Warren Buffett MBA Talk - Part 2

@cooolway the 16 people together have about 400 years of experience.

So say on average they have 25 years each, thats 16 x 25 = 400. As each person will have had complete different experiences during their working lives, he adds it all together.

sysopkc is an absolute idiot. he didn't even know the Fed is not part of the government. the Fed is an independent (financially) quasi-government agency who's funding is strictly coming from banks that own them. stupid people never know how stupid they are and feel compelled to make a fool of themselves in public. pathetic.

its bullshit talk, absolute bullshit. Just like the quip that the fed stepped in but without public money, thats an outright lie or statement of utter ignorance. I know for an absolute FACT that taxpayer money was injected into LTCM because my father was working in govt. at the time and remembers the incident.

What Mr. Buffet meant by 400 years experience is that if 16 guys have 25 years of experience on average it would amount to 400 years.  16 times 25 equals 400.

16 people have aggregate of about 400 years experience, i.e. on average 25 years each, hope dat helps.

lol i wish I can become the next Warren buffett....the great thing about America is....we dont have losers like u.....go back to non-america

....obviously....he's the only person in like top 20 richest men in the world who succeeded mostly by investing.....

if im wrong dont flame me cuz it is only from my futile research 0_o

it support his example of saying the people at LTCM had extensive experience in the securities business ....it's just an exaggerated example to say those people made big mistakes when they had experience and knowledge of derivatives, equities and debt securities

cooolway

he is referring to the combined experience between all 16 individuals. so say one person has been in the business for 30 years, another person for 26 years, another person for 15 years, and so on...so that the combined total of experience is 350-400 years of experience

Thank you for explaining, msiligup.