites.

[CleverDjembe]

@leejrt2k5

Exactly - that's why Youtube exists =)

[jtoler39]

@leejrt2k5 I said this 2 years ago and the truth is that Warren Buffett is just a learning machine. He believes in the acquisition of wisdom as a moral duty , not a fixed state in which our cognitive abilities are to remain hindered from lack of progression. Lincoln said I don't think much of a man who is not wiser today than he was yesterday. Mr. Buffett must look highly upon Lincoln in terms of not disappointing. Buffett record would not be possible if he did not continue to evolve.

[steveehardcore]

@leejrt2k5 Its not all about desire and dedication. I would bet my life that if YOU spent 14 hours a day learning basketball, you'd never play point guard for the Lakers. 14 hours playing chess, and you'd never beat Kasparov. 14 hours learning human biology and you'd never be a brain surgeon. 14 hours learning about space and you'd never be an Astronaut. You'd stand a better chance, but it's not a guarantee.

[jtoler39]

@steveehardcore Well have a major definite purpose from a very early age , concentrating all your efforts on this purpose and practicing self discipline in terms of persistence is a common trait among all of those individuals. Now talent certainly helps in the development of skill in terms of setting you apart , but everyone has some form of talent. The difference is in my opinion the perpetuating love for that in which you are doing. Emerson said "A man is what he thinks about all day".

[singworshiplove]

@leejrt2k5 Thks for the post, it motivates. :D

[leejrt2k5]

Remember something about Buffet, he has a fat wallet. He has to invest in large companies, now the buffet of the 60's was alittle different. He didnt have the capital he does now and im sure most people reading this is a buffet in the 60's. It would seem logical that you would learn not how he invests with billions but how he did with money that is more applicable to your situation. Mohnish Pabrai is a buffet of the 60's the exact same parnership, 6% guaranteed 25% after that goes to him.

[koruvida]

I can't believe how so many people are posting what a genius and how humble Warren Buffet is to talk to the "common folk". It just shows why he is so rich and you are not. He did this because he knew it was free advertising for his products. Do you know how many views these videos will get? He gets over an hour of free plugs for Coke and not paying one dime. The way to make money is to work hard, save and not let others take advantage of you. I for one will not drink a Coke today.

[djundizputed]

you're an idiot. I'm sure he didn't know this was going to be taped, and youtube wasn't even created when this was captured, genius.

[trinisexgod]

IMPRESSIVE!

A grreat inspiration to us all.

[everst]

a true anomaly indeed

[WorkingTheTop]

Those who enjoyed this, Don't try and be like Warren Buffet, it wont work. You have to build your own path. (If you had invested in us:GS-N when buffet did you would have lost about 5%. If you had invested in their pref shares, you would be up only 0.17%. And Read everything. Read Read Read. I quit playing halo2. Quit drinking, quit pot and quit going out. I am now a loser who reads. During these videos I wasn't watching him wave his arms around. I was doing research. (us:ANAT)

[jhalas20]

WorkingTop, are you refering to Goldman Sachs? He did buy preferred shares with a floor guarantee of 10% annual return. We cannot get that. We can buy common stock. So what if it goes down -- buy more if you can. You'll dollar cost to a better position, well, you know. If you work hard, you can acheive enough. You may not be the richest man in the world, but you'll have enough.  Remember, he formed partnerships w/ 105K to start $100 was his, took 25% profit over 4%, and reinvested it.

[WorkingTheTop]

The problem is (gs-n) IS not as solid bet as u think right now. They will emerge a smaller company, and at this point thats not a gamble I will take. They crashed, their idiots. My opinion. Buffet just got a sweet deal we cant get at this point. He's paid to wait. Check out some others such as (ANAT) or (Harry winston) and **(Arr crop)-STOCK TICKER IS =(AIR)** dont get confused there. So I know hes a genius, but you cant always just trace his steps. Peace !

[artemizzy]

thanks leizhg for posting these videos!! warren buffett is my idol!! :)

[redmattuk]

Exodus 20:4-6

[artemizzy]

i dont believe in pushing one's religious belief onto another so this'll be my last post on this

[redmattuk]

Neither do I. But open rebuke is better than love carefully concealed! And the law of the LORD is perfect, converting the soul. And how can people believe if they haven't heard?

[AmineTommylee]

yeah i agree we are lucky to get these videos on you tube, imagine how tough of a game it must have been to be in the audience, MBA's and ....

[Sectorsophia]

Damn it's over?! I'll have to watch it again!

[ShawnTMills]

God he is such a genius...

[firestartertwistedfi]

interesting to see him touch on social questions at the end. i wasn't sure of the point of the genie story - i thought it was leading to some idea of designing a much fairer system where being born in america or the west more generally didn't represent such a massive advantage. but he didn't seem to follow that up.

[aona1989]

wxyrty is pretty harsh but he does have merit.. more risk is involved with investors that don't have access to the same capital as buffett does. However, I don't think the man's a fool- he's doing exactly what any intelligent investor would do in his position.

[ShawnTMills]

That is incorrect. The more capital you invest the more you are risking. If you buy stock in a good small company, for maybe $1000, and it grows like Wal-Mart or Coca-Cola, you will have made an investment like Warren Buffet is talking about. What he is saying is put your money into something you believe in and truly UNDERSTAND, at that point success is imminent.

[simoninsingapore]

so god damn inspiring!

[phantom2281]

what a great man

[CallMeStig]

wow, I think this is my favorite part out of the 10. He really tought you something about life!

[leeangelo]

thanks for posting the entire lecture/talk leizhg! I love the videos so much! Gonna watch it again and learn from Warren Buffet's principles in investing. I really admire him!

[wwwMBAThesisNet]

What a great speech. U of F (Florida) is very luck to have had him speak there.

[javachipz]

And we are very lucky to have the videos posted here on YouTube.

[King00307]

Warren Buffet is just an awesome person..He is currently the richest man in the world and he doesnt act arrogant about it at all..He has a great sense of humor and he is all about doing something that you love..Very inspirational

[J34J33J32]

Great video, best investor ever. Basically buy what you know and that consistently make money over the long term.

[wxyrty]

We are all different. None of us could afford to NOT invest in the short term or not look at the marco enviroment because we don't have that much money to influnce the market like he could. In order to be rich like him we HAVE to take risk. He is getting old and couldn't handle risk anymore. If you listen to him, the most you could do is make small gains but you couldn't ever be rich like him. How is this good advice? Just settle with what you've got? Those are pathetic words from an old man.

[kentharlarrisis]

Pathetic words from an old man? He's also the richest man in the world. I think his words should mean something.

[yesthisismyday]

look, he just holding the coke and never drink it.

[41canuck]

Wow! except for part 9 being missing, what a great talk! Incredible guy, wise and easy with his access....everything except him saying "hope your grandchildren live better than your children and so on". He just dis-owned his grand daughter. WOW!

[gulucka]

Because she was adopted and talks publicly (bragging) about him. Big difference

[41canuck]

nope, not buying it! Family first!

[vampireangel1984]

he is really good..and to think of a guy that is so rich and successful is so dam funny too..stranded in a dessert and the only valueble person is the 1 who can grow food while he can allocate capital.lol

[shezzelw]

I'm in love.

Does anybody know when and where this is from? I'm thinking late ninties with all the talk about LCTM and the Asian financial crisis.

[shezzelw]

LTCM*

[vac1985]

it's from 1998, i think at univ of washington

[etraise]

Wrong. It's at University of Florida, and from May 2007. I go there.

[saelaenc]

i think buffett has read some rawls.

also, he says that "as net buyers of stocks, you want share prices to be down not up." but that ignores the fact that MBAs often go to work for companies who rely on equity offerings for capital (not to mention share options often used as compensation). it is probably in their short-term interest - since they are currently job-market candidates and not "investors" per se - for share prices to be relatively high, and rising.

[ip916a4bb]

Wow the last part couldn't have been said better.

[jb2134]

If you liked this speech, I would read..

-The Making of An American Capitalist by Lowenstein. Its the best biography of Buffett's life. He made money as a teenager, and was a millionaire by the '50's. Very inspiring book. It goes up to Buffett's career, to about the mid 90's.

-Ben Graham's Intelligent Investor. Especially his description of price fluctuations...Mr Market. Buffett mentioned that chapter in this speech.

[jpatau]

If you love Mr. Buffet read this:

The Essays of Warren Buffett : Lessons for Corporate America

That's the book he himself has said to be the best.

The book is basically an ordered recopilation of BH Annuals.

You can't miss it.

[benObenO12]

I must have watched this last part maybe 50 times by now. Buffet's the man

[benObenO12]

I love Buffet

[knots1975]

Brilliant! thanks for posting

[Thorml]

I first heard of Warren Buffett a few years ago on the Forbes rich list, but didn't know who he was (he doesn't get much attention in the UK), so i looked him up. Sice then i've read the books, the articles and watched the videos, and the more i read and watch the more respect i have for his character rather than his investment abilities (which are obviously outstanding).

[Yalemanp]

Thanks so much for sharing this.

WEB is truly a great man and a brilliant, balanced avatar.

[ohhhvictor]

I am dominican living in US, and a small investor..But what he said make a lot of sense..He is a genius..A lot of experience..Buf!.Wonderful!..T­hanks for sharing!

[wdeboer0]

The first two-and-a-half minutes of this video are worth their length in gold. It makes so much sense, yet 99% of investors have the exact opposite frame-of-mind approach to investing.

[sterls0321]

Thanks for uploading this series and sharing it with us - great quality and value!

[jku008]

Great video, Thanks. Good lesson.

[jmartinez562]

Thanks for that post. Buffet's level of wisdom cannot be thought through a University Professor with his kind of impact.

[SWISSCHARDED]

omg, I think people like him because he seems like the grandpa we all want but Coca Cola is an immoral company. WTH is wrong with him? Coke is a toxic drink and shouldn't be offered to developing countries where nutrition is an issue and Coke refused to divest from South Africa during Apartheid. For all his talk about moral investing and believing in the company as you would good person, he contradicts himself. "There's a disconnect there."

[jaeleekilmet]

Are you seriously retarded, swiss? What a loser.

[BKMBond007]

Nazi and socialist don't go together.

[oraenor]

you idiot, look at the definition of NAZI

[rayqb]

Thanks for the link... it works

[hmmm019]

only thing new i havent heard was his comments on equity. rest are in books. where was this taken? but always good to hear his humors.

[sambobackus]

thank you!

[bogardan666]

excellent, thanks for posting.

[paddymac18]

Absolutely brilliant!

[brilliantmichael]

This was the best out of the ten. Thanks for putting this up!

[aznflamz17]

pretty nice how a man that rich can stay so down to earth

[mcrollz]

Does anyone know how to download the full version in .wmv format into iTunes? I want to transfer it onto my iPod but can't get iTunes to accept it...

[spinvalve]

Absolutely profound!! What a marvelous conclusion!

[moviestar22]

Some simple ideas we all need to apply to be more appreciate and grateful with the lives we lead. Life isn't a destination, it's a journey. Our goals aren't there to be achieved, but to serve us because life isn't about what you have, it's what you become.

-Ryan Thomas

rutterback at nwmtgcorp dot com

[divinerain110793]

john rawls: the original position

[divinerain110793]

john rawls: he original position

[juseroe]

Thank you very much for sharing, that was amazing!!!

[dokumentWro]

By the way, there is a magic spell which allows to download the original video:

bear dot cba dot ufl dot edu slash karceski slash fin4504k slash Warren%20Buffett%20MBA%20talk%­20at%20UF.wmv

Cheers to all Buffies!

[juseroe]

Whoa!!! thats even better, Thanx!!!

[missmuster1]

thanks a lot!!

cheers

[adm23senna]

Thanks for putting up this video, Warren Buffett is a Genius.

[masterxyzxyz]

cool, enjoyed it a lot, thx!!!

[melnick1985]

amazing